NetSuite
Joint Interest Billing
Automate Joint Interest Billing and ownership allocations in NetSuite
Rand Group’s Joint Interest Billing (JIB) app extends Oracle NetSuite with purpose-built tools for oil and gas companies that manage joint ventures. Manage wells, properties, owners, allocation decks, shared costs, revenues, billing statements, and JIB history in one connected system to improve accuracy, reduce manual work, and provide clear financial reporting.
Starting from
$599
Per month
Additional per-user tiered pricing is required. Implementation and configuration services are priced separately.
Supported Editions
Oracle NetSuite
Supported Countries
USA & Canada
Supported language
English
Implementation
Onboarding assistance
User training
Ongoing support
About
Manage complex joint ventures
Manage wells, properties, owners, allocation decks, and ownership structures within one NetSuite environment. Connect owners to multiple decks and wells, maintain clear ownership records, and update relationships as joint venture agreements change.
Automate cost and revenue allocations
Apply defined ownership percentages to shared expenses and revenues so each stakeholder receives the correct allocation. Standardized processes reduce repetitive data entry and support more consistent Joint Interest Billing across wells, properties, and partners.
Improve transparency and control
Maintain a detailed history of JIB transactions, supporting data, billing records, and well-level financial activity. Finance teams can reconcile transactions, answer partner questions, support audits, and review past billing cycles without searching across separate systems and spreadsheets.
Features
Features
Rand Group’s Joint Interest Billing app adds industry-specific accounting capabilities directly to NetSuite. It helps oil and gas companies manage ownership, automate allocations, process JIB activity, and report on joint venture finances from one system.
Well and property management
- Maintain well and property records
- Connect financial activity to individual assets
- Review financial performance by well or property
Ownership and allocation management
- Maintain centralized owner records
- Assign owners to multiple allocation decks
- Connect allocation decks to multiple wells
- Apply ownership percentages consistently
- Update ownership structures as agreements change
Joint Interest Billing processing
- Allocate shared expenses and revenues
- Generate partner billing statements
- Automate recurring billing activity
- Process JIB transactions within NetSuite
- Reconcile transactions efficiently
JIB history and reporting
- Maintain a complete billing history
- Review individual expenses and allocations
- Support audits and partner inquiries
- Report across wells, properties, owners, and entities
- Access well-level and partner-level financial information
Screenshots
Screenshots
Technical and support information
Technical and support information
Supported NetSuite editions
Joint Interest Billing supports Oracle NetSuite and NetSuite OneWorld environments.
Supported countries
The app is available for organizations operating in the United States and Canada.
Supported language
The app and its supporting materials are available in English.
Ongoing application support
Rand Group provides onboarding, configuration, training, troubleshooting, upgrades, and ongoing NetSuite consulting to help your team maintain and improve the solution.
Contact information
Contact Rand Group at [email protected] for pricing, demonstrations, trial access, implementation assistance, or application support.
”
“We needed a way to automate the input of JIBs and oil and gas revenue. Rand Group built the JIB and revenue check import processes in NetSuite, and the team did a great job giving us a more efficient way to manage that activity.”
– Joel Hughes, Database Administrator, Henry Resources LLC
Case Study
How Henry Resources streamlined Joint Interest Billing and oil and gas accounting
Henry Resources relied on multiple legacy systems and manual processes to manage oil and gas investments, JIBs, revenue activity, and well-level reporting. We helped the firm implement NetSuite and Rand Group’s custom Joint Interest Billing solution to standardize JIB and revenue imports, support gross and net well-level reporting, and bring oil and gas financial data into one connected platform. As a result, Henry Resources reduced manual work, improved reporting and controls, and gained clearer visibility into its oil and gas activity.
Connect Joint Interest Billing to AI-powered insight in NetSuite
Rand Group’s Joint Interest Billing solution is built directly inside NetSuite, so users can take advantage of NetSuite reporting, native AI capabilities, and Model Context Protocol connectivity without separating JIB data from the ERP. With the right configuration, authorized users can connect approved AI assistants to JIB records and other NetSuite data to ask questions, review activity, and find answers with fewer exports and spreadsheets.
