Streamline Revenue Accounting Using Contracts in IFS BOLO

In upstream oil and gas, revenue accounting is chock-full of complexities, but contracts – a unique and elegant solution that only IFS BOLO offers – eases the time-intensive process. 

This three-minute video shows you how IFS BOLO helps revenue accountants streamline their monthly workflow using contracts, which:

• Are set up at a measurement point or well level of detail
• Define how revenue is to be distributed to owners at a granular level so there is no need for separate DOIs
• Are effective dated meaning new contracts do not have to be set up over time

 

Watch this video and see what happens when a disbursement contract is not used vs. when a disbursement contract is used. You’ll be amazed at the result.