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Joint Venture Accounting (JVA)

Calculate Payroll Burden

System calculated payroll burden Burden rates maintained by state, job type and effective date COPAS benefit maximum maintained and validated User-defined posting options and rates maintained for payroll taxes, insurance, benefits and non-productive time

Calculate Overhead

Drilling and producing overhead calculated on combined fixed-rate and percentage methods Construction and catastrophe overhead calculated with cost threshold ranges and tiered percentages COPAS escalation factors are tracked and used in computation of annual adjustment of rates Overhead category, method and rates based on joint operating agreement

Calculate Utilization

Vehicle costs calculated using PMTA rates, classes and areas User-defined posting options for vehicles, equipment and employee expenses User-designed templates used for monthly input of utilization data Employee expense calculation uses technical employee and offsite/onsite provisions from joint operating agreement Tracks data on vehicles, such as VIN number, location, last oil changes, etc.

Division of Interest (DOI)

Multiple cost centers per DOI Unique JVA and AFE DOIs Enhanced security for DOI maintenance Partnership DOI Complete audit reporting of all maintenance

Allocate Costs

Multi-tier allocations with audit trail Allocations based on producing well count, pre-determined percentage or other formulas Allocation history maintained for corrections Date sensitive allocations select correct division of interest for transaction service date

Manage Cash Calls

Automated statement and invoice generation May be scheduled for regular processing or on demand Automatic reversal of cash calls Lease operating expenses cash calls calculated on rolling average or fixed amount

Billing Processing

Ability to track costs at a gross and net level Support for partnership and inter-company interests

Generate Invoices and Statements

Generation can be scheduled or requested User-defined options (e.g., billable parties, level of detail, timing, etc.) System defaults for billing thresholds-minimum value or calendar period User-defined suspense accounts EDI support

Analyze Operating Costs/Operated by Others

Ability to pay the operator for the net amount due, while providing the flexibility to evaluate the gross well economics
Software Tobin Data and GIS A to Z


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