Quorum on demand Accounting Template
ODA Lease Operating Statement
Lease Operating Statement Template
Connect to your Data Hub data with a customizable LOS template today
An accurate lease operating statement is one of the most crucial documents in running your oil and gas company. Accounting, landmen, engineers, pumpers and executives all need to have an accurate understanding of which wells are making money, and why. Quorum’s Data Hub allows for customized reporting, but that requires experience and time to build. Take advantage of Velocity Insight’s experience building customized LOS reports with a turnkey, shareable, customized solution that can be deployed in a few days.
Velocity Insight builds ready to use LOS reports with your data using Quorum’s Data Hub.
This lease operating statement created by Velocity Insight allows for drill down to information about each individual well and transaction. This is the actual report you will receive, there are no ongoing fees, and it can be customized to your unique needs.
Click through the report to try it out.
How does it work?
01.
EVALUATE YOUR EXISTING LEASE OPERATING STATEMENT PROCESS
If you’ve already built an LOS in ODA’s Report Writer and have your Data Hub access information, your ODA template is ready to deploy! If not, our experienced consultants can walk you through creating an LOS in On Demand Accounting to use as the basis for your new Power BI LOS report.
02.
Customize your LOS Report to fit your needs or Power BI Training On Demand
You have specific workflows or metrics that are important to your company, a canned report just won’t do. This fixed-price offering includes 20 consulting hours you can use to customize the example report above or train up your staff to customize it themselves, or both.
03.
Your accounting, operations, and production teams get the information they need.
This report, combined with Power BI licenses (typically $14/mo/user) will refresh itself overnight and can be shared securely across the organization. There are no recurring fees from Velocity Insight, and the report can be copied and modified as you wish.
Benefits of a Customized Lease Operating Statement
Ready to deploy in a few days for a simple one-time fee – not another subscription!
Ready to integrate with other systems like ARIES, Field Insights, and other software.
Easily filter/slice your data by pad, field, well, or whatever level works for your company.
VISUAL AND AUTOMATED
The Velocity Insight Lease Operating Statement dashboard template is built to be automatically updated based on your live Accounting data. No more wondering which spreadsheet is the correct one – just go to the one published in your secure Power BI workspace. Includes features like switching between Gross and Net, Service Date and Accounting Date, and drilling down to individual transaction details.
INCREASE ACCURACY, SAVE TIME
We work with your Chart of Accounts and LOS format in On Demand Accounting to create a report that works for you. No two E&P companies are the same, so we help you define the right categories and well groupings that will make sense to your team. We can help you integrate the other relevant systems like well data from ARIES/PHDWin, invoices from OpenInvoice or DynamicDocs, and production data from On Demand Production, Merrick, or a dozen others.
Get your accounting team back to accounting.
Use customized reports to deliver accurate data to the whole organization.
Skip the effort and get back to your accounting data – this LOS template is ready to deploy and customize to your needs. Save the effort of generating LOS reports for other teams by giving them access to our customizable on demand LOS.
About Velocity Insight
Velocity Insight is a full-stack, full-function data management and analytics consulting firm. We’re not a software company – we help you get the most out of the tools you already pay for.
We combine three things to enable durable data transformations with our clients: deep O&G expertise, state-of-the-art tools, and real-world experience. With hard-earned oil and gas industry knowledge and experience digging in and implementing better processes, we have the trophies (and scars) to successfully meet our clients where they are.
Pricing
Since our template has been customized specifically to work with Quorum’s Data Hub, we can provide this LOS template for a one-time fixed fee of $15,000. This includes up to 20 hours of consulting time that can be used to train your staff or customize the report or both. Simply click the link below to schedule a half hour consultation or swipe a credit card and we can get started! Additional training or customization is available on a Time and Materials basis.
Frequently Asked Questions
Q: How is this different from the other LOS template on Velocity Insight’s Website?
A: Our universal LOS template is designed to work on any accounting system’s data and requires weeks of custom development to integrate with clients’ systems. This version is specific to Quorum’s Data Hub and On Demand Accounting and can be deployed in a few days.
Q: Can I save a version of the report if I modify it?
A: Yes! The report is yours to use and modify. You can save a version just like you can save a version of an Excel file. You can always refer back to the original version of the file to start fresh.
Q: Do I pay a monthly fee to use the template?
A: No! Once you pay for the template it is yours to keep. You can use and modify it to view your data however you like, or reach out for coaching or customization from one of our preferred partners.
Q: When I build and modify a template am I the only one who can see it or can I share it with other people at the company?
A: Yes! You can share the .pbix file with other coworkers for free, or for $14/mo/user you can share the report online with coworkers and schedule automated refresh so your data is always up to date.
Q: Is this part of datahub? Is this part of my Quorum subscription?
A: No, this is a separate program called Power BI by Microsoft. Power BI reports connect to your Datahub instance and reads the data, allowing you to view your data in the way you want to see it.
Q: Is there an additional cost to enable this report in ODA or Datahub?
A: No! Datahub is included with your ODA subscription. This allows you to connect to Datahub and share data in your organization without those users even needing to have an ODA account.
Q: What if I need something custom, or substantially different from the template I see here?
A: This offering includes 20 hours of consulting time to customize your report with company-specific metrics or connect to other systems. Additional development can be done on a time and materials basis.
Q: What if I need training in the use of Power BI?
A: The 20 hours of consulting time we include with this template can be used to train your staff, and you can find out more about our training offerings on our website here.
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