Configurable and scalable accounting, land and operations software for U.S. oil and gas companies
Budgeting and Forecasting
Timely information
With the increase in investment in oil and gas, tracking budget to actual expenditures is a way to manage your capital and operational costs. Managers and engineers are held accountable to their management for budget variances. Knowing this, they require a system that allows them to record the data efficiently, and one that helps them manage their business with accurate, timely budget-to-actual reports. BOLO has the answer.
Define projects and assign budgeted costs
BOLO Capital Budgeting allows you to define projects or AFE’s and to assign budgeted costs to specific accounting periods and sub accounts.
BOLO Operational Budgeting stores and manages budgets and forecasts for administrative cost centers. Complete variance reporting is available.
BOLO enables you to:
Record the Business
- Import budgets into the system
- Streamline AFE setup by using templates for specific AFE types
- Generate AFE accruals automatically based on the difference between invoiced and committed costs
- Hard-close AFEs to eliminate future bookings
Manage the Business
- Manage budget variances
- Maintain gross and net AFE budgets in the system
- Tighten controls on AP invoice entry using AFE profiles
- Automatically reclass entries for work-in-progress based on parameters you establish