Chart of Accounts – Project Type
Did you know GL Accounts in Daily Field Reporting
can be designated by Project Type?
When configuring your master Chart of Accounts lists in Oilfield HUB, you have the option to identify what GL Accounts do and do not apply on a per project type basis. The GL Account designation by project type feature, is used to filter out the GL Accounts that don’t apply to specific projects; forcing users in the field to select from a smaller sub-set of project relevant GL Accounts when allocating their daily field costs in Oilfield HUB.
HUB Benefit
Customizing sub-sets of project relevant GL Accounts from your master Chart of Accounts lists, simplifies data entry by eliminating long picklists of unrelated GL Accounts that your users in the field would otherwise be subjected to when reporting their daily project costs. The adage, “less is more” stands to improve your daily field cost reporting accuracy across all projects, which in turn minimizes the extra head office overhead expenses that can accumulate while correcting avoidable reporting errors for Producers and EPCs.
