ProCalc · Accounting
ProCalc Revenue Accounting
From allocated volumes to owner statements and the Crown invoice.
What Revenue Accounting does
Revenue Accounting turns the month’s allocated volumes into money. Division of interest records who owns each well, what burdens it and who gets paid. Value runs the month one well at a time: allocated volume, less royalty, split by interest, priced under the contract, less deductions. Distribute sends a statement to every owner and partner, checks the Crown invoice, and posts the journal to your ledger. It reads the same record as Production Accounting, so a number on an owner statement opens to the volume behind it.
Detailed walkthroughs
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Inside Revenue Accounting
Division of interest
A register of owners, burdens and payees for every well, effective-dated line by line. Synced from your land system, or maintained here. A gap shows up as an exception in Value or Distribute, before it becomes a wrong statement.
Value: the row is the result, the drawer is the arithmetic
One pass per well: allocated volume, less Crown, freehold and overriding royalty, split by interest, priced under the contract, less deductions. Open any row to see each line and where it came from. Report the batteries that are ready; the rest wait on their exceptions.
Distribute: statements, the Crown invoice and the journal
Once a battery is reported, every owner and partner gets a statement, the Crown invoice is checked against what was accrued, and the journal goes to Financial Accounting or your ledger. Send the ready ones together.
Exceptions hold only what they affect
A missing royalty program, interests that do not sum to 100 percent, or a Crown invoice outside tolerance holds the battery it affects and nothing else. Fix it at the source, estimate it with its basis, or accept it with a reason. The decision stays on the record.
Drift after reporting
A late volume or price change is measured against your materiality after the month is reported and raised as an adjustment, so nothing is lost between months.
Same record as the meters
Every value traces back through Production Accounting to the well test, the battery measurement and the meter it came from.
On its own, or end to end
Revenue Accounting reads the shared data lake, so it can improve this one process while everything else connects by API or file — or run as part of the whole chain. About the ProCalc platform.
What comes in
- Prorated and allocated volumes from Production Accounting
- Ownership and burdens from your land system
- Prices and contracts
- Crown royalty programs
What goes out
- Value by well and owner
- Owner and partner statements
- Crown invoice reconciliation
- Journal to Financial Accounting or your ledger
Rather have us do it?
Our team runs Revenue Accounting for customers every month. You send the raw data; we deliver the finished result, and you keep web access to everything behind it.
Also in ProCalc Accounting
- Production AccountingThe Canadian close in four steps: prorate batteries to wells, allocate plants to inlet streams, split each share by delivery point, submit to Petrinex.
- AllocatePlant volumes back to every inlet stream in Canada; daily allocation from tickets and well tests in the US.
- CommitmentsYour marketing and purchase contracts against the month’s actual production. Coming soon.
- Financial AccountingThe general ledger for an oil and gas company. Easy to set up, easy to use, and every invoice one click from the P&L.
What customers say
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