We've helped dozens of energy companies choose the right accounting software to help manage their general ledger and maintain compliance. How does it work?

Oil and Gas Accounting Software


Sort by:
 
Sort by:
 
Intacct logo
 
Intacct's Web-based accounting software is ideal for mid-sized oil and gas companies. With over 30,000 users, it supports financial reporting, billing and invoicing, forecasting, performance management and more.
Rating:            (135)
Rating:
        (135)
Price:
Advisor Recommendations:
58
Platforms:
Deployment:
Business Size:
S
M
L
Intacct's Web-based accounting software is ideal for mid-sized oil and gas companies. With over 30,000 users, it supports financial reporting, billing and invoicing, forecasting, performance management and more.
 
NetSuite logo
 
NetSuite partners with Hein & Associates, a systems integrator with 30-plus years of experience in oil & gas, to help firms get the most out of NetSuite. The system supports well listings, well payout reports and project tracking.
Rating:            (62)
Rating:
         (62)
Price:
Advisor Recommendations:
49
Platforms:
Deployment:
Business Size:
S
M
L
NetSuite partners with Hein & Associates, a systems integrator with 30-plus years of experience in oil & gas, to help firms get the most out of NetSuite. The system supports well listings, well payout reports and project tracking.
 
Sage Live logo
 
Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
Rating:            (2)
Rating:
        (2)
Price:
Advisor Recommendations:
49
Platforms:
Deployment:
Business Size:
S
M
L
Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
 
Multiview logo
 
Multiview Corporation has been providing accounting solutions to buyers in over 40 vertical markets, including oil, gas, and energy. It offers affordable, straightforward accounting to small and mid-sized companies.
Rating:            (5)
Rating:
       (5)
Price:
Advisor Recommendations:
46
Platforms:
Deployment:
Business Size:
S
M
L
Multiview Corporation has been providing accounting solutions to buyers in over 40 vertical markets, including oil, gas, and energy. It offers affordable, straightforward accounting to small and mid-sized companies.
 
SAP Anywhere logo
 
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
Rating:            (1)
Rating:
        (1)
Price:
Advisor Recommendations:
17
Platforms:
Deployment:
Business Size:
S
M
L
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More

Call us for a free FastStart Consultation: +27 87 550 3493


 
Deskera logo
 
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
Rating:            (7)
Rating:
       (7)
Price:
Advisor Recommendations:
16
Platforms:
Deployment:
Business Size:
S
M
L
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
 
Sage Fixed Assets logo
 
Sage Fixed Assets is an on-premise accounting solution designed to meet the unique needs of oil and gas industry professionals. The system is extremely secure and is appropriate for operations of any size.
Rating:            (17)
Rating:
        (17)
Price:
Advisor Recommendations:
9
Platforms:
Deployment:
Business Size:
S
M
L
Sage Fixed Assets is an on-premise accounting solution designed to meet the unique needs of oil and gas industry professionals. The system is extremely secure and is appropriate for operations of any size.
 
SAP ERP Core Finance logo
 
For organizations looking for a flexible solution for their accounting and financial management needs, SAP ERP Financials is a great place to start. Popular across various industries, it can easily be tailored to meet your needs.
Rating:            (72)
Rating:
        (72)
Price:
Advisor Recommendations:
8
Platforms:
Deployment:
Business Size:
S
M
L
For organizations looking for a flexible solution for their accounting and financial management needs, SAP ERP Financials is a great place to start. Popular across various industries, it can easily be tailored to meet your needs.
 
FinancialForce Financial Management logo
 
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
Rating:            (26)
Rating:
        (26)
Price:
Advisor Recommendations:
8
Platforms:
Deployment:
Business Size:
S
M
L
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
 
Sage 100 Standard and Advanced ERP (formerly Sage ERP MAS 90 and 200) logo
 
Sage 100 Standard and Advanced ERP software systems support remote access, so employees can tap into accounting and business functionality wherever they are. Ideal for organizations with 10 to 500 employees.
Rating:            (43)
Rating:
        (43)
Price:
Advisor Recommendations:
7
Platforms:
Deployment:
Business Size:
S
M
L
Sage 100 Standard and Advanced ERP software systems support remote access, so employees can tap into accounting and business functionality wherever they are. Ideal for organizations with 10 to 500 employees.

