Financial Reporting

Petroware2000 makes the process of financial reporting an ease. This system can manage to find and extract information from even the largest databases. The easy to create, read and email reports in Petroware2000 are your financial executive’s dream. With financial reports, your executives can make crucial business decisions knowing they have the most complete knowledge available. Reports with Petroware 2000 are an easy way to get your data organized and present your company’s financial condition in an accurate and current fashion. Accounts Payable and Receivable can both be reported at any point in time; meaning you will never have to wait for month end processing to view such information. In a process exclusive to Petroware 2000, allocations take place with each posting of a transaction. With Petroware2000 you will be privy to the following features:

• Live 24/7 Financial report to the Company Owner’s share, meaning reports are automatically sent immediately after completion.
• All reports can be easily viewed, sorted, exported and emailed.
• Petroware2000’s exclusive “easy lookup“ for selection of criteria.
• Details behind the summary amounts allow for drilling-down
• Printing options that include optional zero account balance exclusion.
• Summary line format or detail line format with wrapping detail from entries, give you options in reporting formats.
• Customizable reports let each user decide the information layout and gathering criteria, used in constructing your user defined reports.
• Lease Operating Statements that can use any combination of user-defined hierarchical levels to run P&L by MULTIPLE levels and also by 8/8’s, NRI, Single Owner plus multiple variations.
• Ability to include/exclude beginning balance to note period change.
• General Ledger Detail inquiry, allow you to see every entry (debits and credits) for a given transaction.
• User defined access by the Administrator for internal security.

Property Reporting

Property reporting with Petroware2000 allows you unrivaled versatility in your property reporting processes. With this product you can roll-up reports to all wells on a lease (the lease level) or roll-down to the individual well (well level); clients have the options to print all owners into the report or a single owner, by all the owner’s interest, or by ANY type of interest. An example of Petroware2000’s versatility is found in the fact that it gives you the ability to run a cost based analysis for multiple interests acquired by the owner over the life of a well. Other features included with the property reporting abilities of Petroware2000 are:

• Upper management can view balances anytime of day; even before the JIB or Revenue is Printed!
• Live property balances for all charges and revenue, enabling better control of current period costs.
• Multiple level reporting with user-defined parameters in custom Hierarchical levels is available. Additionally, most levels can be changed whenever you desire; and they will still have the ability to all historical data.
• Ability to email reports to your field representatives to show all current or past charges to property. Additionally, you can email the Vendor list to your engineers for scheduling current insured listing.
• Property Cost Statement listing all billable expenses for any period, or by owner with the well status check and DOI Status check prior to JIB run.
• Ability to correct historical property entries to JIB for cleaner billings.
• The ability to create property reports and JIBs with multi-line wrap detail.
• Reports can be created for ”all“, by ”Lease“, by ”well“ and by any ”owner’s share“