When running your General Ledger, OGwin gives you the option to have the accounts provide subtotals by “well” or by “entity.” To accomplish this, set the account location in Chart of Account Maintenance. For the location field, the program will indicate choices of “None,” “Entity,” or “Well.”

If you prefer no subtotals within an account on the General Ledger report, select “None”
To subtotal activity within an account by an entity code such as vendor or owner, select “Entity.” Select “Entity” for the accounts that coordinate with the subledgers, such as Trade Accounts Payable and Accounts Receivable. This will make easy reconciliation of the subledger to the General Ledger.
To subtotal activity within an account by well code, select “Well.” Select “Well” for any account for which well level reporting is appropriate. These accounts will appear on the Property Subledger report, which is a General Ledger report that you may select by well. Generally, select “Well” for oil and gas income accounts, IDC accounts, LOE accounts, and tax accounts.

Selecting vs. Sorting. What’s what?

The road to success in producing well and/or lease reports demands that you know the difference between selecting and sorting.

Selecting involves choosing certain properties (wells or leases) to appear on a report. Meanwhile, sorting involves determining the order in which the properties should be listed and subtotaled.

In OGwin, the screens for selecting and sorting look similar because property fields are used for both functions. But the headings are different. The heading for the selection screen is “Property Filter Selection,” while the heading for the sorting screen is “Property Sorting Sequence.”

Selection screen:

Sorting screen:

Depending on the type of report, the fields that appear on the selecting and sorting screens are pulled from well or lease maintenance. Both system fields and user-defined fields appear.

When selecting, choose a field, such as “County.” Enter a single county, range of counties, or group of counties. The report will list only properties in the counties selected. You may select up to nine property fields on a single report.

Determine sorting after you make property selections. Choose a field, such as “Operating Group.” OGwin will list all properties in the same operating group together and give a subtotal for the operating group. A well report allows up to five levels of sorting, with the last level always the well code. A lease report allows up to eight levels of sorting, with the last level always the lease code. Subtotaling will appear on a lease report only if it is included in the report template.

Get More out of Property Reports with Extra Information Feature

Do your property reports provide all the information you would like? A special OGwin option will enable you to bring in extra information. The extra data comes from the system-designed fields and the user-defined fields in well maintenance.

For example, when you are reviewing by well financials, you may easily recap the following for each well: revenue interest, operator, oil purchaser, gas purchaser, and perhaps even the field from which the product is produced.

The Extra Information option may be available on your system already. To determine this availability, search the Property Maintenance section for a selection called “Extra Information.”

Once you have this option, you may set up the extra information maintenance. Begin by creating an Extra Info name and specifying all the well fields you would like to see on a property report.

Then, when you run a property report, indicate the appropriate extra information name. The report will print as always—except the extra field line below each property will appear. You also have the ability to sort the report, based on the extra fields.

The reports with this special option include: Report 230 (Financial Report) if the report is limited to certain properties, Report 240 (Property Subledger), Report 250 (Property Reporting), and Report 520 (Production Reporting) if you have the Production module. For a report enhancement, contact OGSYS support, .

Answers to Key Questions

Q: What month should I use for closing Revenue . . . the current month, or the month of production?

A: The revenue month should match the general ledger month. When closing the accounting period for the GL, that same period would be closed for the Revenue. An important consideration is the 1099 process at the end of the year. Since December must be closed before the 1099s are generated, it is better to close December than to wait for December production before closing.

Q: What happens if I redistribute revenue through the Revenue Redistribution program to an owner or company that already has an interest in the property?

A: OGwin doesn’t determine whether a prior interest exists before performing the redistribution; therefore, the gross (8/8) amount will be overstated for an owner or company that already has an interest in the property. You may reverse out the gross amount through a manual JE. The manual JE will reference the income accounts only because you are adjusting just gross amounts—not net value.

Q: Is there any way to be alerted when an incorrect date is entered?

A: Set a reasonable date range in System Parameter Maintenance. Find this setting on the second screen of the maintenance and identify how many months are reasonable for previous and future dates. OGwin looks at the last month closed in the module you are working. The system will display a warning message if the date you entered is outside the month range you specified. The warning appears on the entry screen and posting report. It will not prevent you from final posting.