Price Verification, Recording/Calculations/Reconciliation of deposits, Suspense set-up & Maintenance, etc.
Revenue Accounting has changed in recent years; however, the basis remains the same. Oil and Gas Revenue Accounting is receiving and recording revenue received from purchasers and operators. The basics include recording check detail, applying revenue to appropriate wells, and paying revenue to interest owners. Proper maintenance of Revenue 'decks', verifying the amount received to the purchaser agreement and amounts received from operators helps uncover issues early in the revenue process. Gas Balancing also relates to Revenue Accounting.
- Deposit revenue checks from purchasers and operators
- Imaging checks and remittance statements
- Record revenue check detail; calculating company share and distribution to third parties
- Ensure escheat amounts and/or research escheat
- Reconciling of amounts entered in revenue to revenue deposits
- Verify volumes and prices per contracts and agreements
- Maintain Revenue Held in Suspense details
- Maintenance of divisions of interest