Oil and Gas Accounts Payable and Joint Interest Billing

Tailored Oil and Gas Solutions to Best Fit Your Team

Oil and gas business solutions, prepayment tracking, oil and gas solutions, joint interest billing

Stay on top of your payables and get your partners their JIB statements on the same day each month with the level of detail and a format that makes sense. We know what works and can tailor a solution to best fit your team.

OIL AND GAS ACCOUNTS PAYABLE

  • Receive, enter, scan, & route vendor invoices
  • Accounts Payable Invoice work flow including coding and approval work flow and electronic paperless options
  • Baseline chart of accounts and system configurations, configured to best suit your needs
  • Variety of allocation options are available i.e. straight percentage, volume or sales based
  • Process and mail weekly vendor check runs
  • 1099 processing and IRS filing

OIL AND GAS AFE's AND PREPAYMENT TRACKING

  • Create and maintain AFE's and track actuals to estimates each month
  • The ability to maintain and report pre-payments per AFE for each owner alongside their existing JIB AR balance - show how much has been applied and how much remains
  • Ability to apply specific charges to an AFE for a well but not all charges
  • Support multiple AFE's and phases for a given well - ability to create AFE templates

OIL AND GAS JOINT INTEREST BILLING & ACCOUNTS RECEIVABLE

  • Maintain and up to date balance of what your working interest partners owe you by well and AFE, with a variety of options for AR aging and statements reporting
  • Maintain ledger of owners share of billable expenses for one or many owners. Maintain ledger at a summary or detail level as configured, all the while maintaining the well 88's expenses in detail
  • Multiple netting and reporting options
  • Run a 'Simulation' JIB before finalizing to see your results and reconcile issues