Oil and gas joint venture accounting requires accurate allocation of costs to partners and creation of Joint Venture Interest Billing statements and invoices for cost recovery.
Constant changes in equity creates complexity for the JV accounting function. With TouchstoneEnergy's automated cutback system, companies can make ownership adjustments quickly and easily, with a full audit trail, enabling fast and accurate reporting to partners.
TouchstoneEnergy's Cutback automation process generates all of the necessary accounting entries, taking caps and carries into consideration along with equity changes with none of the limitations of traditional accounting systems.
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