AFEs are important controls for oil and gas accounting. OGsys allows for the accumulation of AFE activity in the general ledger, and

reporting of that activity at the AFE level.

Establishing an AFE Code

To establish an AFE within the OGsys database, first set up a 10 character code for tracking, by going to Process / Master Maintenance / GL and Report Maintenance / AFE Maintenance.  An AFE can be established for a well, operating group, and field.  If the production module is active it can also be established for a tank or battery.

In AFE Maintenance, users can input two dates, completion date and close date.  The completion date is the potential date for finishing the AFE.  Whenever a transaction entered with the AFE code has a transaction date later than the completion date, OGsys will issue a warning.  The system displays a warning only when you enter a later date.  Entering a date in the close date field closes the AFE.  Once an AFE is closed, no more items may be posted to this AFE.

Enter Actual AFE Expenditures

To code expenses to an AFE, enter the AFE code on the AP Invoice Entry screen or on the Manual Journal Entry screen.  The AFE field is available on these screens when you enter a well code.  Users can require an AFE code for select wells by checking the box in Well Maintenance to “Require AFE,” or GL accounts by checking the box in Chart of Accounts Maintenance to “Require AFE.”  After that, whenever a user enters that well or that account without entering an AFE code, the system displays a warning.  Users can then opt to continue without an AFE Code.

AFE Budgeting

AFE budgets may be input into the database for comparison to actual AFE activity.  The budgets may be entered manually by going to Process / General Ledger Processing / AFE Budget entry or you may upload them using the Import function under Process / Exceptional Processing / Import Data From ASCII.

AFE budgets are entered by account.  You may have budgets for both gross and net amounts for all three bases, cash, journal, and accrual.

An AFE import spreadsheet is available for download on the OGsys website.

AFE Reporting

Maintaining a balance on an AFE is not useful unless it may be carried through to reporting.  You may report on an AFE level on G/L reports 210, 212, 230, 240, 250, Excel GL 210 Detail/Summary, and Excel AFE Summary.  One of the most useful reports for comparison of budget and actual activity is the Excel AFE Summary report.  This report has a drill down feature for AFE detail.

Learn about more OGdash AFE Gadget features – Click Here!

Our FastTrack Reports are souped-up versions of some of our standard reports, except they’re bigger, stronger and faster!

Our unique development process ensures that these reports will definitely meet your need for speed.  Our first step is to create a new FastTrack version of an existing report.  We then release the report to our client test drivers for review. The valuable feedback from our testers is then incorporated into the report.  The result…the most flexible reporting in the industry!

Customizable Features and Benefits Include:

• Report parameters and results are displayed in one window,
• Reports can now include your company logo,
• A wide range of colors and fonts are now available, and
• Reports can be formatted for portrait or landscape viewing and printing.

To enable FastTrack Reporting contact us at Support@ogsys.com, or click below for more FastTrack Reporting Details:

• Accounts Receivable Summary Statement
• GL 210
• Revenue Summary Statement
• Accounts Receivable Balance Forward Statement
• Purchase Order and Terms Maintenance
• Logo Maintenance

At OGsys, we are committed to verifying that OGsql works on the newest versions of Windows 7 and Windows 8 to provide the best possible support for our clients.  

OGsql has been tested in multiple server environments currently supported by Microsoft and in numerous configurations.

OGsql has been field tested and offers an increased performance when running in a Server 2012 and Windows 8 environment.

At OGsys, we continue to test OGsql in multiple environments to verify there are no issues as Microsoft updates Windows 7 and 8 including the server environments used by our clients.

Although we are not able to account for every possible environment or requirements for every client.

Microsoft has added compatibility mode to the operating system that allows us to ensure OGsql will work in every environment.

If you should experience issues using Microsoft Windows the options below may further assist in OGsql running at peak performance. Read the Rest of this Story »

Use this process to refund credit A/R balances to owners by issuing a revenue check.  Revenues created and paid from an A/R credit are not reported on a 1099 to the owner.

1. The A/R credit must be associated with a well code.
   1. If it is not, create an A/R Adjustment voucher to write off the credit balance (a positive adjustment) to a clearing account.
   2. Create another A/R Adjustment voucher to re-enter the credit to the original owner (negative adjustment) using the same clearing account, specifying a well code, and using the Invoice Selection of “create invoice” (or “new”).
2. Option 103 must be enabled in Supervisor-Site File Utility (called Parameter Maintenance in OGsql 1.76+)
   1. To verify – look in Owner Maintenance on the Specific tab.  If there is a checkbox “Gen Rev from AR Credits” the option is enabled.
   2. If not enabled, go to Help-About OGsql and click on Email support@ogsys.com.  This will open an email with attachments.  In the Subject put “Turn on option 103” and send.  You will be emailed a file with installation instructions.
3. In Owner Maintenance:
   1. Check the box “Gen Rev from AR Credits”
   2. Change the Net-Rev-vs-Exps to “W-Well”

1. The owner and well must not be suspended.
2. Run the Cross Clear A/R & Revenue for the owner.

We are looking forward to seeing everyone at our User Group Meetings in May!  These meetings are a great way to interact with other OGsys clients and to learn about all of the new and exciting things that are going on at OGsys.

Please make plans to join us at one of the following meetings:

Check fraud is still a prevalent crime that can negatively impact your organization’s bottom line. In order to stay one step ahead of the criminals, you must first understand the issue of check fraud. Read the Rest of this Story »

We are excited to announce our User Group Meeting schedule for the Spring.  These meetings are a great way to interact with other OGsys clients and to learn about all of the new and exciting things that are going on at OGsys.

Please make plans to join us at one of the following meetings:

As Microsoft software comes to the end of their support, OGsys will no longer be able to support software that no longer has vendor support.

Windows XP and Office 2003 are coming to the end of their support cycle, so we are asking that you update your software in order to receive continuing support.

Please review the following from Microsoft’s website: Read the Rest of this Story »

All of the normal month-end reports should be retained.  Rather than printing out the reports suggested below, you can print the reports to HOLD and archive the reports in a separate directory on your hard drive (not in the Print Queue or Output Manager).  These reports can then be retrieved in Word or Excel programs for viewing or printing.

GENERAL LEDGER

Detail G/L Report (report 210) for the entire fiscal year.

ACCOUNTS PAYABLE

Accounts Payable Detail Listing (report 340-02) for the entire year for all vendors, all A/P invoice types (paid and unpaid), filtering on Transaction Dates and Payment Dates from the beginning of the calendar year through the end of the calendar year.

ACCOUNTS RECEIVABLE

Aged Accounts Receivable Listing (report 640) including recently paid invoices, for last 6 months of the year (maximum # of columns available).  This report should be produced and retained monthly so you may not need an additional copy.

RECONCILIATIONS OF SUBLEDGERS TO THE G/L

Especially if you are audited annually, you will also need the following reports to show the detail of outstanding balances at year-end:  JIB Prelist, A/P Check Prelist, Revenue Check Prelist, and A/R Detail Aging.  The reconciliation of these subledger reports to the General Ledger is a current reconciliation that cannot be replicated at a later date.