Oil & Gas
JV Partner Billings — Monthly Cost Statement
The operator bills non-operating partners for their share of monthly JV operating costs.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| JV Receivable (Partner Billings) | Asset (+) | 4,000,000.00 | - |
| JV Cash Calls Received (Liability) | Liability (-) | 4,000,000.00 | - |
💡 Accountant's Note
The operator prepares monthly cost statements (JV billing statements) allocating actual costs to each partner per their working interest. The advance (liability) is converted to a billing receivable as costs are allocated.
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