Oil and Gas Invoicing Software

We will cover three main things

• Billing Partners
• Tracking Expenses
• Vendor Support

Billing and Payments

JIBS are one of the biggest headaches in Oil and Gas. You have to track the total expenses coming in, break those apart by well (division of interest & expense decks), create the JIBs, and then track when and if payment has been made on those.

The general lifecycle of a JIB is as follows

Getting paid from partners

Once you send invoices out to partners you need to make sure you get paid. Joltly will do 3 things for business when it comes to payments

• Increase the speed at which you receive payments from partners by 90%
• Providing clear visibility into which invoices have been paid and which remain outstanding
• Saving you 15 hours a month by automating the generation of partner invoices

Tracking Expenses

Oil and gas companies need a quick and easy way to see how much they are spending on each vendor. The expenses that are most important to oil and gas companies are expenses by

• Week
• Month
• Well
• Lease

Graphical representations provide key insights into day to day operations 

Vendor Support

We gather ACH and Check information from each vendor to make paying them easier. You can then choose to pay the vendor via Check or ACH payment right from Joltly. No need to get out your checkbook. We will also notify vendors via email once payment has been sent.

• Pay Vendors Via Check or ACH
• Notify Vendors of Payment via email
  

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Example of the notification that you will be sent once payment has gone through. Vendors also receive their own remittance email.

Conclusion

No matter what Oil and Gas invoicing software you pick, make sure it meets your day to day needs as an operator. The most important things to consider are billing partners, tracking expenses, and vendor support.

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