OGSYS GL Processing is used to enter manual journal entries, generate and print financial or property reports, and enter AFE budgetary information. This module’s reporting menu provides detailed GL account reporting options plus customizable financial report templates exportable to Excel© and other applications.

The efficiency of using OGSYS over other programs is based on the flexibilities of user formatting in its reporting: real-time reporting capabilities instead of month-end only updating and comprehensive query options capable of addressing specific questions rather than random data. The entry tables support electronic uploading and recurring transactions offering ease of entry qualities that make the OGSYS reporting system a valuable all around application tool.

The key issue in GL processing is flexibility. Within any entry the user can affect records dealing with companies, owners, wells, AFEs, expense decks plus dollar and volume transactions, both for gross and net amounts. Another feature of significant value is the use of standard or recurring entries. By using this process a user can save time and increase accuracy for repetitive entries.

OGSYS AP processing is used to record and pay invoices, view a vendor's account activity on screen, and process 1099 forms at the end of the tax year. The efficiencies of AP processing are realized through time savings directly related to the method of entry used in its processing window. Many checks and balances exist to assist the user as data is being keyed into the primary entry screen. The program tests for duplicate invoices, correct line level billing, proper account and well coding as well as gross to net calculations. OGSYS supports electronic upload of A/P Excel© files.

At the time an invoice is posted to the accounts payable ledger, all general ledgers (including subsidiary companies), billing ledgers, and sub-ledgers are updated. This feature provides management with instantaneous financial reporting capabilities. AP processing functions around two activities: input and reporting. AP reporting to management, vendors, owners and many other outside agencies is critical to any application’s success as a support tool for daily operation. In this regard, the OGSYS AP function is a key strength to the overall application.

The primary function of OGSYS Joint Interest Billing (JIB) Processing is to print the JIB invoices. This program is also used to enter and post owner advance billing invoices, print a billing pre-list, change the billing status of owner or well items, and close the JIB month. The efficiencies of using this program come from the use of design features not found in other competing applications. The processing function for billing invoices can be done more than once a month thus improving cash flow. Also, many operations need to generate and track advance billings and prepayments; this program does. Another time saving process is the automation of recurring charges (i.e., overhead) by creating and processing standard journal entries on a timetable.

OGSYS Accounts Receivable Processing is used to generate and record miscellaneous, interest and gas invoices, post owner and client payments or adjustments on invoices, and inquire about the status of owner accounts. Data can be analyzed under multiple methods to offer the user information often produced by incorporating several different spreadsheet tasks. While most designs separate the owner tracking functions from the miscellaneous operation functions, OGSYS places all those features in one menu. This organization presents a clearer understanding of where transactions are processed.

OGSYS Revenue processing allows the user to record purchaser checks, inquire about the status of an owner's revenue, and print Revenue Summary Statements and Revenue Checks. When OGSYS posts purchaser checks to the revenue ledger, it also posts all entries to the general ledger, check prelists, and sub ledgers and subsidiary company ledgers.

The benefit of using OGSYS Revenue processing comes from its ability to customize purchaser check input screens, manage reporting such as the missing purchaser check report, print revenue detail on check stub or issue separate statements, automate payout statements by well or owner, and allow the netting of revenue to billings.

Significant time can be saved if certain functions in revenue processing are automated. The most important of these functions are customizing the input function, tracking missing check payment receipts and netting billings against revenues. OGSYS supports electronic revenue upload that eliminates manual entry.

OGSYS Land Management is used to automate the process of tracking the acquisition and development of oil and gas leases. With the OGSYS Lease Records Package, users can obtain timely and pertinent information about an individual lease, a group of leases or any organization of lease data specific to the question at hand. This land program generates lease payment checks, produces financial and lease reporting, provides historical records, and integrates with accounting.

Tracking lease data is a detailed function requiring a major commitment of time. Automation greatly reduces the manual effort required to input and research the information collected. In OGSYS the lease data is shared with the entire database thus allowing all users to work from the same records which prevents the need for duplicate entry.

OGSYS land handles three important functions required by Oil Operators. It tracks the detail status of the lease so that information relating to the lease is shared by all departments within a company. It integrates the payment cycles with accounting, which allows the automatic posting of information to the general ledger. It allows users to customize the data capture record and the report outputs.