- Ask questions about wells, owners, joint venture costs, revenue, and JIB activity
- Summarize financial and operational data in plain language
- Review trends, exceptions, records, reports, and custom queries
- Access JIB data through approved AI assistants such as ChatGPT or Claude
- Apply NetSuite roles and permissions to connected AI experiences
- Extend the same approach to other oil and gas solutions built inside NetSuite
Simplify Joint Interest Billing in NetSuite
Manage wells, owners, allocation decks, billing, and JIB history in one connected NetSuite environment. Talk with Rand Group about your requirements, trial access, pricing, and implementation options.
Why purchase an app from Rand Group?
Deep oil and gas expertise
Rand Group brings more than two decades of experience working with oil and gas companies. Our NetSuite architects, developers, and consultants understand wells, joint ventures, ownership structures, financial reporting, and other industry-specific requirements.
Designed for real-world operations
Our Joint Interest Billing app is built around practical oil and gas processes, including allocation decks, changing ownership, shared expenses, partner billing, JIB history, and well-level reporting.
Built directly inside NetSuite
Joint Interest Billing works within NetSuite rather than as a disconnected system. Users can work with familiar records, permissions, workflows, reports, and financial data while maintaining one source of truth.
Long-term partnership and support
Rand Group has completed more than 3,000 successful engagements and maintains a 90% client retention rate. Our team supports implementation, training, upgrades, reporting, custom development, and ongoing NetSuite optimization as your needs evolve.
Frequently asked questions (FAQs)
What is Joint Interest Billing in NetSuite?
Joint Interest Billing in NetSuite is the process of allocating and reporting shared joint venture expenses and revenues within the NetSuite ERP platform. Rand Group’s custom app adds tools for managing wells, owners, allocation decks, billing statements, transaction history, and JIB reporting.
Does NetSuite include Joint Interest Billing by default?
No, standard NetSuite does not include a complete Joint Interest Billing module designed for oil and gas joint ventures. Rand Group’s custom JIB app extends NetSuite with the ownership, allocation, billing, and reporting capabilities oil and gas companies need.
Who should use Rand Group’s JIB app for NetSuite?
Rand Group’s JIB app is designed for oil and gas companies, family offices, investment groups, and other organizations that manage joint venture interests. It is especially useful for teams that need to track multiple wells, owners, allocation rules, shared expenses, and revenues.
Can the app manage multiple wells, owners, and allocation decks?
Yes, the app can manage multiple wells, properties, owners, and allocation decks. Owners can be connected to multiple decks, and decks can be connected to multiple wells to support complex joint venture structures.
How does the app allocate expenses and revenues?
The app allocates expenses and revenues according to ownership percentages and predefined allocation rules. These rules help ensure each partner receives the correct share of joint venture financial activity.
Can ownership percentages change over time?
Yes, ownership records and allocation decks can be updated as agreements and interests change. Updated records help ensure future JIB processing reflects current ownership information while prior transactions remain available for review.
Does the app maintain historical JIB records?
Yes, the app maintains a history of JIB transactions, expenses, allocations, and billing activity. This history helps teams answer partner questions, complete reconciliations, review past billing cycles, and support audits.
Can the app generate partner billing statements?
Yes, the app can generate Joint Interest Billing statements for joint venture partners. Statements can present allocated expenses and other relevant financial details based on your configured billing process.
How is the JIB app implemented?
Rand Group implements the app within your NetSuite environment and aligns it with your wells, properties, owners, decks, allocation rules, billing processes, and reporting requirements. The process can include discovery, sandbox configuration, data preparation, testing, training, and go-live support.
Can JIB data be accessed through AI or an MCP server?
Yes, JIB data may be accessed through approved AI tools or a NetSuite MCP server when the required connection is configured. Access remains subject to your NetSuite roles, permissions, security controls, and implementation design.