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Prior Period Adjustments |
  
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Prior Period Adjustments |
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The screen below is accessible from the deal meter/well dashboard and shows the prior period adjustments which are associated to the meter/well. A meter/well does not have to have any prior period adjustments. Conversely, a meter/well can be assigned multiple prior period adjustments. These prior period adjustments can only be posted on historical/PPA volume types AND the monthly status for that volume type must be marked 'Available'. Therefore, you will not be able to post PPA's on production months which are still available for nominations and/or actual changes, etc.
Add New PPA Entry (button) - Click this button to add a new PPA entry for the meter/well. When adding a PPA entry, you will post it to the production month where it is applicable. On the PPA detail screen (show below) you will have the option to specify the accounting month information (future month) where this is suppose to show on statements/etc.
Delete Grid Button (single red x) - Click this next to the applicable deal meter/well prior period adjustment entry to remove it. Important note: You will be presented with a confirmation ("Are you sure...?") dialog box prior to deletion. Also, if the PPA has already been posted to your accounting system (marked accordingly behind the scenes) then a deletion will not be available. You can enter a corresponding reversal entry in those situations.
The following screen is presented when you are adding a new prior period adjustment to a meter/well.
PPA Cost/Adjustment Type (drop down list box) - This represents the cost type association for the prior period adjustments. These types can be setup thru the 'Other Cost Components' list of the system. These cost types are product specific. Therefore, gas components are only available on gas PPA's, etc. This is a required field.
Description - This allows you to specify a brief description for the PPA. Important Note: This will show up on some statements & screens. It is good to be descriptive of the PPA entry.
Notes - This provides for any notes which you might want to record about the PPA. This is an optional field.
Statement Label Override - This is optional. If entered, then this label will be used on remittance and invoice reports in the applicable accounting month.
Prod Day - This is a required field and represents the specific day to apply the volume & amount.
Volume - This represents the volume adjustment. This is optional. You do not need to enter anything IF the volumes did not change in any way. For example, enter 100 to add 100 volume units on the specific date. You can enter a minus sign to reduce the current volume (a -50 will reduce the existing volume on that day by 50). Important note: You are entering an incremental transaction to what is already there, on that production day. So the number you specify here will be added to the existing number.
Amount - This represents the dollar amount adjustment. This is optional. You do not need to enter anything IF the amounts require not adjustment. For example, enter 100.21 to add 100.21 dollars on the specific date. You can enter a minus sign to reduce the current amount (a -50.45 will reduce the existing amount on that day by 50.45). Important note: You are entering an incremental transaction to what is already there, on that production day. So the number you specify here will be added to the existing number.
Acctg Month (drop down list) - This is a required field. It indicates the future month which will be used (for accounting purposes) to recognize this PPA.
Stand Alone PPA ? (checkbox) - This is required. A stand alone PPA is a PPA which will not be associated to a future deal and meter. THerefore a 'stand alone' invoice or remittance will need to be printed for this particular adjustment (to the counterparty). This normally only checked in those situations where future deals are no longer taking place yet you still have a PPA for the counterparty. A stand alone statement is the preferred method for communicating and settling the adjustment. Important note: if you check this, then you will not be specifying the future accounting month deal or meter.
Acctg. Deal (drop down list) - If this is not a stand along PPA then this is required. You are presented with a list of deals for the given accounting month. Only those deals for the same product type (oil, gas, etc) AND only those deals of he same contract type (purchase, sale, etc.) will show up in this list.
Acctg. Meter/Well (drop down list) - This is the list of specific meters/wells for the accounting deal specified. This is a required field IF this is not a stand alone PPA.