Call us for a free FastStart Consultation: +27 87 550 3493


 
Acumatica ERP logo
 
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
Rating:            (10)
Rating:
        (10)
Price:
Advisor Recommendations:
6
Platforms:
Deployment:
Business Size:
S
M
L
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
 
Microsoft Dynamics AX logo
 
Microsoft Dynamics AX is a flexible solution that serves any number of various industries - including oil and gas. It relies entirely on Microsoft’s .Net technology and can be hosted remotely, but more often installed on-premise
Rating:            (40)
Rating:
        (40)
Price:
Advisor Recommendations:
4
Platforms:
Deployment:
Business Size:
S
M
L
Microsoft Dynamics AX is a flexible solution that serves any number of various industries - including oil and gas. It relies entirely on Microsoft’s .Net technology and can be hosted remotely, but more often installed on-premise
 
Sage 300 ERP (formerly Sage ERP Accpac) logo
 
Great for small and mid-sized organizations, Sage 300 ERP is a scalable enterprise resource planning (ERP) software system. With applications like customer relationship and contact management it can be installed on site or hosted.
Rating:            (29)
Rating:
         (29)
Price:
Advisor Recommendations:
3
Platforms:
Deployment:
Business Size:
S
M
L
Great for small and mid-sized organizations, Sage 300 ERP is a scalable enterprise resource planning (ERP) software system. With applications like customer relationship and contact management it can be installed on site or hosted.
 
Activity HD logo
 
nQativ’s Activity HD is an accounting and payroll solution suitable for small to mid-size companies. It offers tools to sort, filter and present data, plus security features to satisfy data confidentiality requirements. Activity... Read More
Rating:            (25)
Rating:
       (25)
Price:
Advisor Recommendations:
3
Platforms:
Deployment:
Business Size:
S
M
L
nQativ’s Activity HD is an accounting and payroll solution suitable for small to mid-size companies. It offers tools to sort, filter and present data, plus security features to satisfy data confidentiality requirements. Activity... Read More
 
Xledger logo
 
Xledger is an automated and scalable cloud-based accounting/ERP solution for medium- to large sized companies and is designed to provide insight and analytics for decision-makers. The system is an out-of-box solution that is configurable... Read More
Rating:            (3)
Rating:
        (3)
Price:
Advisor Recommendations:
3
Platforms:
Deployment:
Business Size:
S
M
L
Xledger is an automated and scalable cloud-based accounting/ERP solution for medium- to large sized companies and is designed to provide insight and analytics for decision-makers. The system is an out-of-box solution that is configurable... Read More

Call us for a free FastStart Consultation: +27 87 550 3493


 
SAP Business One logo
 
For oil & gas companies looking to maintain revenue under tight regulations, SAP Business One is a good option. It has add-ons designed for the petroleum industry that measure liquid units and integrate with DTN, OPIS, and Platts.
Rating:            (43)
Rating:
        (43)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
For oil & gas companies looking to maintain revenue under tight regulations, SAP Business One is a good option. It has add-ons designed for the petroleum industry that measure liquid units and integrate with DTN, OPIS, and Platts.
 
Infor CloudSuite™ Financials & Supply Management logo
 
Infor Financials & Supply Management is a robust solution for oil & gas companies. This solution provides tools to manage joint ventures and AFEs. Used by more than 25,000 global customers, this is a widely trusted solution.
Rating:            (1)
Rating:
        (1)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
Infor Financials & Supply Management is a robust solution for oil & gas companies. This solution provides tools to manage joint ventures and AFEs. Used by more than 25,000 global customers, this is a widely trusted solution.
 
Fusebill logo
 
Fusebill provides businesses with cloud-based financial and accounting processes, including core accounting, billing and invoicing, financial reporting and more. The system is suitable for small businesses, as well as midsize companies... Read More
Rating:            (14)
Rating:
       (14)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
Fusebill provides businesses with cloud-based financial and accounting processes, including core accounting, billing and invoicing, financial reporting and more. The system is suitable for small businesses, as well as midsize companies... Read More
 
Exact Macola logo
 
Exact Macola includes over 20 modules to assist with manufacturing, distribution and accounting, including PLM, AP/AR, MRP, MES and more. Additional EDI and e-commerce functionality is available from Exact.
Rating:            (17)
Rating:
        (17)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
Exact Macola includes over 20 modules to assist with manufacturing, distribution and accounting, including PLM, AP/AR, MRP, MES and more. Additional EDI and e-commerce functionality is available from Exact.
 
Oracle JD Edwards logo
 
JD Edwards is the accounting component of Oracle's EnterpriseOne product line. This product offers core financial management functionality and also supports International Financial Reporting Standards, useful for Oil & Gas.
Rating:            (41)
Rating:
        (41)
Price:
Advisor Recommendations:
1
Platforms:
Deployment:
Business Size:
S
M
L
JD Edwards is the accounting component of Oracle's EnterpriseOne product line. This product offers core financial management functionality and also supports International Financial Reporting Standards, useful for Oil & Gas.

View More Products
 

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: July 25, 2017


Executives in the oil and gas industry are responsible for monitoring a wide variety of financial operations to ensure profitability in addition to overseeing different kinds of regulatory filings at the state and federal levels. Because of these demands, they need a user-friendly and effective accounting system that meets the field’s unique needs.

In this guide, we’ll break down the energy software tools available in today’s market to help business leaders make decisions and identify trends in the company’s finances. The technology we’ll discuss automates tedious tasks so staff can focus more of their efforts on delivering excellent services and products to customers.

Keep reading if you’re interested in finding out how the right software solution can help your energy company become more lean, productive and profitable.

