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Our proposition is simple: You run your business. We’ll handle your oil & gas finances and bookkeeping.
IHOAGA provides a complete bookkeeping, accounting, and finance solution for oil & gas operators, investors, and royalty owners alike.
In short, we’re talkin’ (1) cost reduction through less employees, (2) streamlined ops by leveraging our ‘bot-keepers’ (where AI meets bookkeeper 🤓), and (3) blockbuster margins through data-driven decision-making presented to you via a dead-simple software interface.
What more could you ask for?! 😄
Robots don’t sleep. Our robots — that is, our software — help you maximize returns while minimizing your time suck. Our oil & gas bookkeepers (ranked top 3% in the world) combined with our software can typically turn around your books 6x faster when compared to companies sourcing bookkeepers or outsourced accounting companies to pull the cranks.
Time is money. And by letting IHOAGA do the accounting — which unlocks and highlights the opportunities to double down or cut the fat in each element of your operations — we’ll unglue you from the time-suck that’s your oil & gas accounting drudgery.
No more delays. No more excuses. No more “end of the month crunch”.
Just perfect books and mind-blowing insights into your ops delivered straight to your phone. All without you (or anyone else on your team) lifting a finger. ☝️🚫
Our secret recipe? Homemade automation. We’re constantly looking for those magic ingredients that can help streamline your accounting. Here’s how it works:
Scan or forward your invoices, check stubs, and the like to IHOGA’s bookkeeping department
We organize and enter all your bookkeeping and accounting
Login to your ILOAGA Dashboard to review every element of your company’s performance and profitability and get your socks blown off 🌬🧦
| Legacy Software | Outsourced Accounting | |
|---|---|---|---|
| Contract Length |
No contract. Cancel anytime |
Minimum 1-3 year contract ☠️ | Negotiable |
| Set-up fees | None |
$2-250K (depending on size and complexity) 💸 | Negotiable |
| Training fees | None | $2-100K (depending on size and complexity) 💸 | None |
| Training required to reach fluency of Core functionality | 20 minutes | 40 hours minimum (will require months or even years to reach complete system fluency...) 🤦🏻♂️ | N/A |
| Help desk |
24/7 helpline, 8-5 in app chat. Free. | Yes (paid either by the hour or annual rate) 💸 | N/A |
| Response time forAccounting-based queries and reports | On-demand, available to anyone on the team, from their mobile device 📲 | On-demand (but only for those who've trained on software...) 😬 | Could take hours or even days (imagine trying to answer a simple inquiry for a vendor 🤦🏻♂️) |
| Financial & Analytical-based dashboards and insights | On-demand, available to anyone on the team, from their mobile device 📲 | Ana-what? 🤷️ | Dashboard-what? 🤷️ |
| Mobile first platform (access from smartphone) |
|
| |
| Elimination of Key-Man risk |
| Depends on size and number of redundancies of service provider 🤔 | |
| Cloud-based solution | Some of them 🤷️ |
| |
| Shrinkabiliity | Simply send more work – our bots are hungry! 🤖 | How fast can you find/hire/train talent? 🙄 | Depends on size and number of redundancies at service provider 🤔 |
| Scaleabilty | Simply send less work. | Must consider inevitable boom/bust nature of industry as well as time required to train only to let someone go 😓 | Simply send less work. |
| Amount of hands-on management required | Robots don't quit, retire, or complain 😉 | High-touch management w/ high visibility into ops | Low-touch management w/ low visibility into ops |
| Error prone | Our bot-keepers guarantee a 99.8% rate and are backed by our Financial Experts review all entries | To which month will you assign a deferred revenue item? How will you categorize this one-off expense? 😫 | Your bookkeeper will still make mistakes from time to time 🚩 |
| Accessibility to Expertise | Our Financial Concierges rank in the top 3% of oil and gas accounting experts and available to talk with you 🤓 | Depends | Depends |
| Get Started |
Track your entire business top-to-bottom.
Send daily, weekly or monthly reports to anyone in the company or outside investors.
Forecast & track your most crucial metrics.
Compare oil and gas prices to understand how they affect your business.
Adjust and tweak key indicators to understand how they affect your profitability (then execute!)
IHOAGA centralizes the metrics from all your oil and gas operations, right into your pocket.
