Division of interest and the “==” feature
| Objective: |
The objective of this feature is to provide for a distribution of revenue to another Division of Interest within the same distribution cycle. This feature is typically used for distributions to the partnership members.
Setup:
Note: There are no special requirements for the setup of the Check Stub Division Orders, Accounts Payable invoices, or General Ledger Manual and Standard Entries.
1.Property Master: adding a new property: the Property code should begin with “==” (two equal signs) and the property code.
2. Owner Master: Adding an owner: the Sub-Account code should match the “==” property that was just created in the property master; “==” & property code.
3. Division of Interest Maintenance: Set up the distribution Division of Interest (DOI) just like a normal DOI would be set up. Include the “==” owner in the DOI.
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Important: There must be a Working interest owner (W) on the “==” DOI if the “==” owner on the "from" DOI is a Working interest owner.
a.Setting up “==” DOI: The DOI property name should be the “==” property. The Deck field must be left blank. The owners are added and setup as normal DOI setup requires.
