EDI Viewer - Freehold Mineral Tax Set Up

Setting up the Freehold Mineral Tax module for the first time requires the following:

1. Import files - Load your .xml Tax Statement files in the Import Freehold Mineral Tax Invoice window.
2. Create Your GL Company - Define your GL Company in the GL Company Maintenance window. This is used for invoicing and the GL Upload.
3. Update Imported Owners - Every owner needs a unique lessee code or it won't be used in the system. Other information like Owner Type, Reconciliation type and Address Information can also be filled in. Owners imported via the .xml files will have "NEW - [[Owner Code]]" as the default lessee code.
4. Add New Owners - Some owners/lessees/lessors may not have been included in the imported data. Right-click and select Add to manually include these owners while in the Owner / Lessee Maintenance window.
5. Link your Titles to your Company/Companies - This is done in the Title Maintenance window. Titles not linked to Companies will be ommitted from Invoices and the GL Upload.
6. Set up Entities - Mineral Tax %'s, Lessees, Lessors and Working Interest Ownership, along with other information is entered here.
7. Set up your Annual Invoice Number - This can be done in the Invoice Number Mainenance window. The Invoice Numbers are created sequentially, so start your Invoice number at 0 (ie. FMT2022INV-000). This way, the first invoice created will be number 001.
8. Set up GL Accounts - This is done in the GL Account Maintenance window. In the FMT Module, you will typically only have 3-4 Accounts: Gas Expense, Oil Expense, Accounts Payable and Accounts Receivable.
9. Set up Cost Centers - This is done in the Cost Center Maintenance window.