Invoicing for Oilfield Service or Equipment Rental
- Enhanced pricing to match customer MSAs
- Manage the entire ticket-to-invoice process
- Upload to customer portals
Oilfield service invoicing needs can be complex:
It is common everyday practice for our clients to be invoicing a customer for equipment rental, services, transportation, consumable inventory, and expenses all on the same invoice. Even charging for damage done to a piece of equipment rented & returned last week, and all the while we need to track & verify the customer’s credit limit and make sure they are up to date with payments before committing substantial resources.
Often pricing is different, not only determined by customer, but by job, or by location. Rental rates may include a flat fee for a minimum number of days and a separate charge for each day beyond. Sometimes equipment is rented by the hour, day, month, run-time or other meter readings, and when standby charges may apply when not in use.
Field tickets, run tickets, and bills of lading may need to be attached with the invoice to complete an “invoice package” to send to the customer. And many operators require their oilfield service suppliers to translate the suppliers’ codes to the operator’s code and upload the invoice and tickets to Open Invoice or other customer invoice portals.
Solving ALL these challenges is nearly impossible for most systems, but not for ofsERP.
ofsERP Invoicing & Accounts Receivable adds features to Microsoft Dynamics NAV specifically for the oilfield service industry and allows you to:
- Maintain Customer specific contract pricing for consumables, equipment rental, services, and packages.
- Quickly create an estimate or bid for all of the above and quickly and convert these to an active job or order.
- Create field tickets from jobs or workorders.
- Create standalone field tickets and transfer the relevant information into invoices.
- Upload invoices and associated field tickets to billing portals.
- Handle the varied field ticket-to-invoice relationships: one to one, many to one, summarizations, etc.
- Accurately track receivables and status of field ticket approval.
- Properly handle related field tickets when processing credit notes.
- Calculate sales taxes and the amount to remit on a cash basis.
- Operate as one fully integrated ERP system maintaining accounting controls throughout.
- … and more.