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OGsys 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.

Other Applications

The following applications are designed to work hand-in-hand with Fixed Assets Processing:

"Fixed Assets Processing" is part of the Oil and Gas Information Systems, OGsys line of products, developed by OGsys.

Related Products

The following software product lines are also offered by OGsys: