What's New with My Quorum Division Order and Revenue Accounting
From exploration to distribution, operators of all sizes have been tracking their financials in My Quorum Accounting for more than two decades. Today, My Quorum oil and gas accounting software accounts for more than 150,000 wells across the US and is relied on by thousands of energy accounting professionals. Our product teams continue to innovate and evolve the applications to improve performance, workflows, and functionality that drives ongoing value for our customers.
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 Division Order and Revenue Accounting:
- Improved Owner Search – With the inclusion of a notes feature on both Owners and DOIs tabs of the Owner Search screen, users can now quickly reference notes from other parts of the application. The Owners tab displays a read-only version of any note(s) applied to a business associate. The DOIs tab displays an editable version of any note(s) applied to a detailed ownership record on DOI Setup.
- Maintenance Improvements – The DOI maintenance wizard now includes an inquiry date, which reduces clicks and significantly improves usability. Additionally, this change combines maintenance options and record selection, which had previously spanned two separate wizard steps. Owners or funds, but never both, are shown for record selection based on whether a user has selected Transfer/Modify (owners) or Funds as their maintenance options; this interface simplification streamlines the user experience and reduces application response time. A count above the grid displays the number of selected records for additional verification.
- Marketing Exemption Improvements – Groups, rather than individual marketing exemptions, are exclusively applied to detailed ownership records. The division order and revenue processes lookup marketing exemption group (MEG) details as needed, reducing the amount of data in the system and improving its performance.
Watch below to see more new features from My Quorum Accounting release 2022.04 and a full demonstration by Product Manager Chris Rhodes.
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.