OGsql

OGsql is an oil and gas information system software that provides accounting to the Oil and Gas industry. It is designed to handle all phases of the industry, from exploration, drilling, joint venture, partnership accounting, depletion, and most of all--executive reporting instantly--during any period.

Accounting System

Accounts Payable

OGsql Accounts Payable (AP) processing is used to record and pay invoices, view a vendor's account activity on screen, and process 1099 forms at the end of the tax year.

Features / Benefits:

• Standard (Recurring) Invoice Creation and Generation
• Simultaneous Updating of General Ledger, Billing Ledger and Subledgers
• Real-Time Financial Reporting
• Exportable Reports Viewable in Excel
• Gross to Net Calculation Checks
• Checks in Place for Duplicate Invoices, Proper Account, Well and AFE Codes
• User ID Based Security Application
• Monthly Close Feature
• Electronic Upload of AP Invoices Supported

Accounts Receivable

OGsql Accounts Receivable (AR) Processing is used to generate & record miscellaneous, interest and gas invoices, post owner and client payments or adjustments on invoices, and inquire about the status of owner accounts.

Features / Benefits:

• Standard (Recurring) Invoice Creation and Generation
• Simultaneous Updating of General Ledger, Billing Ledger and Subledgers
• Real-Time Financial Reporting
• Exportable Reports Viewable in Excel
• Fast Track Reporting Provides Color Invoices with Custom Logo
• User ID Based Security Application
• Monthly Close Feature

Fixed Assets Processing

OGsql Fixed Assets processing is used to record information relating to the maintenance of assets, including depreciation and depletion calculations.

Features / Benefits:

• User Defined Depreciation Schedules
• A Depletion Function is Provided Allowing the Tracking of Sales and Production History
• Calculates depreciation using standard or user-defined methods on monthly, quarterly, or annual basis
• Supports Up to Four 'Books' Per Company (IRS, AMT, STATE, INTERNAL)
• Full General Ledger Integration
• Provides for Multiple Depreciation Methods (MACRS, S/L, DDB, etc.), and Offers Units of Production Methods for Well Related Assets
• Accepts Asset Candidates from Accounts Payable Invoices and Journal Entries
• The Fixed Asset Accounts have a Supporting Sub-Ledger
• The Sub-Ledger Totals can be Reconciled to the Corresponding General Ledger Balances
• All Standard Conventions Such as Mid-Month, Mid-Quarter, Half-Year, etc. are Supported.

General Ledger

OGsql General Ledger (GL) Processing is used to enter manual journal entries, generate and print financial or property reports, and enter AFE budgetary information.

Features / Benefits:

• Flexible Data Entry
• Standard (Recurring) Entry Creation and Generation
• Detailed GL Account Reporting Options
• Customizable Financial Report Templates
• Exportable to XML for Reports That are Viewable in Excel
• Real-Time Reporting Capabilities
• Electronic Uploading Transactions

Inventory

The OGsql Inventory module maintains inventory balances from multiple companies and multiple locations including remote sites.

Features / Benefits:

• Inventory Valuation Methods Include Standard Cost, FIFO, LIFO and Weighted Average
• Inventory Movement is Controlled Through Receipts, Transfers, Issues, and Adjustments
• Process Receipts Against PO's, Transfers Out, Transfers In, Issues to Wells, Manual Adjustments to Inventory, and Cycle Counts
• Create Purchase Requisitions
• Issue and Receive Purchase Orders
• Account for Inventory Using Multiple Costing Methods
• Record Physical Inventory Counts
• Transfer Inventory Between Locations and From Remote Locations
• Reports Show All Inventory Amounts and Activity as Well as Variances

Joint Interest Billing

The primary function of OGsql Joint Interest Billing (JIB) Processing is to print the JIB invoices. The solution has automated partners as well--both Oildex and Red Dog.

Features / Benefits:

• Enter and Post Owner Advance Billing Invoices
• Print a Billing Pre-List
• Change the Billing Status of Owner or Well Items
• Billing Invoices Can Be Done More Than Once a Month
• Automation of Recurring Charges Through Standard Invoices

Multi-Currency Processing

This program is for international operations where in-country and domestic activity must be tracked and reported to meet the requirements set forth by local governments.

Features / Benefits:

• Enables Users to Track Payments and Report Activity in Multiple Currencies
• Automatically Creates Transactional Gain or Loss Entries in the General Ledger
• Periodic Translational Gain and Loss Calculations are Made to the General Ledger Reports
• Currency Conversion Rates are Date-Driven and Allow Multiple Rates Per Day Per Currency (ie. a Buy Rate and a Sell Rate)

Partnerships

Partnership processing is used to track, allocate and report on the financial positions of all partners in a general partnership based on each partner's ownership interest.

Features / Benefits:

• Partners May be Identified as Either General or Limited Partners
• Functionally Allocates to the General Ledger Accounts within Partner Groups (General & Limited)
• Prepares K1's
• Tracks Multiple Partnerships for Partner Groups
• Maintains Data by Partnership and Individual Partner
• Records Contributions and Makes Distributions of Partner Capital
• Fully Interfaced to the General Ledger of the Partnership

Revenue Processing

OGsql Revenue processing allows the user to record purchaser checks, inquire about the status of an owner's revenue, and print Revenue Summary Statements and Revenue Checks.

Features / Benefits:

• Simultaneous Posting to General Ledger and All Associated Sub Ledgers
• Customizable Purchaser Check Input Screens
• Tracking of Missing Purchaser Checks
• The Ability to Print Revenue Detail on Check Stub or Issue Separate Statements
• Automate Payout Statements by Well or Owner
• Allows the Netting of Revenue to Billings
• Eliminate Manual Entry with Electronic Revenue Uploads (CDEX)

Production Accounting

OGsql PRODUCTION ACCOUNTING is used to track production, sales, and a wide variety of other dispositions on a monthly basis, back to the well's inception.

Features / Benefits:

• Tracks Product Movement and Maintains Production History
• State and Federal Reports are Available in Printed or Electronic Form
• Interaction with the Revenue Module for Comparison of Sales Activity
• Data Entry Screens are Customizable
• Electronic Upload of Production Information Available

Land Management

OGsql LAND MANAGEMENT is used to automate the process of tracking the acquisition and development of oil and gas leases.

Features / Benefits:

• Ability to Obtain Timely and Pertinent Information About an Individual Lease
• Ability to Report on a Group of Leases by User Specific Selection
• Lease Payments are Integrated into the Accounting System
• Shared Data Between Land and Accounting
• Customized Lease Reporting

Document Management

Features / Benefits:

• Easy Access Documents
• Workflow Tools for Electronic Capture, Secure Storage, and User-Defined Approval Processes
• Direct Validations and Automated Approval
• Eliminates Duplicate Data Entry
• Store Scanned Documents, Word Processor Documents, Email, CAD Files, Spreadsheets, Images, Videos, and More