Revenue Accounting: General Requirements Features and Functions

• Creates a single business associate record for a partner that is valid for multiple applications (AP, JIB, revenue, marketing, purchaser, etc.) using multiple addresses, if necessary


• Maintains 6 lines of address information


• Uses an address for multiple applications


• Uses multiple methods to look up a business associate record (name, tax id, address, etc.)


• Provides a comments field in the business associate record


• Interfaces business associate data to systems outside of the ERP, if necessary


• Allows the minimum suspense threshold to be set at the business associate level


• Allows a business associate to be marked as tax exempt


• Records accrual- and cash-based revenue settlements


• Places a settlement on hold for processing during a subsequent period


• Processes multi-entity transactions


• Supports robust reporting tool to query and report on historical data


• Allows queries to be saved in a manner which allows them to be rerun against the latest data at the user's convenience


• Captures rebook reason codes/descriptions. Requires this information to be entered at the time the revenue batch is created.


• Attaches the reason code/description to the batch level/well level/owner level transactions


• Reverses/rebooks selected data by batch, division order, owner, or specific list of transactions


• Reverses/rebooks using original payees or current ownership


• Summarizes well level input to a higher level (unit) for payment purposes


• Handles manual checks payments


• Handles suspense releases payments


• Handles override settlement data payments


• Handles owner level adjustments on manually nput payments


• Handles owner level adjustments on uploaded payments


• Sets system defaults for minimum check, automatic write-offs, and default accounts


• Allows direct deposit via EFT, as well as an option to send, or not send, a paper statement


• Offers a flag at the owner level for check inserts


• Tracks transferred/escheated owner records


• Handles tax levies


• Handles back-up withholding


• Performs multi-level, complex gas plant allocations and settlements


• Captures and accounts for third party marketing arrangements, downstream sales to third parties


• Sends and receives electronic data


• Calculates alternate royalty payment provisions


• Offers integration of pricing schedules between modules