Closes out the monthly reporting cycle. This should be done after all daily and monthly numbers have been entered and after all State Production Reports have been reviewed.
The update performs different tasks:
•A backup of the data files.
•Recalculation of the price and volume for run tickets in the current cycle.
•JIB comment update for leases.
•Temporary commingling permit numbers are cleared.
•Update of the cycle status and date on the Company Master.
Auto Post G/L Entries – Check this option to automatically post General Ledger entries.
NOTE: Do not close out the month until all current corrections have been processed.
Reconciliation is used in First Purchaser Only