Simplify Settlement With Revenue Allocation And Payments

Revenue Allocation accumulates monthly production (i.e. run tickets) by lease, commodity and production period, then allocates the accumulated totals to investors. The allocations are performed using the investor ownership percentages stored in the lease division order.  

Users can also add special revenue and deductions to an investor’s suspense account for payment by the system.

Users can reverse and rebook allocated transactions for an entire lease using one simple process. This ability is ideal for correcting allocations produced under an incorrect division order.

Payment Processing reviews the investors’ suspense accounts and compiles a list of all transactions eligible for payment. If the total of the eligible list of payments is greater than the investor’s minimum payment requirement, the system issues a payment to the investor. All transactions that do not exceed the investor minimum plus all transactions labeled with a legal suspense code remain in the investor’s suspense account to be paid at a later date.

Payment Processing prints checks on either pre-printed checks or blank check stock.  As a security precaution, the actual check printing task can be separated from the process of payment creation and password protected.

The system also:

• Produces wire and ACH reports for disbursement using a secondary system such as the general ledger.
• Pays and tracks operator advances, then calculates the net due to the operator at month end.
• Uses a credit memo process to write off suspense amounts that will not be paid out.
• Allows the user to recover a group of checks before payments leave the office. Payments sent in error or returned can be voided. In both cases the funds are returned to the appropriate investor suspense account.
• Produces a detailed pay statement for each investor.
• Allows review of allocations and payments for any time period since system inception.
• Produces a wealth of allocation and payment reports that can be printed or saved to Excel spreadsheets.