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Data Conversions: 3 Things to Consider Before Taking the Plunge

Data Conversions: 3 Things to Consider Before Taking the Plunge

The journey from old to new oil and gas software can be an arduous one. On top of the complications that can arise during the data conversion process, many companies come to realize post-conversion that their new software may not be as good of a fit as they believed. But data conversions are costly, time-consuming projects; you really want to get these right the first time.

With over 25 years of experience migrating client data, we’ll be there to help you make the decision that’s best for your business, whether your data comes from industry-standard applications, QuickBooks, legacy software, or any other unsupported systems. Our scoping process is thorough, and we’ll recommend the application we think is the best for you after some conversation about your needs. But before you decide to pull the trigger on a data conversion, here are three important questions your company should consider.

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How Outsourcing your 1099 Reporting can Lead to a Stress-Free Holiday Season

How Outsourcing your 1099 Reporting can Lead to a Stress-Free Holiday Season

Nothing is scarier during Halloween season than knowing your 1099 filing deadlines are creeping closer. We know how much of an enormous headache the 1099 filing process is— that’s why it’s one of our most-requested services we offer to our clients. But there’s no need to stress this year: here is how outsourcing your 1099 processing can help you relax this season.

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FORM-1099 Deadlines for 2023

FORM-1099 Deadlines for 2023

It’s time to begin thinking about 1099’s again, and our gurus at PetroLedger Financial Services have made it easy for you by compiling all the resources you need. The most significant change this year is the reviving of the 1099-NEC for any non-employee contractors....

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Understanding Division Orders for Mineral Interest Owners and Operators

Understanding Division Orders for Mineral Interest Owners and Operators

An inaccurate division order can spell a lot of trouble for all parties involved. Mispayments are not always detected expeditiously, and they can often create practical and legal challenges if they are not resolved quickly. However, the unfortunate reality for operators is that, without thorough oversight, inaccuracies are inevitable, especially when you factor in varying division order laws from state to state. These mispayments are usually caused by simple human error: miscalculations, typos, system errors, ownership analysis errors, and so on.

read more

All Consulting Posts

Data Conversions: 3 Things to Consider Before Taking the Plunge

Data Conversions: 3 Things to Consider Before Taking the Plunge

The journey from old to new oil and gas software can be an arduous one. On top of the complications that can arise during the data conversion process, many companies come to realize post-conversion that their new software may not be as good of a fit as they believed. But data conversions are costly, time-consuming projects; you really want to get these right the first time.

With over 25 years of experience migrating client data, we’ll be there to help you make the decision that’s best for your business, whether your data comes from industry-standard applications, QuickBooks, legacy software, or any other unsupported systems. Our scoping process is thorough, and we’ll recommend the application we think is the best for you after some conversation about your needs. But before you decide to pull the trigger on a data conversion, here are three important questions your company should consider.

How Outsourcing your 1099 Reporting can Lead to a Stress-Free Holiday Season

How Outsourcing your 1099 Reporting can Lead to a Stress-Free Holiday Season

Nothing is scarier during Halloween season than knowing your 1099 filing deadlines are creeping closer. We know how much of an enormous headache the 1099 filing process is— that’s why it’s one of our most-requested services we offer to our clients. But there’s no need to stress this year: here is how outsourcing your 1099 processing can help you relax this season.

FORM-1099 Deadlines for 2023

FORM-1099 Deadlines for 2023

It’s time to begin thinking about 1099’s again, and our gurus at PetroLedger Financial Services have made it easy for you by compiling all the resources you need. The most significant change this year is the reviving of the 1099-NEC for any non-employee contractors....

Understanding Division Orders for Mineral Interest Owners and Operators

Understanding Division Orders for Mineral Interest Owners and Operators

An inaccurate division order can spell a lot of trouble for all parties involved. Mispayments are not always detected expeditiously, and they can often create practical and legal challenges if they are not resolved quickly. However, the unfortunate reality for operators is that, without thorough oversight, inaccuracies are inevitable, especially when you factor in varying division order laws from state to state. These mispayments are usually caused by simple human error: miscalculations, typos, system errors, ownership analysis errors, and so on.

How much of your Accounting should you Outsource?

How much of your Accounting should you Outsource?

So, you’re interested in outsourcing your accounting.

You’ve identified a few warning signs that your business might need assistance, and, intrigued by all the benefits of outsourced accounting you’ve been hearing about, you’re almost ready to take the next step and find the right outsourcing provider.

PetroLedger: Setting our Clients up for Success

PetroLedger: Setting our Clients up for Success

Our vision at PetroLedger is to be the partner of choice within the oil and gas industry for outsourced accounting and transaction services by employing the best-in-class people and processes across multiple technology platforms. Our most experienced and versatile staff resides in our Client Success Department— if you ask any of our professionals, they will say it’s very rewarding to see the before and after version of their books. Our team is a set of superheroes that transform and correct your data to better serve your organization.

5 Signs for E&Ps to Start Outsourcing their Accounting

5 Signs for E&Ps to Start Outsourcing their Accounting

If you read our Outsourced Accounting FAQs blog, you might have an idea of the optimal times for a business to start outsourcing, but how do you know if you need to outsource in the first place? In this blog, we’ve gone over some of the biggest red flags that small and mid-size E&Ps should be wary about in their accounting operations. If your business is suffering from one or more of the issues described below, now is the time to consider outsourcing your accounting functions.

Outsourced Accounting FAQs

Outsourced Accounting FAQs

Unsure if outsourcing is right for you? You're not alone! We've put together some commonly asked questions about our services so you can outsource with confidence. Why would I need outsourced accounting? Aside from the cost-effective nature of outsourced accounting,...

Why Transparency in Accounting?

Why Transparency in Accounting?

Despite how far the field has advanced into the digital sphere, the Oil and Gas industry is still overrun with legacy software notorious for a lack of transparency. In addition, many companies are still using manual processes such as physical spreadsheets to manage...