Asset & Tax Management
Operational excellence can be achieved only when you precisely know the location and state of every asset, from every tool in the warehouse, to the equipment at the well site, to the furniture and fixtures your field team calls “the office.” Fully integrated with accounts payable and general ledger, BOLO 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.
Potentially The Most Valuable Asset To Your Company.
Automating asset tracking throughout the well life-cycle, BOLO not only eliminates time-consuming manual recording, but controls data access and eliminates asset base and DD&A miscalculations often occurring using complex, complicated spreadsheets.
Depreciation & Depletion
The capital you invest into assets is a major part of overall operational expenses. Maximizing return on that investment includes taking advantage of depreciations and carryovers. BOLO Accounting streamlines initial materials inventory, classification, leasehold costs, material transfers, fixed assets depreciation, cost depletion, and statutory percentage depletion.
Integrate material transfer workflow with parts inventories, DD&A, and JIB. BOLO Asset and Tax Management shifts your processes from an environment of reactive guesswork to proactive, knowledgeable asset transfer between any number of companies.
You work in one of the most highly regulated industries in the U.S. Having tax and GAAP books integrated and available for audit helps ensure that you are in full compliance and gives your team the confidence to rest assured that when audits are made, outcomes will be positive.