Revenue Accounting

Account for produced volumes, product sales, and distribution of sales revenue

Benefits

Increase accuracy and simplify close cycles with sophisticated production revenue accounting

QRA-Improve Close Cycle

Improve the Close Cycle

Conduct more accurate, less complicated close cycles with an integrated, controlled, and auditable approach to full cycle operational accounting. Quorum Revenue Accounting helps increase workflow efficiency and reduces entry errors across allocation, withholding, payments, and joint interest billing (JIB) netting with automated revenue valuation and distribution.

QRA-Gain Flexibility Reporting

Gain Flexible Reporting

Gain versatility with flexible reporting options. Quorum Revenue Accounting enables you to schedule, distribute, and export standard reports for regulatory compliance, volume allocation, contractual allocation, revenue valuation and distribution, and more. In addition to built-in reports, Quorum also empowers non-technical users with easy-to-use tools for generating queries and ad-hoc reports.

QRA Increase Efficiency Integrated Energy ERP

Increase Efficiency with Integrated Energy ERP

Increase efficiency with integrated energy ERP. To meet your company’s specific business requirements and generate bottom-line results, Quorum offers flexibility that lets you integrate revenue accounting with Quorum solutions such as:

  • Production Operations
  • Core Financials
  • Cost Accounting

In addition, Quorum Revenue Accounting integrates with third-party ERP systems in order to eliminate duplicate data for division orders, wells, owners, and financial transactions.

Core Financials and Accounting Overview

See how Quorum can help you streamline back office operations with integrated core financials and cost accounting

Features

Automate operational accounting for produced volumes, product sales, and distribution of revenue with Quorum Revenue Accounting

Volume Allocation

Allocate monthly volumes to well completions and sales contracts for valuation and revenue processing

Valuation

Value monthly production volumes utilizing various types of data

Check Write

Process checks with backup withholding and JIB netting; journal entry management

Escheat Processing

Set up and maintain state and owner escheat rules; process preliminary and final escheat system data

Gas Balancing

Calculate entitled and actual sales volumes by producer, gas balancing agreement, and well completion

Prior Period Adjustments

Receive automatic notifications for PPA then create and track reversal and new journal entries

Acquisitions and Dispositions

Import and export A&D data with an option to automatically end-date relevant records

Tax and Regulatory Reporting

Benefit from standard regulatory royalty, tax, and volumetric reports as well as ad-hoc reporting


Resources

Product Overviews

July 11, 2016

Land Management

Read the Land Management Overview to see how your company can benefit from a single source for managing leases, contracts, fee properties, and more

Product Overviews

August 26, 2016

Division Order Management

Find out how to increase revenue disbursements efficiency and accuracy through division order automation and enterprise-wide transparency

Product Overviews

August 26, 2016

Authorization for Expenditure

See how Quorum can help mobilize AFE with user-friendly dashboards, easy-to-use tracking, and improved data accuracy


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