Joint Venture Accounting Software

Comprehensive cost allocation, transparent recovery

EnergyFlow Joint Venture (JV) Accounting and Cutback Automation

Accurate cost allocation calculations in complex JV environments

Joint venture accounting within the Upstream Oil & Gas sector often overwhelms the existing core finance function. By deploying our sector-specific application, your accounting system is supported by integrated data. By streamlining approval and billing workflows, stakeholders can be assured that figures are accurate and recovery is efficient.

EnergyFlow Joint Venture (JV) Accounting and Cutback Automation is a fully configurable system which can be moulded to your individual business needs.

Simplicity for complex Joint Venture environments

Users define partner share and automate cost allocations based on rules defined for each JV project.

Automated processes then control adjustments and keep allocations accurate throughout the cutback process.

We also enable users to set the cap-out value, the carry amount, still enabling ownership and equity changes.

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Powerful reporting capabilities

The system’s easy-to-use web-based reporting capabilities provide a full audit trail of all transactions allowing users to track every detail in real time.

This in turn enables fast and accurate reporting to partners and generation of JV billing statements following approval.

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Rapid cost recovery

Streamlined workflows save time and speed up cost recovery.

JV billing statements and invoices are generated by the system, following automated user-defined approval processes before release.

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Key features and benefits

Maintenance of venture data including equity share

Seamless integration with Infor SunSystems ledger

Full transaction history & audit trail

Automated JIB production & billing

Optional workflow approval of equity changes and cutback journal postings

Automated calculation of cutback, review & journal posting

Online real-time reports & enquiries

What our clients say...

"Hurricane Energy goes live with EnergyFlow Joint Venture Accounting from TouchstoneEnergy."

Hurricane Energy is an E&P focused on UKCS fractured basement exploration and development. The organisation is a new generation of oil company that exists to discover, appraise and develop oil from fractured basement reservoirs.

Hurricane Energy goes live with EnergyFlow Joint Venture Accounting from TouchstoneEnergy.

Group Financial ControllerHurricane Energy (Upstream)