WolfePak Escheat/Unclaimed Property
Streamline tracking and distributing unclaimed property
The WolfePak escheat/unclaimed property module streamlines the task of tracking and distributing unclaimed property to your oil & gas owners, employees and vendors. This module takes revenue suspense, payroll check and accounts payable checks into consideration, prints due diligence letters, and creates electronic filings for all 50 U.S. states and territories (in compliance with all states’ individual rules and requirements, cut-off dates and abandonment periods).
If you’re using spreadsheets or paying a third-party service, the WolfePak escheat module will accelerate your process, use data already entered into your system, and walk you through the process step by step. We eliminate costly errors (and the time to correct them) — all you have to do is complete all bank reconciliations to start the unclaimed process:
- Based on all owner, employee and vendor last know addresses and states
- Unknown addresses automatically route to business state of incorporation
- List by due date with sequence of what needs to be done next
- Due diligence letters by date — prints due diligence letters on or before due date
- Electronic file listening for state (all 50 U.S. states and territories)
- Complies with all individual state/territory rules
- Complies with cut-off dates, abandonment periods, etc.
- Considers all “current pay” states with rules that apply to all subsequent payments due
- Automatically excludes owners already contacted and re-starts dormancy period
- Manual exclusion of owners, employees or vendors (if necessary)
Oil and gas software that scales for growth
The WolfePak software package for operators comes with core functionality to support rapid growth for upstream oil and gas companies. You can customize the operator package for your needs, with user-based pricing that lets you manage a startup with the same control and functionality larger operations use to manage thousands of wells.
Let WolfePak simplify the complexity of oil and gas accounting & operations by streamlining your process for JIB (joint interest billing), AFE (authorization for expenditures) and oil and gas revenue distribution.
Start with the functionality you need, then add modules as revenues grow and your accounting and reporting requirements become more complex.