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Joint Venture Accounting

Joint Venture Accounting

Inoapps Limited Hall: Hall 5 Stand: ORACLE POD 13

The application works hand in hand with Oracle ERP Cloud, to deliver the key functionality needed to track the financial operations of Joint Ventures, including management of Equity Groups, Authorisation for Expenditure (AFE) approvals, allocation of Equity carry, Joint Venture Billing, Cutbacks and Revenue Share; giving all joint venture partners visibility, control, governance and audit capabilities.​

Inoapps has leveraged 12+years’ experience in the upstream Energy sector to build the application and provides real-time insight into the actual costs and revenue of Joint Ventures.

Benefits

  • More accurate distribution of costs and revenue amongst partners
  • Efficient and streamlined Joint Interest Billing
  • Adapts to your business as you grow
  • Reduces errors through automation
  • Enables better, faster decision-making
  • Shortens budget approval process 
  • Improves efficiency and time spent solving disputes and queries

Key Features

  • Complete functionality to track the financial operations of Joint Ventures, giving all joint venture partners visibility, control, governance and audit capabilities
  • Powerful equity share and DOI management framework to allow the detailed and accurate tracking of partner allocations across agreements over time
  • Enables AFE Approvals, Equity Carry, Cutback, Cash Call, Billing and period adjustments across expenditure and revenue-based models
  • Provides single view of costs, revenue and allocations, based on DOI, combined with a comprehensive audit trail
  • Partner Portal gives fast access to information and reporting by partner, equity share group, project and project task
  • Users define partner share and automate cost allocations based on rules defined for each JV project
  • Streamlined workflow and automapping of fields and codes between all partner systems​ speed up cost recovery 
  • JV billing statements and invoices are generated by the system, following automated user-defined approval processes before release
  • Powerful equity share and DOI management framework to allow the detailed and accurate tracking of partner allocations across agreements over time
  • Provides single view of costs, revenue and allocations, based on DOI, combined with a comprehensive audit trail
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