EDI Viewer - Oil WI (Working Interest) Owners Maintenance

The Oil WI Owners Maintainance window is used to enter and edit lessees who have in interest in this entity and who may be invoiced for their share of the tax.


 
   
To add a lessee, you can do any one of the following:
  • Right-click your mouse to get a popup menu and choose add or insert.
  • Press the shortcut keys, CRTL and A (add).
  • Click the edit menu at the top of the screen and then choose add or insert.
To delete a lessee, click on the row and do any one of the following:
  • Right-click your mouse to get a popup menu and choose delete.
  • Press the shortcut keys, CRTL and D.
  • Click the edit menu at the top of the screen and then choose delete.
To create a new effective date, click on the row and do the following:
  • Right-click your mouse to get a popup menu and choose New Effective Date.
  • Key in the new effective date. All dates must be in the current tax year.
  • To see the lessees for all dates, right-click the mouse and choose Show All Dates.
  • To see only the most current lessees, right-click the mouse and choose Show only Current Effective Date
Net Tax Calculation:
  • The net tax will be calculated when you click the Save toolbar button or choose Save under the File menu.
  • The net tax calculation is calculated as follows:
    • The Oil Tax dollars * the Oil Min Tax %, so $145.09 * 50% = $72.55
    • The $72.55 is then multiplied by the percent to pay, $72.55 * 100% = $72.55
    • The $72.55 is then multiplied by the lessee working interest and the number of months divided by 12
      $72.55 * 75% * 12/12 = $54.41

      In this case we have 12 months but if we had 6 months the net would be $27.20

  • The Rebill check box is should be checked if you want to produce a Rebill Invoice for this lessee. A Rebill Invoice is usually a second invoice to a lessee where there have been changes from the first invoice. The Rebill Invoice will show the entities that have been changed with 3 lines on the invoice, the original from the previous invoice, a reversal, and the new charge.
  • The Billable check box should be checked if you want this detail printed on the lessees invoice and unchecked if you do not.