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Fixed Assets

part of the OGSYS for Windows product line, by OGSYS

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This application is used to enter and maintain all of your assets and their related books. Each asset is assigned a unique code, specified by you or automatically gnereated within the system. Assets can be tracked in association with wells, which requires a location to be entered. When an asset has a location and relation to a well, the “units of production” method of depreceiation can be enabled. All well reserve history is automatically tracked using either a sales or a production history (able to be edited as needed). Depreciation can be done using one of the depreciation tables included, or you may create your own depreciation schedules as necessary. An overview of the features can be seen below:

  • Calculates depreciation in flexible periods using standard conventions
  • Supports up to four 'books' per company (IRS, AMT, STATE, INTERNAL)
  • Full general ledger integration
  • Multiple depreciation methods supported (MACRS, S/L, DDB, etc.)
  • Offers Units of Production methods for well related assets
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