Here's what we'll cover:

What Is Oil and Gas Accounting Software?
Common Features of Oil and Gas Accounting Software
Benefits of Oil and Gas Accounting Software
Evaluating Oil and Gas Accounting Software
Deployment Options

What Is Oil and Gas Accounting Software?

Oil and gas accounting software focuses on tracking energy projects and partnerships, including the acquisition and development of land leases for natural resources. It can also track the status of leases and share it throughout a company while automatically posting land payments to the general ledger.

Companies can also monitor the financial positions of each general or limited partner. Larger-scale companies might require additional features, such as multiple currency options.

Common Features of Oil and Gas Accounting Software

Energy accounting systems typically include standard features in addition to a number of industry-specific functions that buyers should be aware of. Here are some examples:

Core accounting Includes modules all businesses rely on to manage finances, including a general ledger, tracking accounts payable (A/P) and accounts receivable (A/R), bank reconciliation and fixed assets.
Land lease tracking Defines tracts of land nationwide and documents the ownership and lease terms from initial offer to signing. Manages lease obligations like rentals and renewals and provides automatic notifications for payments or lease expiration.
Documentation & compliance Helps manage lease documents and receipts. Also keeps you updated on legal issues to support development and delivery of relevant, accurate compliance reports.
Dispatch tracking Provides schedule and dispatch maintenance/repair workers information needed to optimize their routes by skill/location to improve efficiency and quality of service. Also includes the ability to estimate job costs and manage service contracts, inventory and purchasing through the dispatch management feature.
Energy procurement reporting Streamlines energy procurement decisions using detailed data from loadshapes and special energy reports to create well payout profitability reports.
Rate/tariff analysis Compares utility billed rates to alternative rate schedules, including those of competitors and other markets. May also include cost avoidance analysis to see potential solutions, as well as weather data to its impact on costs.
Well management Stores everything you need to know about a particular well, including its lifting and status codes.
Visual tools Generates line graphs, pie charts and and other visual representations of data entered in the system. These are usually presented in a dashboard interface.
Document imaging Stores scanned versions of invoices so they can be routed and approved.

Benefits of Oil and Gas Accounting Software

Here are some benefits that explain how energy accounting software can empower employees to optimize financial operations:

More efficient workflows. Employees are able to save time and effort by using an intuitive system that eliminates the need for duplicate data entry. In a recent survey of accounting software buyers, 36 percent cited a desire to automate business process as a major purchase driver.

Greater accuracy. A digital solution reduces the margin of human error when it comes to performing complex financial calculations or tracking fixed assets.

Faster decision making. With the dashboards and reporting functionalities we described above, executives can quickly drill down on the company’s finances. This enables them to come up with informed analyses on key performance metrics and make data-driven decisions to benefit the business.

These benefits to apply to every oil and gas company, regardless of its size or location. Solutions exist for startups, mid-size entities and global enterprises.

Evaluating Oil and Gas Accounting Software

Energy software packages can generate state and federal reports required by auditing government agencies such as the Department of Energy, Environmental Protection Agency or Department of Defense. Sorting profitability by site, activity, crew, geologist/engineer and customer is also a helpful tool in energy accounting systems. Software dispatch systems can help with scheduling and recording load pickups while providing information such as directions and gate combinations.

When evaluating these systems, buyers should consider the following:

  • Can it analyze the financial status of the company’s partners?
  • Can it track lease status and integrate it with accounting?
  • Do the features fit the size of the company, as in multiple currencies?
  • Can it generate the appropriate reporting documents for auditors?

It’s possible to start answering these questions before you contact any vendors. Simply check out the product profiles on this website to read real user reviews, get system overviews and watch demo videos for dozens of energy accounting systems.

Deployment Options

Energy accounting software can be implemented in one of two ways:

  • As a best-of-breed application
  • As part of an integrated solution that packages together accounting tools, in addition to other functionalities, such as oil and gas production reporting, gas balancing and/or human resources applications

Your ultimate selection will depend on your needs and budget. For example, integrated systems are often more robust and expensive than best-of-breed solutions, so they may not be ideal for smaller companies who only really need core accounting tools.

Pricing for oil and gas accounting software varies from vendor to vendor and it may be influenced by the number of modules a company needs or the amount of users that need to access the solution. Some software licenses require an upfront lump sum (also known as a perpetual license), while others use subscription-based pricing models.

Buyers must choose from cloud-based or on-premise solutions. Cloud software is typically hosted remotely on the vendor’s servers, so it’s especially appealing to smaller businesses with tighter budgets. On-premise systems are more traditional. These are hosted on-site, on the company’s own servers.

Free Download:
Accounting Software Pricing Guide

Free Download:
How to Assess Accounting Software Vendors' Viability

 

How it Works

We match organizations with software that meets their needs.

Our service is simple and 100% free to customers like you because software vendors pay us when we connect them with quality leads. You save time and get great advice. Vendors get great referrals. It's a win for everyone!

Call now for advice: +27 87 550 3493
Software Advice Advisors
×