Disburses funds to owners

Generates accounting distributions

Allocates bearer expenses to working owners

Determines net payables for owners and records payable or income and expenses

Processes prior period adjustments

Maintains payment history

Maintains 1099 (U.S. tax) information

Allocates tax disbursements and marketing reimbursements to owners

Allocation Error Report (see: Using the Allocation Error Report in RD )

Combined Run Report (see: Combined Run Report )

Out-of-Balance Report (see: Out-Of-Balance Report )

Allocation of bearer expenses to working owners

Determination of net payables for owners (gross revenue, minus deducts)

Recording of payables, income, expenses, marketing payables and facility income

Recording of accounts receivable (A/R) amounts

Recording of payable taxes

Distribution of operator payments

Handling owner-level transactions and other situations that require special accounting actions. Examples of those transactions are: settlement diversity of owner transactions (transactions in which a non-working interest owner is paid on a different basis than that upon which volumes were sold), sliding scale owners (a form of settlement diversity transaction in which the decimal - net revenue interest of the owner can vary based on volume and/or values), tax-free owners (owners who, by agreement, are not required to pay state production and severance taxes), and marketing-free owners (owners who are not required to pay any marketing deductions, or certain types of marketing deductions)).

Functionality for inputting and allocating state ad valorem taxes to owners in a DOI (see: Creating Ad Valorem Tax Recovery Records )

Generation of accounting entries as a result of the allocations and special accounting processes performed

Calculation of tax withholding amounts for federal, state, and non-resident alien taxes (state backup withholding for Colorado and Utah, etc.) (see: Maintaining Withholding Tax Rate Info )

Calculation of interest on suspended or paid funds

Processing of suspense releases based on owner suspense release data

Processing suspense allocations based on ownership transfer data

Utilization of system-wide minimum payment amounts

Processing override options to system-wide minimum payment amounts maintained by owners in the business associate file

Clearing out minimum suspense data at specified points in time

Processing special payment control data based on information maintained by owner in the Business Associates Table ("print check first", "stop payment", and "payment method")

"Print check first" – used when the check for an owner needs to be printed at the beginning of the check print job, due to special handing or other requirements

"Stop payment" – used when it is desired to stop any payments from being made to an owner. This can be used in lieu of placing the owner in suspense on every DOI he has an interest in

Functionality for entering comments or messages to be printed on owner check statements (comments or messages can be printed for all owners, a specific owner, all owners in a property, all owners in a DOI, or all owners in properties in a specific state)

Generation of checks and statements for those owners being paid by check

Generation of statements only for owners being paid by other means (wire transfer, etc.), or for owners whose revenue is being offset against joint interest expenses

Provision of the ability to reprint owner statements, if necessary

Provision for the input of manual check data and generation of appropriate accounting entries (see: Entering Royalty Check Information Manually )

Provision for the ability to void checks either back into payables or into legal suspense

Provision of the ability to generate replacement checks (whereby the original check is automatically voided)

Maintenance and update of a check register

Maintenance of 1099 (U.S. tax) data, and manual adjustment of the 1099 data (the user can manually adjust the data) (see: Displaying Owner 1099 Information )

Provision for automatic write-off of accounts receivable balances that are within a user-defined amount, by product

Generation of transactional data to be provided to participating owners through CDEX

Provision of the capability to manually select accounts receivable balances to be written off, which are outside the automatic write-off amounts. A separate approval screen for manual write-off is provided for control purposes (see: Approving Accounts Receivable Write-Off )

Provision of the ability to transfer accounts receivable amounts generated by the check input application across remitters, remittance levels, product codes, and sales dates. That is used in cases in which the data has been entered erroneously in the check input application, and has already been processed into the subledgers

Processing of prior period notifications (PPNs) received from the Valuation application component by extracting and reversing original entries processed. The Valuation application component sends the re-entry or corrected transactions back to Revenue Distribution

Provision of an option for processing prior period transactions against either current ownership in the DOI, or against the ownership that exists as of the sales month or the prior period transaction (that is, historical ownership)

Extraction and reporting of owner-payable data that is "escheatable" under state escheat laws (which vary from state to state)

Provision of search functionality for all Journal entries created from a specific valuation transaction. That includes both DOI and owner-level information.

Provision of search functionality for check detail, 1099 tax data, negative payables, and legal suspense data (see: Displaying Owner Check Details , Displaying Owner 1099 Information , Displaying Negative Payable/Suspense Browse Information )

Generation of various types of reports, including: accounts receivable reports, income analysis reports, taxes payable analyses, legal suspense reports, royalty payable reports, owner payment exception reports, and audit and control reports of the allocations and other processes it carried out

Sending of information to the Combined Run Report and the Journal Entry (JE) System