Oil and Gas Bookkeeping Services

We can handle some or all of your oil and gas bookkeeping needs.

oil and gas business solutions, oil and gas joint interest billing, oil and gas accounts payable, oil and gas bookkeeping

As an independent operator or investor, your time is best spent focused on driving your business, not processing and managing your payables, JIB statements and revenue distribution checks.

Your OGBS bookkeeper and staff handles all your daily bookkeeping needs and will be in contact with you by email or phone with any questions or concerns as they arise.

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 - we know what works and what doesn't and can tailor a solution to best fit your Engr/Ops personnel and management team
  • Baseline chart of accounts and system configuration can offer you a good jump start with the ability to customize and configure to best suite your needs
  • Receive, code, and enter vendor invoices.
  • Process and mail weekly vendor check runs
  • 1099 processing and IRS filing

OIL AND GAS REVENUE

  • Checkstub data processing; manual entry and electronic (Oildex)
  • Process and mail revenue checks
  • Electronic funds transfer
  • 1099 processing and IRS filing

OIL AND GAS JOINT INTEREST BILLING

  • Process and mail JIB statements and invoices
  • Unit and well allocations
  • Electronic JIB data processing (Oildex)
  • Maintain and track AFEs
  • Joint Interest Audits

OIL AND GAS FINANCIAL & OPERATIONAL REPORTING

  • Prepare and maintain general ledger
  • Enter journal entries
  • Establish cost centers for grouped reporting and allocations

OIL AND GAS TREASURY

  • Perform monthly bank reconciliation
  • Record and verify accurate payment of company interest
  • Setup lock box and remote disbursement accounts
  • Check signatory & controls
  • Electronic funds transfer (ACH)
  • Positive Pay