NetSuite
Joint interest billing (JIB) in Oracle NetSuite can be complex to manage without the right structure in place. This demo showcases how Rand Group’s Joint Interest Billing application helps streamline the setup and management of owners, allocation decks, and wells, ensuring revenue and expense allocations are accurately distributed across stakeholders.
You’ll also see how transactions such as vendor bills and journal entries automatically inherit allocation details based on the selected well, reducing manual data entry and minimizing errors. From configuring allocation percentages for expenses and revenue to processing final joint interest billings, the demo highlights how NetSuite can generate the appropriate AR or AP invoices for each owner.
In this video you’ll learn:
How to configure owners, allocation decks, and wells to support joint interest billing in NetSuite
How vendor bills and journal entries automatically generate JIB allocations
How to process joint interest billing transactions and generate invoices for owners
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