Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Screens

Associations > Oil & Gas dialog

Use this window in the asset module to enter information for oil and gas assets.
To open this window, in the Associations window, mark the
Oil & Gas
 checkbox in the Association field order list then select Properties.
To enter oil and gas setup information for a client, you must have either the Business or Rental folder selected.
Information for oil and gas assets is maintained at two levels: cost centers, which are aggregations of wells, and individual oil or gas wells. You can use this window to define up to 12 cost centers and 9,999 wells per activity.
  • Enter setup information regarding oil and gas cost centers and wells for transfer to UltraTax CS in this window.
  • To speed up data entry, move
    Oil & Gas
     to the top of the Asset Detail window. During data entry, this allows you to select the well description from
    Oil & Gas
    , enter the Cost/Basis, and when you select
    Units of Production
     from the dropdown list in
    Method
    , the application automatically enters that well's beginning reserves and current-year production amounts.

Fields and buttons

Displays the name of the current activity.
Lists all oil or gas cost center and well combinations that have been entered for the selected activity.
Displays the cost center (1 - 12) for the selected business activity and well.
  • To
    add
     a cost center or well, select Add and enter a number (1 - 12) in the
    Cost center
     box. Enter the well number (1 - 9,999), description, beginning reserves, and current-year production, then select Enter.
  • To
    edit
     information for an existing cost center or well, select the item in the Well Description list then select Edit.
  • To
    delete
     an existing cost center or well, select the item in the Well Description list then select Delete.
When adding a cost center or well, enter its number (1 - 9,999) in this box.
For existing cost centers and wells, this displays the number of the selected cost center or well.
When adding a cost center or well, enter its description (up to 36 characters) in this box. This description will be included in the dropdown list for
Oil and gas
 that is located either at the top of the Asset Detail window or in the Associations group box on the Other tab.
For existing cost centers and wells, this displays the description of the selected cost center or well.
When adding a cost center or well, enter in this box the total amount of oil or gas reserves estimated to exist when the well was put into service.
For existing cost centers and wells, this box displays this information for the selected cost center or well.
When adding a cost center or well, enter in this box the amount of oil or gas produced in the current year.
For existing cost centers and wells, this box displays this information for the selected cost center or well.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close