DD&A

The Petroware2000 Depreciation, Depletion and Amortization Module (DD&A) allows you to set up leased assets and reserves for depletion calculation. Additionally you can calculate depreciation and amortization on your fixed assets. This module gives you the ability to:

• Calculate depletion using either the cost or percentage method.
• Use percentage method depletion which utilizes the “daily production” and “taxable income” limitations.
• Calculate tax depreciation based on all methods and conventions listed in IRS Publication 534.
• Reviews annual asset purchases and automatically select the correct tax depreciation convention.
• Create multiple reserves and economic cases.
• Calculate depreciation, depletion and amortization for Book, Federal, AMT, ACE and E&P.
• Setup equivalent unit control for gas/oil.
• Track excess depletion.
• Calculate depletion at the state level.
• Automatically or manually create asset records for all types assets through the Accounts Payable invoice entry system.
• Forecast economics for lease/wells.