What's New with Cost and Financial Accounting

ByAnushka Kumar

January 25, 2023

What's New with Cost and Financial Accounting

For more than two decades, oil and gas producers of all sizes have relied on My Quorum Accounting for oil and gas accounting software to manage their critical accounting activities and today, My Quorum accounts for more than 150,000 wells across the US. Our product teams continue to innovate and evolve the applications to improve performance, workflows, and functionality that drives ongoing value for our customers.  

What’s New 

Stay up-to-date with our latest My Quorum Accounting release, version 2022.04 now available. Here are 3 features you need to know for Cost and Financial Accounting:  

- Accounts Payable – Users can now void multiple checks at once, even if they were created in different check run batches, increasing speed and efficiency with fewer transactions.  

- Approval Workflows - AFEs and AP vouchers can now skip intermediate dollar limit approvers while still requiring final DOA approval. This allows for streamlined workflows when steps with various approval limits are satisfied by virtue of the item’s amount.   

- Improved Data Visibility – Cross-company inquiry has been added to more screens to reduce the number of separate requests needed and to provide a more comprehensive view of the data. GL096: Journal Entry Transaction Inquiry, AP056: Voucher Maintenance, and AP157: Vendor Pay History Inquiry now supports the option to search across multiple business units in a single query. 

What’s Next 

Stay tuned for our next release coming April 2023 when we introduce more innovation with customer feedback in mind, including a reimagined user interface for My Quorum Accounting.  

Learn more about My Quorum Accounting and its best-in-class functionality, purpose-built for oil and gas accounting teams to work faster with critical insight into your financial and production data.