REVENUE ACCOUNTING

Revenue Accounting

• Performing Manual Entry & Electronic Processing
• Verifying Pricing on Oil & Gas Contracts
• Preparing & Monitoring Gas Balancing Statements
• Reconciling & Monitoring Monthly Revenue & Suspense Accounts
• Processing Revenue Payments to Other Working Interest & Royalty Owners
• Preparing Monthly Revenue Accruals
• Performing Account Reconciliations
• Working with the Regulatory Department the Reconcile Severance Tax Payable Accounts with Filed Reports
• Confirming That Ownership Interests Match Revenue Statements, Including Non-Operated Properties
• Maintaining Interest Paid, Well Detail, Purchaser Well Numbers & Owners Numbers
• Revenue Distribution & Reporting
• Supporting Volume Printing, Stuffing & Mailing with Automated Clearing House (ACH)& Positive Pay Capabilities
• Performing Purchase Price Allocations & Corrections
• Offering A Variety of Owner/Partner Relations Policy & Process Options
• Using Lock Box & Deposit Support with All Distributions Balanced to Deposits
• Reporting by Well & Owner by Product & Interest Type: Gross, Volumes, Net, Tax, Deductions
• Generating & Distributing Annual 1099s for Tax Reporting
• Creating & Tracking Payout Statements