WolfePak Revenue Distribution

A system that handles suspense information for each owner and allows real-time entries to the general ledger. The WolfePak revenue distribution module gives you the detail and control you need with an audit trail for investor oversight.

WolfePak Revenue Distribution

The detail and control you need to manage extensive holdings with changing ownership

If your company’s growing and managing extensive holdings with multiple owners, you’ll need a system that handles suspense information for each owner and allows real-time entries to the general ledger. The WolfePak revenue distribution module gives you the detail and control you need with an audit trail for investor oversight.

Maintains detail-level suspense information for each owner and real-time entries to GL with changes made to suspense (automated suspense detail to GL control account checking with every revenue run)
Cash flow and historical reporting
1099 detail reporting summarized by lease and state of each check for owner updates
Easy correction of distribution problems for multiple months at the same time, including prior month distribution with different effective decks in error — handles owners in legal/petty suspense and those already paid
Multiple netting options with special programming
- Print separate or combined revenue and JIB statements
- Simple company option can change as your business grows
Send revenue statements electronically using multiple criteria
When owners sell or pass away, WolfePak utilities handle mass ownership changes (DOI) across selected or all properties quickly and easily
Perform detailed or mass changes of pay status by owner or well
Owner summary screen shows last two payments and displays if they have cleared, been voided or are outstanding (also shows owner’s minimum payment code, netting options, A/R accounts, pay status, suspense, etc.)
State/federal backup withholding

Suspense

Place interests in legal suspense with up to 99 different reason codes
Set petty suspense limits for each owner
Automatically adds voided check detail to suspense
Petty suspense can be flushed at any time

Unlimited product distribution
Combine multiple partnership payments on a single check or print multiple checks to one owner from separate bank accounts for each partnership
Send payments via ACH or wire and send detail via email
YTD check stub totals include working and royalty interest
Maintains audit trail of amounts in or out of petty and legal suspense
Uniform holding of all transactions to owner at lease level
Calculates severance tax automatically
Handles distributions:
- Less than 100% leases
- To non-taxable entities
- To entities that don’t pay specific types of marketing deductions
- Redistribution of owner suspense entries to another owner(s)
Automatic computation/deduction of lease-level plugging fund
Investor interface creates entries when revenue and billing cycle posts to account for individual owner shares of billing or revenue