Configurable and scalable accounting, land and production software for U.S. oil and gas companies
 

 

Asset & Tax Management

BOLO offers a better way

E&P companies that continue to track and calculate DD&A (Depletion, Depreciation and Amortization) using complex, complicated spreadsheets risk miscalculating DD&A and misrepresenting the asset base of the company. Additionally, spreadsheets compromise internal controls.

A valuable asset to your company

The BOLO Asset Tracking Module manages your fixed assets, both oil & gas properties, and furniture and fixtures. Fully integrated with accounts payable and general ledger, it tracks materials inventory, allocates and classifies leasehold costs, calculates and books GAAP (Generally Accepted Accounting Principals) and tax DD&A and processes integrated material transfers. What's more, having tax and GAAP books integrated and available for audit helps ensure that you are in full compliance.

BOLO enables you to:

Record the Business

• Define and manage the parts you track in warehouse inventory and on the property
• Integrate material transfer workflow with parts inventories, DD&A and JIB

Manage the Business

• Automate GAAP and TAX DD&A calculations for both full cost and successful efforts accounting and have the system book the accounting entries
• Manage leasehold costs, including write-offs, allocations and reclassifications between producing and non-producing properties using simple tools