Hydrocarbon Accounting / Financial /My Quorum Accounting

My Quorum Accounting

Overcome the most complex challenges experienced by US producers using fully-integrated enterprise software. Continuously improving workflows and interfaces sit atop two decades of business logic and system controls.

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Purpose-Built Energy Accounting Software

Work faster with critical insight into your financial and production data. Eliminate information silos, lower your IT overhead, and reduce workforce transition costs with software that is designed for the entire energy value chain. 

$500M+

Over $500 Million of Owner Checks are Issued Monthly

150k

Wells Across the U.S. are Accounted
for Using My Quorum 

85%

Faster Approvals for AFEs and Invoices,
in Seconds Not Minutes 

Features

Revenue Accounting

Automatically calculate and distribute volumes, values, taxes, and adjustments from sales meters to individual royalties. Generate reports for regulatory agencies, financial institutions, and owners.

Division Order

Store and maintain titled interest with no inflated decks and no lockout periods. Streamline your processes with our proven platform and modern, web-based user interface. Improve data integrity and visibility with My Quorum Division Order.

Cost Accounting

Reduce repetitive tasks and streamline your commonly used processes with additional user efficiencies and improved querying in multiple locations.

Authorization for Expenditure

Prepare cost estimates, approve AFEs, and monitor budgets from any device.

Fixed Assets

Manage inventory as well as calculate depreciation and depletion for your company assets.

Joint Interest Billing

Monitor shared expenses over the course of a project and compile automated billing statements for partners.

Financial Accounting

Integrate G/L, AP and AR with other accounting functions for a powerful combined single-source accounting solution.

Reporting and Compliance

Generate severance tax and royalty reports for numerous state and federal regulatory agencies, with system controls to manage the effects of updates to revenue and well data.

Dynamic Docs

Accelerate productivity and efficiency with intelligent classification and search capabilities for all your documents.

Production Operations Integration

Seamlessly interface wells, meters, allocation networks, and volumes using Production Operations APIs.

Calculate and Control Project Costs From Any Device

Track your financials from end to end with a fully-integrated oil and gas accounting ERP suite that provides maximum data oversight and web-based access.

Benefits

Track Dollars from Exploration to Distribution 

Every dollar counts. Our software helps you predict and report project and company profitability. Control spending by setting budget limits and monitoring spend. Manage your assets and inventory and maximize your bottom line from any device. 

Work Faster Without Sacrificing Quality or Compliance 

Modernize your accounting operations. My Quorum Accounting automates key pieces of your close processes such as check processing, rebills, valuation and distribution, workflows, and more. Reduce input errors and increases compliance to gain confidence in the quality of your data. 

Maximize Your Partnerships


Engage in profitable joint ventures and partnerships. My Quorum Accounting functionality, including JIB, helps you drill into JV activity, ensuring that you properly billed and received payment for shared costs.

Pull Reports When and How You Want Them

Create and present financial reports in any format. Use ad hoc, custom, or standard reports to view the status of your operations, prepare monthly or annual reports, anticipate future production activity, and more.

Use One Vendor for All Your Accounting Operations

From leasehold costs through owner payments, account for your E&P activities using My Quorum Accounting – a single vendor and platform specifically built for oil and gas. Partner balloting and billing, gas balancing and more feed journal entries to a single accountable system of record.

Leverage Integrated Data Across All Departments

Learn how we can improve your business practices through integrated data and processes between Accounting and Land solutions allowing one time data setup that is shared across the applications. Our experts dive into details about eliminating redundant accounting transactions using monthly accounting functions in land and accounting.