JIB Processing Overview

You can use the JIB system to:

• Prepare JIB invoices for all working interest owners.

• Monitor prepayments and automatically apply prepayments by working interest owners to their respective JIB invoices.

• Automatically access data that you enter in other systems that you want to process through the JIB system.

• Automatically bill contractual amounts, for example, fixed overhead.

• Make cost allocations to properties or cost centers.

• Create and record all related accounting entries for all related entities, for all JIB processes.

• Allow for multiple billing schedules. Sharing among owners can vary by cost type, by effective date for any property, or cost center.

• Facilitate netting of JIB cost against oil and gas revenues.

• Allow suspension of billings by Well by Owner by Cost Type.

The Primary Manual interfaces with the JIB system are:

• User Masterfile Maintenance

• Scheduling and initialization of JIB processing

• GL Voucher Data Entry

• Suspense Maintenance

• Joint Billing Schedule Effective Date Maintenance

• Procedures employed to edit and review computer output