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Adding WolfePak’s Joint Interest Billing and Revenue Disbursement modules to its powerful financial system creates a complete, fully integrated accounting system for the oil and gas operator. At the touch of a button, print Joint Interest Billing statements, disburse revenue, or produce “net” checks for selected owners. The system includes the ability to automatically pay invoices based on due date, and generate past-due notices to investors who have failed to send in their payments. Financial reporting capabilities include complete summary and detail reports, as well as detailed trend reports by lease. Other features include:

  • General Ledger entries can be created automatically for the personal books of any investor
  • Any entry can contain over 100 lines of description, allowing full explanations of any item
  • Restart the JIB process as many times as necessary
  • Print the detail of charges and review, making changes as needed prior to printing the owner’s invoices
  • Full restart capabilities on all reports
  • Print a year-to-date billing summary for any investor by lease and expense type
  • Invoice each owner for their share of an AFE cash call
  • Company’s share of expenses are automatically booked to the proper general ledger accounts
  • Copy a division of interest from one lease to another
  • Option to print combined revenue and JIB statement
  • Errors can be easily corrected and the billing reprinted as if the errors never occurred
  • Bills only the leases and/or items you are ready to bill
  • Recurring expenses (ex: overhead, pumper, etc) are booked automatically
  • Produce multiple billings in one month, without duplicate billing if necessary
  • Print the owner’s invoices in owner sequence
  • Print owner labels for any lease or range of leases
  • Enter AFE budgets and produce variance reports for each lease
  • Prepayments can be applied automatically against the actual billing
  • Unlimited number of owners per lease
  • JIB charges can be summarized on the statement by lease, type of expense, or prospect

Other Applications

The following applications are designed to work hand-in-hand with Joint Interest Billing (JIB):

"Joint Interest Billing (JIB)" is part of the Oil & Gas Accounting line of products, developed by WolfePak Software.

Related Products

The following software product lines are also offered by WolfePak Software: