#1 Reliable, Time-Tested, Automated Accounting Solutions for O&G

For deeper understanding and a tight grip on your financial performance

The General Ledger is the heart of the PakEnergy accounting system. Task-specific input screens permit natural data entry for functions such as A/P and Deposit Entry, without having to think about debits and credits. The PakEnergy system provides easy access to summarized and detailed data, using view screens and flexible reporting options:

• Real-time view of account balance trends grouped by account and/or cost center, with drill down features for more detail
• Print groups in multiple levels of summary and/or detail
• Unlimited number of user-defined reporting groups of cost centers
• User can design custom financial statements or use pre-defined standard reports

A seamless process to tie cash balances to your general ledger

Use the PakEnergy bank reconciliation module to reconcile your bank accounts on your general ledger, using your monthly bank statements. The PakEnergy reconciliation cycle:

• Start cycle
• Range — clear checks by range
• Tagging — Clear checks by tagging
• Reconcile bank statement
  The module includes multiple tools, listings and reports to help you find issues with deposit and checks.

Easy vendor invoice tracking, payments and expense billing

Accounts payable shares data with the general ledger, giving you an integrated program for tracking and paying vendors, as well as the appropriate billing of owners/investors with the integrated Joint Interest Billing module: Integration with core modules — including document imaging, general ledger, JIB and 1099s. Integrated bank reconciliation system for easy account balancing and sharing with A/P, revenue and payroll. Print checks on preprinted or blank check stock complete with MICR encoding. Write checks based on due date and/or vendor and/or selection of invoices

Management of outstanding balances, statements and customer accounts

The PakEnergy accounts receivable module makes managing deposits and outstanding balances faster and easier with automated data entry. This system lets you track purchases by customers, payments from customers, generate interest charges, past dues (aged trial balance), and various sorted lists. The system is integrated into the General Ledger, optimizing efficiency and eliminating duplicate entries. You can see who owes, the amount they owe, why they owe it and the due date. The A/R module lets you track this information by customer and print reports — statements, aged A/R trial balances, etc.) A/R integrates with the general ledger, to optimize user efficiency and eliminate duplicate entries.

Clear communications and detailed investor charges to support cash flow

Investor group constantly changing? You need a Joint Interest Billing module that accurately allocates costs to investors/owners for the generation of joint interest billings and related transactions. PakEnergy gives you the power to manage thousands of holdings at the individual level, with different percentages, exemptions and summaries:

• Print detailed charges for review, changing as need before printing owner invoices and finalizing billing
• Multiple AFE (Authorization for Expenditure) netting options
• Billing with one or more owners exempt from specific charge types
• Billings with different overhead rates for different owner groups

Fast, accurate entry of your cash receipts

The PakEnergy deposit entry module complements our accounts receivable module, but doesn’t require A/R. It’s designed to give you a simple way to enter checks into your system and print deposit slips for the bank with MICR toner (you don’t have to fill out manual deposits).

Using deposit entry lets you enter the deposit, print a deposit slip for the bank and update the General Ledger — all from one menu. Used with the scanning feature, this module also lets you scan in checks for reference during customer conversations about billing.

Fast, accurate entry and import of your revenue data

This unique PakEnergy application streamlines the entry and import of your revenue data, including support for multiple import capabilities:

• Electronic import of revenue information through spreadsheets or electronic data exchange (CDEX) via Oildex and/or PDS saves time
• Missing Payments reporting tracks purchaser or operator payments to ensure receipt of all checks
• Variance analysis report compares receipts property by property with prior month, prior year or any date range
• See totals and variances of BBL/MCF (volume), price per unit and net revenue

Handle your IRS reporting requirements by print or electronic file

The PakEnergy 1099 module handles all of your IRS reporting requirements for 1099s. It prints documents or creates electronic files and uploading the IRS (using pre-printed forms or blank paper eliminates the need to buy IRS forms). Processes supported include: 1099-MISC, INT, DIV, R, S, 1098-Mortgage Interest, 1042–Foreign Withholding, and DR21-W (Colorado Withholding) Data is extracted from check history to complete these forms (except 1099-R and 1099-S). PakEnergy updates your system files and formats to comply with IRS requirements. You also have the option to print an attached schedule, listing all payments made to individual recipients with check date, number and detail, which eliminates phone calls.

The detail and control you need to manage extensive holdings with changing ownership

If your company’s growing and managing extensive holdings with multiple owners, you’ll need a system that handles suspense information for each owner, easily enables royalty payments and allows real-time entries to the general ledger. The PakEnergy revenue distribution module gives you the detail and control you need with an audit trail for investor oversight.

• Maintains detail-level suspense information for each owner and real-time entries to GL with changes made to suspense (automated suspense detail to GL control account checking with every revenue run)
• Easily distribute oil and gas royalty payments and handle royalty deductions
• Cash flow and historical reporting
• 1099 detail reporting summarized by lease and state of each check for owner updates