OGSYS Fixed Asset processing is used to record information relating to the maintenance of assets, including depreciation and depletion calculations. Several asset books are available to accommodate book, tax, and state depreciation. Every asset is assigned a unique code either by the user or by a system default process. Options in the design include user defined depreciation schedules which may be created as needed for assets that do not use the standard depreciation schedules. It may be important to track an asset because of its association with a well, in which case, a location is designated. When this occurs, the 'Units of Production' method of depreciation can be used. A depletion function is provided allowing the tracking of sales and production history.

The efficiencies gained by using this program are that it calculates depreciation in flexible periods using standard conventions, supports up to four 'books' per company (IRS, AMT, STATE, INTERNAL), has full general ledger integration, provides for multiple depreciation methods supported (MACRS, S/L, DDB, etc.), and offers Units of Production methods for well related assets.

The OGSYS SQL Reporting program provides the user a method to export data from the OGSYS system to a relational SQL format. Benefits of the export will range from user to user; however, some of the common benefits include: Ad hoc queries, interfacing with other SQL based systems, publishing reports to the web, or changing reports to other formats such as a comma-delimited file.

The SQL Reporting program is an export tool that transforms your data into a relational form and exports it to Microsoft SQL Server©. This transformed database is not a simple copy; rather, it has been designed for maximum flexibility and ease of use. This allows your data to be accessed by any application that is capable of interfacing with Microsoft SQL Server© (7.0 or 2000). Shipped with SQL Reporting are examples of queries as well as some methods of publishing the results.

SQL Reporting provides access to the vast majority of OGSYS data. Native OGSYS data is stored in a proprietary transactional form to facilitate speed, storage and integrity concerns. Prior to this program, only OGSYS programs could access this data in a reasonable manner. Now, with OGSYS SQL Reporting, you can query your OGSYS data for specialized information that is not part of the current OGSYS report set. Simply put, this program reorganizes your data as opposed to making a simple copy.

SQL Reporting provides a common interface to other systems. The flexibility OGSYS SQL Reporting and the pervasiveness of SQL Server-compatible products make this possible. This program can even be scheduled to run at night in the background. This can replace the costly manual process of custom data extraction or the hand keying of Excel© files. Since the data is in a relational format on a popular SQL Server©, a variety of third-party products can be used to access your data including Crystal Reports©, Microsoft Access©, Microsoft Excel© or anything else that can interface with Microsoft SQL Server©.

OGSYS Production processing is used to track production, sales, and a wide variety of other dispositions on a monthly basis, back to the well's inception. The program tracks product movement, produces history information, generates state and federal reports that those agencies require in either printed or electronic form and interacts with revenue module for capturing sales data.

Production data capture is a time consuming activity. The goal of OGSYS Production Processing is to record the initial information once, and from that point forward, make all the collected data electronically available.

A variety of input options exists within the OGSYS design. Users can choose which pieces of information are important to their needs and the OGSYS entry menus can be customized to accept that data.

A key issue in collecting production data is to tie it back to sales data. OGSYS reporting is capable of looking at all data fields thus allowing the user to report on volume as well as dollar amounts when analyzing production numbers against sales numbers.

The OGSYS Inventory module maintains inventory balances from multiple companies and multiple locations including remote sites. Inventory valuation methods include Standard Cost, FIFO, LIFO and weighted average. Inventory movement is easily controlled through Receipts, Transfers, Issues, and Adjustments. Use Inventory Transaction Entry to process receipts against PO's, transfers out, transfers in, issues to wells, manual adjustments to inventory, and cycle counts.

This program is for international operations where in-country and domestic activity must be tracked and reported to meet the requirements set forth by local governments. It enables users to track payments and report activity in multiple currencies, not just dual currencies.

OGSYS automatically creates transactional gain or loss entries in the general ledger. Periodic translational gain and loss calculations are made to the general ledger reports. Currency conversion rates are date-driven and allow multiple rates per day per currency, such as a buy rate and a sell rate.

Partnership processing is used to track, allocate and report on the financial positions of all partners in a general partnership based on each partner’s ownership interest. The program allows partners to be identified as either general or limited partners. The program provides the following features:

• Functionally allocates to the general ledger accounts within partner groups (General & Limited)

• Prepares K1’s

• Tracks multiple partnerships for partner groups

• Maintains data by partnership and individual partner

OGSYS partnership is used to record contributions and distributions of partner capital, print partner checks, and K1 forms. As with other menus, the partnership entries are fully interfaced to the General Ledger of the partnership.