Customize your oil & gas accounting software for more functionality
In our 24+ years in business working with oil and gas operators and accountants, we know that each business is unique in how and what processes it needs to handle revenue distributions. These processes are sometimes complex enough that a whole new software program is used. It’s why we often suggest clients customize their oil & gas accounting software to get more functionality.
What falls outside of normal distribution processes?
Commons tasks often include: Delay Rental Payments, Authorization for Expenditure (AFE), Free House Gas, and State Reporting requirements. Most oil and gas accounting software programs will offer optional modules to make the standard software more functional.
This allows you to handle multiple tasks within one software program.
How operators sometimes handle this
Smaller companies will often manage with spreadsheets. While sometimes cheaper, these aren’t as professional and can be timely to use and update as your company grows. Mistakes are often made with spreadsheets and these can quickly become costly in terms of both money and public image.
The time spent managing your spreadsheets should also be considered. The labor will affect your bottom line and sometimes you just don’t have the extra time.
When mistakes, public image, labor, and peace of mind are all factored in, it quickly becomes obvious that the cost of an add-on module is a huge savings.
A simple add-on module allows for better historical records, a more professional look and any costs are typically recouped in only a few months.
Some of the optional modules SherWare offers clients include:
Advanced Reporting (build your own reports)