Fields REV148

Check Stub

Enter a check stub ID or press enter to accept the default.

Description

Enter a meaningful description for cross-referencing.

Check Component

Enter the components in the order that they display on the purchaser check. This order controls the prompting sequence for sales information in the Gross Sales Check Stub Formatted Entry - REV170C program.

Each Check Stub Master must contain either a net component (6) or one (and only one) gross component (1, 1A, or 1B). An item can have both a gross and a net component. Each item must contain at least one quantity component (2, 3, 4, or 5), but cannot combine a gas-type component (3 and 4) with other quantity components (2 and 5).

If you enter component `2A', the Gross/RI and Adjust Net fields are not valid. If this component is present on the check stub when entering a new GSL, the Check Stub Formatted Entry program automatically prompts for either the oil gravity or the gas BTU factor.

The component that you enter must exist in the COMPONENT_MASTER file.

Gross/RI

Enter either `G' or `R' to indicate whether you want 8/8ths or your receiving interest to display on the purchaser check.

This information determines whether you are prompted for 8/8ths or your receiving interest in the Check Stub Formatted Entry of the Gross Sales Batch - REV170A program and, therefore, whether or not the value you enter is grossed up or netted down. Both gross (8/8ths) and net (your receiving interest) display in the Gross Sales Formatted program.

Adj Net

Select this check box if you want to use this component in calculating gross value from net value. For example, LOE adjusts net and is not added to net value when calculating gross value.

This feature will not work if the check stub is set up with a component of "1" for gross sales. It is designed for use with entry of component "6", net value.

This field is only accessed on Tax or Expense type components. Once a Check Stub Master has been referenced in the Purchaser Property - REV100A program, you cannot delete it.

A very simplified example of using the adjust Net flag: A check is received for $300, and the stub has a tax deduction of $100, a sale net amount of $500, and then an additional deduction of $200 of LOE (the purchaser is netting JIB charges against revenue). When entering the gross sale, the user would enter the tax amount of $100, the net value of $500, and the LOE of $200, which would agree to the amount of the check. If the Adjust Net box was NOT flagged, the system would calculate a gross sale of $800, which is not correct. With the box flagged, the system properly calculates the gross sale of $600.

If a purchaser deducts an amount as one figure, which represents the aggregate of multiple taxes, you can enter `%T' here. During the Revenue Gross Sales Calculation - REV178 program, the specific individual tax components relevant are calculated as defined in the Production Taxes - REV128A program. The `%T' aggregate figure is then allocated to the individual tax components for distribution purposes, based on the ratio of their calculated amounts.