Our finance and accounting experts are focused on helping you reach your goals. Get a dedicated IHOAGA finance team with expertise in all things oil and gas.
We offer comprehensive finance support from strategy to operations. Make decisions with a clear picture of your financial health—where it is today and where it needs to go.
Can you hire enough bookkeeping and admin talent to keep up with your growth? Hell, why would you even want to?
We match our engagement and level of support to your business needs. Whether you’re just starting out or scaling quickly, our resources scale with you at every stage of your journey whether it’s one asset or one hundred thousand.
Uncover opportunities and specific criteria—from Operator Analysis to Well Profitability, Vendor Comparisons, JIB expense variance tracking and more — that increase cash flow, operating margins and profitability.
Chart your company’s course with accurate production forecasts and real-time financials. We customize this for you block-by-block, from revenue to net income.
Establish the financial infrastructure and hygiene that’s poised for maximum operational efficiency and impresses investors (even your wife!), from AFE capital calls to working interest owner JIB payments outstanding.
Our expert bookkeepers (top 3%) are supported by the most comprehensive oil & gas accounting software in the industry, ensuring books with unmatched accuracy. Plus, get oil & gas financial reports specifically tuned to operators and investors, with metrics that matter.
We know oil & gas–we’re investors. Our bookkeeping, finance, and software services are built for self-funded independents, private equity backed corporations, and everything in between. From profitability to future cash flow models, you’ll get the financial support you need. Your monthly statements also come with your burn rate–so you (and your investors) know the numbers that matter.
Your reporting is only as good as your underlying data. Get modern bookkeeping, powered by technology. We sync with your bank and check our work twice. Our software auto–categorizes and identifies errors, and your personal finance expert reviews and tailors every set of books. The result? Monthly financial statements with unmatched accuracy–so you can get back to running your business.
Once processed, all documents are available from any device. That way, Investor, Vendor, and Management questions can be answered immediately. Search for documents by Vendor, Well, Lease, Job, Rig, General ledger account, Category expense, AFE number, PO number, Check number and more. Whether it’s an accounts payable inquiry, a well history drill down, an AFE review or General Ledger inquiry any document is available at a clicks notice.
The mail must go through and our robots can lick, stick, stuff, and mail – which means we take care of your monthly mailings to revenue owners, vendors, and working interest parties via physical mail or email. Everything from vendor check stub detail, and owner revenue check stub detail to JIBs, Accounts receivables statements, 1099 forms, division orders, gas balancing statements and the like. We’re like your own personal ‘robot sweatshop’.
The General Ledger is the foundation of any good accounting system. Improve financial control over the organization, speed up decision-making, and lower costs.
Fast, easy access to the information you need for day-to-day tasks and period-end processing, including vendor statistics, aging expenses and transaction information.
With done-for-you invoice entry and recording of payments, automate, speed up, and streamline every step of your collection efforts. Access up-to-the-minute statistical summaries, summarized and detailed transaction listings, as well as in-depth management insights – all from a single tab.
We classify, organize, and keep track of your assets – all as easy as a shopkeeper inventorying his shelves. Assets can be classified by type and expensed or depreciated accordingly to give you a complete fixed asset record.
Automate your JIB process to provide your working interest owners with complete information regarding their well expense obligations.
Our robots enter, edit, and distribute received revenues and deductions on all your oil and gas properties.
Gain complete control of capital costs and expenses throughout all phases of the development project, from development, completion, work to misc non-JIB phases.
Turn-keyed tracking of non-consent working interest owners as well as calculate and assign to other WI owners automatically
Your centralized, user-defined codes such as lifting codes, status codes, well groupings, and more – all maintained for you to provide you with maximum flexibility
Chain of title is complicated. We make it easy. We handle all your drilling, completion and JIB interests so you don't have to.
With multi-level profitability tracking with unequaled flexibility, gain insights indispensable to operational management decision-making.
We've teamed up with GreaseBook, a mobile app specifically designed for operators and their pumpers. By importing your production from the GreaseBook app, we reconcile your oil sales, and provide you with a multitude of oil and gas production insights.
Stay informed of each investors' payout position, and keep track of the payouts of working interest owners – all as a by-product of perfect JIB allocation, revenue distribution, and assignments.
