Online energy management software
 

 

Asset Management

The Excalibur Asset Management system is a comprehensive system for handling materials inventory, leasehold costs, material transfers, fixed assets depreciation, cost depletion and statutory percentage depletion. Capital items and other costs that are to be tracked by the system are assigned to an inventory ID (user-defined part number) and to a location (well, lease or cost center). These inventory IDs are categorized into inventory classifications that facilitate entering data, generating accounting transactions and grouping inventory IDs for reporting purposes.


Material transfers and leasehold cost allocations are among the many inventory control and accounting functions the system performs. The Asset Management system calculates and maintains book, tax, and alternative minimum tax (AMT) cost and depreciation/depletion schedules. Inventory is assigned to an asset for purposes of depreciation and depletion. Assets are the basis for accumulating depreciable and depletable costs in the system. The comprehensive DD&A methods and frequency conventions supported by the system are then applied on an asset basis to calculate depreciation, depletion and amortization. FAS 143 is supported by allowing you to identify accounts for which asset retirement obligation capitalized costs are recorded for book DD&A purposes only, with no effect on tax or AMT. Statutory depletion functions calculate allowable percentage depletion and carryovers. The Asset Management system is fully integrated with other Excalibur systems including Accounts Payable, Joint Interest Billing, Land Lease Records, Revenue, Production, General Ledger and Responsibility Reporting.


Inventory Setup and Additions Data Entry Features

  • User-defined inventory classes and IDs (part numbers)
  • Comprehensive inventory ID description which automatically appears in the text of generated JIB transactions. Examples include:
    • Inventory class (such as production casing)
    • Size (such as 5-1/2”)
    • Weight/wall (for example, 20#)
    • Grade (such as N-80)
    • End (for example, buttress)v
    • Process (for example, SMLS)
    • Unit of Measure “1” (such as feet)
    • Unit of Measure “2” (such as joints)
    • Serial number
    • Streamlined capability for entering inventory balance forward amounts

Inventory Accounting Controls and Features

  • Online, interactive validation of all data entered
  • Automatic generation of all accounting entries (based on user-defined control accounts) including:
    • JIB or asset booking
    • Warehouse inventory
    • Depreciation and depletion expense
    • Accumulated depreciation and depletion
    • Sales tax liability
    • Abandonment
    • Gain/loss on sale, casualty loss and disposal
  • You can specify serial numbers, with an option to verify from a fixed asset tag number master table during data entry

Material Transfer Features

  • Online display of location inventories on hand, including inventory ID, quantity and cost
  • COPAS condition codes A, B, C, D and E processing
  • B to B 65 percent transfers supported
  • Multiple costing methods (FIFO, LIFO and average cost) available for warehouse inventory
  • Comprehensive calculation of all appropriate to and from amounts creating resulting accounting transactions for:
    • Additions (property additions and warehouse or non-property additions)
    • Transfers (such as warehouse to property, property to warehouse, property to property, warehouse to warehouse, expense to capital asset and trade-ins)
    • Retirements (by sale, abandonment, disposal or casualty loss)
  • Automatic reversal capability for previously posted material transfers

Inventory Allocation and Mass Transaction Features

  • Automated allocation of leasehold costs from a single primary accounting lease (such as a prospect) to any number of land leases based on net acreage of the land leases
  • Automated allocation of seismic (G&G) costs from a single cost center to any number of land leases based on net acreage of the land leases
  • Automated complete abandonment of nonproducing leasehold and seismic (G&G) costs for specified leases
  • Automated complete reclassification of nonproducing leasehold costs to/from producing leasehold costs
  • Automated complete sale or abandonment of all assets associated with specified properties
  • Option to process abandonments separately for book, tax, and/or AMT basis in a current or future accounting period
  • Reclassify nonproducing leasehold costs from a prospect or lease to a lease or well

Depreciation and Depletion Accounting Controls and Features

  • User-defined assets which are the grouping point (by well, lease or cost center) for costs that share the same depreciation/depletion rules for book, tax and AMT purposes
  • User-defined asset classes which specify the combination of book, tax, and AMT depreciation/depletion methods, frequency conventions, salvage percentage, and asset lives that are applied to assets in the class
  • Automatic creation of a new asset when first addition is incurred
  • User-defined tax groups and/or book groups provide the capability to apply a different units of production (UOP) depletion rate for tax and AMT purposes than that applied for book purposes
  • Calculation methods available include straight-line, straight-line over the remaining life, units of production, declining balance (150 percent), double declining balance (200 percent), sum-of-the-years digits, Modified Accelerated Cost Recovery System (MACRS), and MACRS.C for passenger cars used for business purposes
  • Frequency conventions available for depreciation/depletion calculations (calculated monthly or calculated annually) including monthly, half-year, mid-month and mid-quarter
  • Calculates separate book, tax and AMT depreciation/depletion amounts
  • Run depreciation or depletion calculations in a forecast mode to review prior to posting
  • Supports election and calculation of first year bonus depreciation per IRS rules
  • All vintage cost layers maintained for an asset with auditable depreciation calculated for each cost layer
  • Automatic processing of oil and gas reserves and production (or sales) volumes for calculating unit of production depletion from the Excalibur production and revenue systems
  • Automatic allocation of depreciation expense from one property or cost center to any number of sub properties or cost centers
  • Year-end statutory depletion computes allowable percentage depletion considering all applicable limitations and percentage depletion carryovers from year to year

Reporting

  • Comprehensive inventory reports for parts on any location (wells, leases and cost centers) or in any warehouse
  • Detail inventory transaction, audit trail and reconciliation reports
  • Comprehensive depreciation and depletion schedules and management reports
  • Extensive analysis reports covering asset costs, accumulated depreciation/depletion, net value and gain/loss calculation components
  • Online depreciation inquiry (for book, tax and AMT) for both historical periods and future projections
  • Comprehensive statutory depletion reports which provide detailed calculation component audit support for allowable depletion deduction and percentage depletion carryover used/generated amounts
  • Extensive analysis reports covering asset costs, depreciation/depletion reserves, book value and gain/loss
  • Online depreciation inquiry (for book, tax and AMT) for both historical periods and future projections