Oil and gas – PetroComp Accounting
Solutions and services for the U.S.
CGI PetroComp™ Accounting is a robust, easy-to-use oil and gas accounting system that handles everything from general accounting functions, such as payables, receivables, general ledger and financial reporting, to joint venture accounting, such as AFE reporting, joint interest billing and revenue distributions. It can even handle your multi-company (intercompany) and payroll needs.
CGI PetroComp Accounting drives enterprise efficiencies by integrating your accounting, land, and production processes. It also empowers you to assess your cost management effectiveness through drill-down capabilities from financial statements to original details.
You’ll be surprised by how easily and intuitively the system helps you complete the once complex aspects of your job. CGI PetroComp Accounting is fully integrated with the Microsoft Dynamics® SL financial system to provide a total enterprise solution that can be scaled to meet your specific business and technology requirements.
CGI PetroComp Accounting features
CGI PetroComp Accounting offers a wealth of features to improve your accounting, land and production management, including the following:
- Handles daily accounting transactions, as well as revenue suspense, transfers and reversals and non-consent joint interest billing charges
- Captures expenses and effectively distributes to joint venture partners
- Manages capital and major operating projects in the AFE application, providing information for budget forecasting
- Maintains accounting records, current-year budgets, gross revenues and expenditures, inception-to-date figures, prior-year information and sales volumes in
the general ledger
- Performs online balancing of journal entries
- Maintains data by account and cost center to ensure accurate record keeping by property, lease, prospect and department
- Simplifies A/P processes with system defaults for due dates, discounts, checking accounts, expense accounts and vendor status
- Tracks cash receipts, prepayments and credits in the A/R application
- Captures, verifies, records and distributes revenues with features such as MMS 2014 reporting, CDEX, automatic reversals, revenue allocations, first purchaser functions and spreadsheet uploads in the revenue distribution application
- Allows quick creation of financial and operations reports via the FRx financial reporting tool or through data exports to desktop database, word processing and
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