Oil and Gas Revenue Entry and Distribution

Deep Oil and Gas Experience and Best Practice

backoffice services, accounting software and backoffice services, revenue distribution and reporting

Oil & Gas Business Solutions accounting software and backoffice services are 100 percent Internet-enabled so that you select the right level of involvement and control to customize a partnership with our professional team.

REVENUE (CHECKSTUB) DATA ENTRY

  • Ability to perform high volume of manual entry and electronic processing
  • Support multiple electronic sources (Oildex, PDS, direct from the purchaser, other)
  • Standardized set of quality assurance processes to test prices, date ranges, interest and other factors to ensure the accuracy and validity of all check stub detail
  • SAS70 certified processes for revenue recognition services
  • Maintain interest paid, well detail, purchaser well numbers and owners numbers
  • Record deposits and reconcile/balance revenue received, taxes and other paid vs distribution
  • Customized processes to delineate key attributes for property taxes, state withholding and other charges and deductions that can have key tax implications for your properties

REVENUE (CHECKSTUB) DATA ENTRY

  • Ability to perform high volume of manual entry and electronic processing
  • Support multiple electronic sources (Oildex, PDS, direct from the purchaser, other)
  • Standardized set of quality assurance processes to test prices, date ranges, interest and other factors to ensure the accuracy and validity of all check stub detail
  • SAS70 certified processes for revenue recognition services
  • Maintain interest paid, well detail, purchaser well numbers and owners numbers
  • Record deposits and reconcile/balance revenue received, taxes and other paid vs distribution
  • Customized processes to delineate key attributes for property taxes, state withholding and other charges and deductions that can have key tax implications for your properties

REVENUE DISTRIBUTION & REPORTING

  • Volume printing, stuffing, mailing with ACH and Positive Pay capabilities
  • Variety of owner/partner relations web sites available
  • Lock box and deposit support with all distributions balanced to deposits
  • Reporting by well and owner by product and interest type: gross, volumes, net, tax, deductions
  • Generate and distribute annual 1099's and/or K1's for tax reporting
  • Custom reporting options supporting a full general ledger, variety of well operating statements and customized Excel extracts for owners share and well totals

REVENUE OWNER, WELL, DOI, SUSPENSE MAINTENANCE

  • Perform owner and DOI maintenance per agreed upon change request process
  • Perform suspense maintenance, re-distribution, and check void/re-issues as warranted
  • Perform annual 'flush' of suspense for minimum payments and escheating reporting/payments
  • Ability to perform owner relations services with dedicated web site and 800 phone service