Posted by Marcus Kelly - TouchstoneEnergy
Joint Venture accounting within the Upstream Oil & Gas sector often overwhelms the existing core finance function.
TouchstoneEnergy has developed a sector-specific application which allows Oil and Gas companies to optimise, monitor and better control their Joint Venture processes.
The Joint Venture processing module is designed to incorporate functionality that overcomes the shortcomings of a traditional finance system.
This allows you to say goodbye to common Joint Venture accounting problems such as:
• Allocation rules that are complicated to configure & maintain
• Performance issues when running your existing processes
• Limited & confusing reports
• Unable to run cutback more than once per period (journal control)
• Limited data filtering options
• Unable to generate invoices with VAT and/or finance charges included
• Unable to handle carried interests and cost capping
• Unable to manage partner interest shares to more than 2 decimals
TouchstoneEnergy's Joint Venture Accounting module and the full range of their Oil and Gas business processes are designed to work with any existing standard accounting system including INFOR SunSystems, SAP, Oracle, Microsoft NAV.
Discover the full solution today
Visit source siteTouchstonejoint ventureJoint Operating Agreementoil and gas accountingBusiness ProcessLondonUnited KingdomHoustonUnited States