Joint ventures require more complicated calculations than traditional oil and gas accounting software handles.
When it’s time to distribute revenue to your Joint Venture partners you don’t want to spend days getting it out the door.
You have one main company you flow all investments through, but each “investor” is it’s own joint venture. You don’t want to process revenue one joint venture at a time or manually figure out each partner’s share with complicated formulas and spreadsheets.
Thankfully, you no longer have to.
Manage all aspects of your joint ventures
Easily set up each joint venture, partners, wells and division of interests, including date-sensitive DOI decks so you can manage even the most complicated joint venture agreement.
Import revenue and expenses you want allocated to your joint ventures
Stop manually entering production receipts and bills for each joint venture. Easily import all data straight into SherWare.
See exactly what processed with detailed closing summaries
See what revenue and expenses were processed when you close a run, as well as how many checks and direct deposits were created.
Say goodbye to manually calculating each partnership’s allocation
When you close a run on the main joint venture, it automatically creates a posting file for each individual joint venture, so all you have to do is check a box to divvy it out to partners.
Send detailed settlement statements to each partner
Report complex allocations to joint ventures and partners in a way that’s easy to understand.
Integrate with QuickBooks or our full accounting software
“With our joint venture accounting module you can track the revenue and expenses for each partner and joint venture agreement seamlessly with either our QuickBooks integration or full accounting system.
The exact solution you’ve been looking for
Here are customers who use this Joint Venture module to manage their joint venture accounting for oil and gas
SherWare has been creating software for the oil and gas industry for 25+ years and we’re the only oil and gas distribution software on the market that can integrate with QuickBooks for oil and gas or our own full accounting suite.
We’ve helped thousands of clients simplify the way they track distributions and joint ventures, with some clients managing more than 100 joint ventures at once on our software.