Joint Interest Billing

With Petroware2000 you are not required to wait until month end to perform Joint Interest Billing. This program allocates each accounts payable, journal entry, and revenue transaction to the Division Order Files. By doing that it allows the JIB module to perform JIB at any point in the accounting cycle. With the JIB module you will get the following features:

• Date-sensitive DOIs used to insure correct DOI for expenses to be joint billed.
• The presence of the duplication/edit feature on DOIs allowing you to replicate DOIs.
• Allows you to define invoice detail by investor; or perform special billings by investor.
• Automatic application of investor payments; along with the automatic aging of investor accounts receivables on several basis (e.g., by invoice, balance forward, property, invoice open item, etc.)
• Automatically calculates late payment charges for multiple types and levels.
• You can attach messages to all billings, or more specifically by property or investor.
• You have the option to hold JIB by investor, property or by individual expense item.
• Item correction to assure there are no errors on Joint Interest Billings, can be done with the un-post feature.
• Security feature limits access to investor, DOI and other files.
• Automatic exempt interest calculation.