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Calculate Pricing and Other Revenue Components
- Gross value, taxes, deductions, additions/allowances, net
- Extensive pricing capabilities
- Flexible, user-defined equations
- Direct transfer of data from internal and external systems
- Translation of payor product and property
- Identification of receipt and delivery points
- Allowance for unit to tract allocations
- Allowance for sliding scale processing
Process Distributions
- Automated approval of distribution transactions
- Automated prior period adjustments-price, tax and deduction rates, and product volumes
- Audit reporting to verify and document changes
- Selection by effective dates
- Recording of sales data by joint venture partner and creation of general ledger transactions
- Provisions for financial accruals and automated accrual reversals
- User-definable journaling by account for all revenue processes-distribution, accruals, transfer, etc.
- Ability to book either gross revenues and royalty expense or net revenues
- Creation of party level transactions
- User-controlled accounting periods
- Ability to post transactions to a future accounting period
- Cash matching and reconciliation
- Cash matching write-offs
- Cash matching end-to-end processing (receipts through distribution)
- CDEX send and receive
- CODE receipts
- Royalty Reimbursement
Manage Interests/Suspense
- Fully integrated assignment and ownership processing
- Automated prior period adjustments - ownership
- Multiple report centers for a single division of interest (DOI)
- Ability to designate DOI exemptions by party
- Enhanced security for party (Business Associate), DOI and agreement maintenance
- Complete audit reporting of all maintenance tables
- Division and Transfer Order printing with user-controlled document language
- On-line release of suspended funds
- Identification of effective and expiration dates, by party, preventing duplicate DOIs during maintenance
- Identification of record title, marketing arrangements and distribution DOIs
Payment Processing and Escheat
- Calculate minimum royalty
- Calculate minimum payments for individual parties
- Release of funds to owners as check, wire transfer and EFTs
- Support for user-definable special handling criteria for special signatures and additional check documentation
- Calculate and report state and federal backup withholding
- Generate remittance detail file in compliance with current state disclosure requirements
- Support for "manual" check creation
- Automated bank reconciliation input file and reconciliation reporting
- Automated void check processing
- Archive and purge processing
Revenue Netting
- Automated calculations to reflect joint interest billing - revenue netting
- Identify receivables at the party level or the party and report (cost) center level
- Generate audit and analysis reports to facility research and verify accuracy of transactions selected for netting
- Generate all accounting journal entries within Energy Receivables and P2ES Settlement to account for netted transactions
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