A web-based software system designed by Avatar Systems for agriculture/forestry/fishing/mining and manufacturing companies.
Avatar 400 is an accounting system specifically used on the IBM AS/400 Operating System. This modular based solution is capable of handling every financial need that arises as a result of your involvement in the petroleum industry. This modular product has many applications (all of which have descriptions below). The applications listed are all met by implementing the following modules are all found in the following modules:
The Avatar400 accounts payable function reads the general ledger detail for inquiry purposes. Any report and inquiry screen will be tied to the general ledger. All reports and inquiry screens reflect the information as current as the last posting of invoice batches. The accounts payable function gives you the ability to:
In the Avatar Accounting System, the accounts receivable module, like the payables module actually reads the general ledger detail for the information it prints on reports and for inquiry purposes. All reports and inquiries will be tied to the general ledger. All reports and inquiry screens reflect the information as current as the last posting to the general ledger. The accounts receivable system gives you the ability to:
Budgeting in Avatar 400 can be done for G&A or property related charges. All budgets within the system are maintained by fiscal or calendar year; and can be copied from one year to the next. You are given the option of showing budgeted amounts on a monthly or annual basis. All reports associated with budgeting are user defined.
To aid in your fixed asset management Avatar400 features a detailed depreciation system. This system allows for book, tax, ace, and alternative tax methods. You can also choose to have the system automatically create asset records when extracting entries from the general ledger, or to manually create them yourself. Additionally the system can analyze the 40% rule and perform any necessary reprocessing. Finally, if the depreciation methods within Avatar400 do not satisfy your needs; you can choose to define your own depreciation methods.
The Avatar400 general ledger allows you to keep 12 months open at a time. Additionally, you can keep another 12 months prior to the last closed accounting period. Once you close an accounting period, you can open it up again and make adjusting entries. This is done by simply changing one corporate control record. These prior period adjustments can also be made into closed fiscal years. Transactions older than 12 months are moved into the G/L history files; they can then be inquired into, or printed on history reports. Upon making entries into the general ledger, the system automatically calculates your company’s share of the expenses, allowing you to run reports at any point in time. With this module you have the ability to:
The Inventory module of Avatar400 maximizes your ability to control your costs. This system can effectively track all of your equipment and supplies. This system allows you to easily find the location and quantities of all of your equipment. This system can help your business by:
The joint interest billing process in Avatar400 can be run as many times in a month as you desire. When running the Joint Interest Billing process, only entries that have not been disbursed (at the time of running) will be selected. The Joint Interest Billing process automatically updates accounts receivables when it is run.
The JIB system will:
Accompanying your involvement in the Oil and Gas industries is the need to buy or lease, and manage land. Land is a vital asset when it comes to your industry, and oftentimes the need to use multiple properties causes problems. The Land Management system in Avatar400 is used to effectively control a complex land management environment. The system consists of three parts: the Lease Master Record, the Land Management Inquiry SubSystem, and the Contractual Obligations System.
Lease Master Record You can enter lease information into the lease master record providing you with a single storage space for you to completely all of your pertinent leases. Leases are entered through 16 different screens, only the first 3 of which are required. All leases are assigned seven digit numbers for posting in the accounting system; additionally a 30 character name field and an 18 digit lease reference number are used. All of these fields can be used to search for the lease. Payments generated within the Land Management System are automatically updated and posted in the accounting system.
Land Management Inquiry Subsystem This system allows you to search, sort, and view leases on one of 32 different dimensions. An example of some of these are: Primary Name & Address, Well to Unit, Units, Wells, Districts, Prospects, Fields, Region, Country, Units to district, Lease by Country, Lease by Lessor, etc.
Contractual Obligations System The Contractual Obligations System provides you with one-point storage for all of your contractual obligations. There are 6 screens prompting you for information when entering a contract; however like the Lease Master Record, not all are required. Inquiries can be made into the contract database as well.
This application of Avatar400 allows you to calculate and distribute payroll checks. Integration with the accounting package allows you to tie payroll data to your accounting information. The Avatar Payroll System allocates payroll costs that are often unrecognized to the appropriate department. These expenses include FICA taxes, workers’ compensation taxes, Medicare, and unemployment. Your managers are then able to track where all of your payroll dollars are allocated. To meet regulatory standards, you can use the magnetic media filing capability to file W-2s and 1099s. This system will help you by:
With Avatar400’s Production Management System you will be given the required tools you need to properly run your business. The versatile sorting features allow your staff (engineers, geologists, managers, etc) to gather the production data their specific field requires. Using this data, your staff will be able to make better decisions, more quickly. Streamlined data entry reduces the amount of time your staff spends entering data, effectively freeing up hours of time. The system then automatically tracks the production data of oil and gas; and generates production reports. This system will allow you to:
Avatar400 features both property and financial report writers; as well as many additional report writers incorporated into the individual applications.
Property Report Writers All report writers are completely user defined. The property report places the names and numbers in the left column, the remaining 15 columns can have any data you desire collected in it. The report will print one line per property, with the ability to use the hierarchical features to roll-up. Reports can be printed to paper or to a file on your PC. All revenue amounts can be printed in dollars or columns (or both).
Financial Report Writers The financial reports, like the property reports, are also completely user defined. You are able to decide what order the accounts are printed, and where headings and totals are inserted. Each corporation can have up to 99 formats, allowing you to, for example use one format for in-house, one for the bank, and one for auditors. Financial reports can be printed for individual corporations or a consolidated list of multiple corporations. Each report can contain up to four different periods, each appearing as a separate column on the report allowing for comparisons. Reports can be run for any accounting period past or present.
The following reports can be printed through other applications of Avatar400
This module allows you to automatically accrue revenue for all properties monthly. The System accrues revenues for properties at the purchaser level. The accrual is automatically generated if payment has not been received for a production month. Accruals can be automatically reversed from month to month. They use actual sales volumes from Avatar’s Production Information Management System. If sales volumes are not available, a moving average of the last three, two, or one month’s sales volumes is used to generate the accrual. Prior months’ accruals are reactivated in the current accrual month if payment for the prior months has not been received.
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