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Learn More About Paragon Accounting Pricing and Packages.
Accounting for Oil and Gas Operators
Small to medium size oil and gas operator s have specialized accounting needs which Paragon Accounting and Business Services are uniquely equipped to handle. Listed below are services services we provide:
- Revenue (checkstub) data entry
- Reconcile/balance revenue received, taxes and other expenses for distribution
- Accurate allocation of well expenses, timely bill payment
- Royalty, working and override interest owner distribution (volume printing, stuffing and mailing with ACH capabilities)
- Severance tax calculation and payment
- Setup and maintain well division of interest
- Suspense maintenance, re-distribution and check void/reissues as needed
- Owner relations services as requested
- Setup and maintain AFE’s
- Financial and production reporting (monthly, quarterly, annually)
- Annual production reporting to state
These are the basics, we’re happy to customize to meet the needs of our clients, you select the right level of involvement and control for your company.
We’ve been working with QuickBooks since 1995. Monica Rankin is an Advanced Certified ProAdvisor and has worked with many small to medium sized businesses to utilize this very versatile software in very specific ways. Whether your needs involve inventory, job costing, accurate financial statements, finding better ways to capture job/project costs in billing your customers, we can help. We’ve assisted service businesses to retail to non-profit to oil and gas. QuickBooks can be customized in many ways and we can ensure that you’re using it in the most streamlined, effective way.
Monica has taught QuickBooks seminars to groups but finds individual training to be very effective for many businesses. The training is tailored for your specific needs so time isn’t wasted listening to topics not utilized by your company. Whether you have one employee or several who need training we can assist.
Many businesses are faced with the need to upgrade from their current accounting software to something more up to date. We can help with assessing your company’s needs and the selection of your software. With the many cloud and desktop options out there the decision is daunting without an experienced professional. After the decision is made we can set up a conversion implementation plan that works with your unique needs and deadlines.
Accounting System Setup
If your business is new or you’ve been tracking your finances manually we’d love to consult with you in setting up your accounting software. Having professional guidance in the setup can save many hours of frustration as well as money. It can be costly to have your CPA prepare a tax return from inaccurate financial statements, not to mention the cost to have your records “cleaned up” down the road.
Services include accounts receivable, accounts payable, collections, cash management, bank reconciliation and monthly financial statements. Let us partner with you to free up your time to concentrate on the profitability of your business – your success is our goal.
We can assist in setting up your payroll for the first time or convert you from any other system. We provide accurate, on-time payroll and payroll tax services.