ACCOUNTING
Our team have extensive first-hand experience in setting-up, managing and running finance functions in the energy industry, both in the UK and internationally.
Working within the industry, interacting with other departments including procurement and operations has allowed us to gain an appreciation of their clients’ business needs and pressures. We provide a range of accounting services and solutions tailored for your organisation.
Our accounting services include:
PAYROLL & BOOKKEEPING
Payroll
Managing payroll processes requires special consideration as businesses and organisations expand and as legislation is updated. Outsourcing this process allows our clients to focus on their core business and minimise the risks of non-compliance. Our services include:
Registering as employers
Processing and managing monthly payroll
Real Time Information (RTI) filings
Auto-enrolment for pensions
Pension compliance
Managing benefits and allowances
Statutory reporting and forms including P11D, P45 and P60
Bookkeeping
Time is money. We manage your day-to-day bookkeeping to maintain fully supported accounting records with a clear and logical audit trail. We can either use your existing finance system or help you select a more appropriate system to meet your requirements. Our services include:
Electronic record keeping, eliminating the need for physical records
Joint Interest Billing (JIB)
Maintaining fixed asset registers
Foreign exchange accounting
Intercompany accounting and reconciliations
Monthly balance sheet reconciliations
Day-to-day accounting including Accounts Payable and Accounts Receivables management
Accruals, prepayments and manual journals
Invoice templates and billing
FINANCIAL REPORTING
Reporting requirements are constantly evolving. We understand the importance of keeping up to date with those requirements. We aim to work with you to provide the most relevant and useful information in order to optimise your decision-making process. Our services include:
US GAAP, IFRS and UK GAAP compliance
Month-end reporting and management accounts
Financial planning and analysis
Budgeting and forecasting
Statutory reporting
Annual reports and financial statements
Liaising with and preparing deliverables and information to external auditors and third-parties
Designing and tailoring your chart of accounts
Consolidated group accounting
Key Performance Indicators (KPIs) and energy industry specific reporting including production and lifting data and analytics
Energy industry specific accounting including accounting for decommissioning, impairment reviews, over/under lifting, depletion and accretion calculations and farm out/in accounting