Upstream Accounting Overview
Upstream Accounting Overview by W Energy offers a comprehensive, integrated platform that streamlines financial operations—including revenue accounting, accounts payable, joint venture accounting, and division orders—by accelerating workflows, enabling easy validation and correction of results, ensuring compliance with a global chart of accounts, providing faster and more accurate financial calculations, visualizing division order parties, simplifying acquisitions through configurable uploads, and optimizing data management with intelligent cost allocation for enhanced decision-making and operational efficiency.
Streamline Your Financial Operations
One integrated platform means managing with unparalleled efficiency and accuracy: Revenue Accounting, Accounts Payable, Joint Venture Accounting, Division Orders, and more.
Streamline Your Financial Workflow
Accelerate accounting processes, validate results with ease, and achieve hassle-free compliance.
Faster, Easier Insights
Get a clear view of your financial health and complete complex accounting tasks in minutes. With W Energy, you can tailor your reports, adjust financial statements effortlessly as things change, and handle all of it in-house.
Validate Results Before Posting. Reduce PPA’s.
Trim next month’s PPA headaches with rerunnable monthly processes. Quickly validate your accounting and correct any mistakes with easy-to-review result sets and clear insights into those results.
Better Compliance. Less Worry.
Ensure every financial transaction is accounted for and reported accurately, preventing errors in the GL for timely, precise results—without after-the-fact fixes. Eliminate the need to juggle separate charts of accounts for each company with a global chart of accounts, reducing duplicate setup hassles.
Faster, More Accurate Calculations
Make better decisions with unmatched insights into your financial standing.
Unify Operations
Seamlessly integrate AP, AR, DO, JIB, AFE, Revenue, Financials, Assets, Contracts, and more into a single solution.
Visualize Chain of Title
Effortlessly map Division Order parties with Visual Chain of Title.
Make Revenue Calculations Transparent
Gain clarity in revenue calculations with proprietary CalcTrace functionality.
Simplify Acquisitions
Streamline data integration with user-configurable uploads.
Optimize Data Management
Use Global Business Associates and Chart of Accounts to reduce duplicate entries and maintenance efforts.
Gain Intelligent Cost Allocation
Take advantage of an intelligent, multi-tiered engine for precise AFE and Inter-Company cost control.
Embedded Reporting
Easy access to built-in core reports to keep your business running smoothly.
Enjoy Seamless Production Integration
Directly import field production volumes into accounting with integrated production solutions.
Realize Real-Time JIB Reconciliation
Achieve cleaner JIB runs with real-time reconciliation inquiries and easily rerunnable processes.
DataView™ Analytics Overview
Powering success through better reporting.
- W Energy offers a global setup of master data—like Business Associates, Wells, and Chart of Accounts—so they can easily be set up and managed in one place.
- With Calc Trace functionality, quickly gain insight into complex revenue calculations, including clicking through to the formula or variable used to understand what happened.
- Data can be exported directly from the application. Additionally, a copy of your data can be provided for reporting purposes or integrated into existing data warehouse initiatives.
- Supported state taxes and royalties include: Arkansas State Tax, Colorado Conversation Tax, State Royalty and State Tax, Kansas State Tax, Louisiana State Tax, North Dakota State Royalty and State Tax, New Mexico State Royalty and State Tax, Oklahoma State Tax, Southern Ute Tax, Texas GLO Royalty, State Tax and UT Royalty, Utah State Tax, West Virginia State Tax, Wyoming State Tax.
- Multiple ways to allocate costs back to the well are available, with support for as many tiers as necessary for your business.
Ready for the Future?
Join hundreds of satisfied customers. Experience the power of streamlined operations and unrivaled financial management.
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