Joint Interest Billing

WolfePak gives you the power to manage thousands of holdings at the individual level, with different percentages, exemptions and summaries.

WolfePak Joint Interest Billing

Clear communications and detailed investor charges to support cash flow

Investor group constantly changing? You need a Joint Interest Billing module that accurately allocates costs to investors/owners for the generation of joint interest billings and related transactions.

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WolfePak gives you the power to manage thousands of holdings at the individual level, with different percentages, exemptions and summaries:

Print detailed charges for review, changing as need before printing owner invoices and finalizing billing
Run revenue and billings separate or together with multiple netting options
Multiple AFE (Authorization for Expenditure) netting options
Billing with one or more owners exempt from specific charge types
Billings with different overhead rates for different owner groups
Bill only the leases and/or items you’re ready to bill
Bill partial interest on non-operated properties
Print JIB statements and/or email them automatically on a per-owner basis
Statement summaries JIB charges by lease, expense type or prospect on a per-owner basis
Operator share of expenses booked automatically to proper GL accounts
Automatic addition of overhead and/or pumper charges to billings, using multiple criteria
Easy correction of coding errors on already-billed entries — wrong property, deck, AFE or account for any date range or other selection criteria (you can undo before you bill out if you find your corrections are wrong)
Print year-to-date billing summaries for investors by lease and expense type

Copy division of interest from one lease to another
Mass functions — copy, change, and delete, mass copy DOI, mass change ownerships, mass change suspense codes, mass delete
Produce multiple billings in one month without duplicate billing
Unlimited leases (assign up to 10-character alphanumeric code for billing properties)
Unlimited owners per lease
Unlimited number of date-sensitive decks for each lease
Payout reporting for participating or non-consent owners

AFE (Authorization for Expenditure

Enter AFE budgets and produce comparison reports for each lease
AFE payout reporting
Invoice each owner for their share of an AFE cash call and payment status report
Multiple AFEs available for different stages and projects
Set default AFEs for similar projects
Create AFE templates for similar projects
Import AFEs from excel spreadsheets
Apply prepayments automatically against actual billing