Verity Solutions

SAP PRA Training

Key Features

  • 24 Hrs Instructor-led Training
  • 48 Hrs Self-paced Videos
  • 48 Hrs Project Work & Exercises
  • Flexible Schedule
  • 24 x 7 Lifetime Support & Access
  • Certification and Job Assistance

Overview

SAP PRA  – Training in Houston

Our PRA Training includes Gas Plant accounting training, Crown Royalty Invoice processing training, Canadian PRA, PRA NGL processing,  Process 2.0 workplace, compliance training and Oil and gas Fundamentals

Training topics Covered

 

Production Module
0.Concepts in Production Module( Allocated V/s Non Allocated Networks )
1.Create Field and Reservoir
2.Create Well
3.Create Measurement Point (MP)
4.Create Delivery Network (DN)
5.Create DN Structure
6.Create DN Allocation profile
7.Create MP Allocation Profile
8.Create Th Calc Allocation profile
9.Create Well test and Downtime
10.Enter Production Volumes at MP for Allocated and Well for Non Allocated
11.Allocate and Close Production only for Allocated Networks in the Delivery Network workplace
12.Review Well completion Volumes or production spools
13. Enter Well completion volumes directly for non allocated Networks

 

Contractual Allocations Module

0.Concepts in Contractual Allocations ( Division order of Sales and Sales point Originated )
1.Create Contracts – Gas sales contracts, Oil sales Contracts, TIK etc
2.Create MP Contract Transporter XRef
3.Enter contract Quantities only for Gas and Sales point Originated
4.Enter Simple Plant Function – SPF Volumes – for NGL allocation
5.Contractual allocation and  Close CA
6.Review CA Volumes

 

Ownership Module
0.Concepts in Ownership module and JVA integration
0. Review JVA venture created in JVA module
1.Create Venture in PRA and Venture DOI
2.Review the Venture DOI  ( RI and WI percent’s )
3.Create DOI to MP/WC Xref
4.Create DOI Accounting ( System Valued, Check input and settlement statement )
5.Create Tax Calculation data
6.Create Formulas
7.Create VCR
8.Create Marketing Costs
9.Create Pricing for contracts and Settlement Diversity
10.Value Volume in Revenue and Post accounting document to FI

 

Compliance Module
0. Create Reporting Profiles
1.Create master data  for Severance taxes for States, State Royalty and Federal ONRR
2.File severance taxes to Texas (TX1, TX2), Wyoming, North Dakota State taxes etc
2.1 File State Royalty payables to all states ( GLO1, GLO2 )
4.File ONRR 2014 Federal Taxes (ONRR-2014 Report )
Compliance Reporting Prepare, Validate , Extract, Journalize , Finalize

 

Other Month end Steps for PRA
Accounts Receivable workplace review and recon
Check input for operated and non operated properties
Run Payment process pay Royalty Interest Owners
Run JIB Payment process and pay Working interest owners
Value inventory

 

Close PRA

FICO Month End Process for Oil and Gas
Execute PPA Interface
Load SABRIX Sales Tax Rates
Load foreign currency rate
Close AP and MM for Close Month and open next Month
Accrual Reversals
Recurring Entries
Asset Depreciation
Overhead allocation
Manual SKF loads
Intercompany Billing
Settlement for projects Allocations Run
UOP Depreciation
JV Cutback Activities
CUTOFF All non billable revenue, cash postings, outside operated JIBs
JV Billing, Netting, Dunning Activities
Final Adjustments for the Business Units
Currency Revaluation
Consolidation

 

Please visit the below for more information.

 

PRA Formula Calculation

 

Preprocessing steps:
User should make sure that below mentioned test data exists in the system to execute the test case.
1. A delivery network exists.
2. Production allocation for the delivery network for a sales date is run successfully.
3. Contractual allocation for the delivery network for the same sales date run successfully.
4. The delievry network should be values and posted successfully.

 

From the SAP Easy Access menu, choose, Logistics -> Production and Revenue Accounting -> Revenue Accounting -> Valuation -> Valuation Processing -> Reports

 

User should be navigated to screen titled Formula Calculation with selection criteria – Delivery Network, Salesdate, Document number, venture, DOI, Contract, well number, well completion number, Measurement point with upper & lower limit ranges
Button – execute. User is allowed to save the variants for the selection criteria maintained in the screen.

User is navigated to screen with two panels and buttons – execute, toggle list, formula id
Check that user is required to maintain the selection criteria as – Combination of delivery network & sales date / Combination of delivery network & document number / Combination of sales date & document number / Combination of delivery network, sales
date & document number / Document number alone.
Left panel shows an ALV list to display all the transactional line items for the valuation document. Right panel shows tabs – – Actuals – displaying formula details for
actual – Entitledment – displaying formula details for
entitlement – Settlement – displaying.

 

Formula Calculation Report

•Need ability to see a step by step depiction of the calculation used in valuation formulas.
•Report should be ad hoc or on demand.
•The report should display formulas and results for both sales formulas and settlement diversity formulas.
•Business requirement for selection criteria: “Delivery Network/Sales Date” or “Valuation Document number” as mandatory fields and optional fields like “Venture/DOI/Contract/Well/WC/MP”.
•The report needs to display Actuals separate from Entitlements.
•Report should display each reserve word separately and depict what values were used in each reserve words calculation.

Talk to Us

1-419-408-3178

1-419-408-3178

Fees

$500.00

Curriculum

Topics for this course

 Learn the Oil and Gas business to lead PRA meetings confidently and design PRA solutions for your client.

 Understand how to configure the system and learn the PRA skills for fixing your issues faster.

Resolve month end issues faster by learning how to troubleshoot issues faster. 

When you master PRA and not kinda sorta know it, you can increase your pay and be on projects for much longer by being the go-to person for PRA.

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    Training FAQ

    So, guys, I can tell you no one else can give you this much value for your success. Are you extremely happy with your current career? If you’re extremely happy, then that’s great. But if you’re not and you want things to change, then you have to take certain steps for that.

                                                                                 And what if this investment could actually make all those things possible? You might be thinking say it sounds like it’s complicated. I’m not a genius. I can’t do this. But it’s really not that hard. It’s like a smart excel with some hard work. You can pick it up pretty quickly so you can either have a better career now or start giving excuses. All these excuses come to our mind. Maybe later on I can do this or so on.

    Joint Venture Accounting is very popular in the Oil and Gas industry. Very few people are good at it so the rates of PRA are very good. Regular SAP modules like FICO are getting saturated and the rates are going down. PRA is a niche skill that will help you progress in your career. This SAP PRA training will ensure that you master this niche skill.

    This SAP Joint Venture Accounting training is professionally recorded. Live training has a lot of distractions as other students might ask questions and distract the class or the class might move at a very fast pace and you might skip learning something important.

    As an early adopter, you will have lifetime access to this PRA online course. This will include free updates to the course.

    Details can be found in the “course details” section above. Everything in SAP PRA is covered in this course. If you find that something is not covered, then please contact us and we will update the course.