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Property Accountants (Asset Tracking) (Setup and Maintenance (provides…
Property Accountants
(Asset Tracking)
Setup and Maintenance
(provides cost basis [aka book value])
System Codes
Master files
DDA methods
(Or just Depreciation)
Asset Tracking account profiles
Reclassification Matrices
Office, Yard, and Warehouse
(cost centers)
Property, Plant, Equipment
Oil and gas assets
Equipment at well site
Acquisition costs
Leasehold costs
Classic fixed assets
Furniture/fixtures
Vehicles
IT equipment
(Software, computers, tablets, etc.)
Building/Property
Inventory
(everything in the yard/WH)
Material Transfers
Generate billable transactions for JIB processing
Catalogs
(parts and equipment in inventory)
Reserves
(by depletion hierarchy)
(provides ability to calculate depletion percentages)
Oil, gas, plant
Area
Field
Well
Depletion method
(OG assets)
Full cost
Calculate DDA
Record accounting transactions
Successful efforts
Calculate DDA
Record accounting transactions
Depreciation
(Fixed assets)
Calculate for PPE
Record accounting transactions
Analysis
Asset valuation
Impairments
(Write-offs/write-downs)