Oil & Gas Outsourced Accounting
We’ll manage your company’s accounting functions so you can focus on finding, producing and selling oil and gas reserves.23>
By outsourcing all or part of your accounting, you benefit from the advice and assistance of CPAs with vast oil and gas industry experience. We take a holistic approach to help our clients succeed and assign an account contact for each of our client’s services – be it for revenue or joint interest billing or any other service.
Accelerating results with advanced software.
From tax planning to audits and more, our outsourcing uses WolfePak, a proven oil and gas accounting software that allows multiple reporting options and integrates with other industry software programs. More than providing expert advice and assistance, we approach upstream Oil & Gas accounting as a CPA firm, keeping detailed work papers and schedules in the same manner as if we were conducting an audit.
Our outsourcing services include:
Revenue Accounting and Joint Interest Billing
We maintain your DOI and NRI decks and make accurate interest-owner distributions for the sale of oil and gas products and for joint interest owner costs, plus more.
We process all of your accounts payable, property costs and general and administrative costs, and ensure related invoices are entered accurately and timely paid.
We set up all necessary information related to acquisitions and account for any divestitures.
Financial and Operational Reporting
We provide varied financial reports ranging from a cash-basis trial balance to audit-ready, GAAP-based financial statements.
We ensure compliance with the complex local, state and federal taxes, royalty and 1099 reporting associated with your operations.
Audit Support Services
We interact with the independent CPAs to ensure that any audit, review or compilation services and tax compliance are conducted effectively and efficiently.