We do the heavy lifting, calculating cost depletion, cost depreciation, and dost amortization all based on units of production. Trial Schedules can be produced at any time, giving you an oil and gas accounting solution that simplifies Tax Depletion computation.
Store various types of contracts, documents, or certificates such as JOA, Division Orders, Certificates of Insurance, and W-9’s and associate or “link” them to owners, vendors, well masters and the like.
IHOAGA walks you through all the important aspects of oil & gas accounting – the setup, what you need to look out for, and how everything will affect your financial goals.
By combining your oil & gas finances and relevant external data sets, we’ll help you explore different scenarios, and streamline your operations with a customized plan and a wickedly simple Dashboard to bring it all together.
IHOAGA gives you more than just Revenue, Expenses, and your Bottom Line. Our bookkeeping team tirelessly tracks all your first-party data – JIBs, Check Stubs, Invoices, or otherwise – to help increase your ROI on investment down to the last red cent.
Dial in every Operator and Partner with laser-like decision decision-making and hold them accountable so you can maximize your profit and make more time for shi–err, stuff that actually matters.
The central source of truth for your oil & gas investments, view all your meaningful data from a customizable dashboard or mobile app.
Through a blend of dead-simple oil and gas accounting software and our team of the world’s top oil & gas accounting and finance professionals, we remove the oil & gas accounting nightmare from your in-house responsibilities which enables you to focus on your core competencies: increasing production and minimizing operational drag to reach maximum profit with minimal headache.
We do all the bookkeeping. Which means no software to purchase. No program to learn. Nobody to hire, train, or manage. You leverage the top 3% of oil & gas bookkeepers and a simple dashboard while we do all the heavy lifting.
I Hate Oil and Gas Accounting (IHOAGA) centralizes the metrics from all your assets, right into your pocket.
We simplify, inform & save you time!
Don’t wait until the next Bust to get your most operationally efficient, cost-effective back office in order. Still deciding if we’re right for you? These frequently asked questions may help.
What we do is complicated. What you do is focus on your oil & gas production and investments – we’ll take care of the rest.
That’s right. Simply forward your documents each month, we’ll deliver all your beautiful financial insights hot and fresh.
We specialize in working with small and mid-sized independent US-based oil & gas operators, investors, and royalty owners.
Anywhere, anytime, on any device. Upon onboarding, you’ll be assigned a unique email alias to communicate directly with your dedicated IHOAGA finance team.
Additionally, you’ll have access to your IHOAGA Dashboard on desktop and mobile web, where you can access real-time financial insights and data. No downloading or updates of software is required.
Yes! You’ll have full access to the IHOAGA’s customized Dashboard as part of your monthly subscription fee.
Within 2 seconds – FROM YOUR SMARTPHONE🤯 – you’ll have your answer to any question regarding Revenue, Cash flow, Operating Efficiency Ratios, Operating Profit Margin, Financial Statements, Profitability, Economics, Custom Reports, AFEs, Realized Oil Price, Realized Gas Price, Capital Spend, Fixed Expenses, Variable Expenses, Vendor Analysis, Production Volumes, Sales Volumes, Production Cost, Reserve Life, Investor Payout Tracking, WI Payments Outstanding and more – all sliced and diced and customized at the Company, Operator, Battery, Well, State, County, Section, Township, Range, Acquisition, or even Supervisor level…
Really really customized. You have full control over your Dashboard and Reporting, which enables you to see everything you want and nothing that you don’t.
Unlike your bookkeeper or accountant, everything in IHOAGA is accessible on-demand through our dashboard on your desktop or from your smartphone. Not just financial statements either… we’re talking deep, customizable insights regarding your oil & gas investments and operations.
Oil & gas companies who run Legacy oil and gas software systems expose themselves to major risks (and minor annoyances…)
The complexity of traditional oil & gas accounting systems is twofold:
1. Software Problem: Traditional oil and gas accounting systems are outdated, clunky, and have extremely complex interfaces. These systems demand in depth set up and a MINIMUM of 40+ hours of training @ $150/hr – and that’s just to get a handle on the basics! This doesn’t include your help desk calls, continued training, and the persistent grind that is oil and gas accounting.
2. People Problem: key folks are risky! Anytime someone from your business retires, quits, or runs off with the mailman, you’ll be stuck looking for a replacement who has ‘X Legacy Software Experience’ (which severely limits the size of your available talent pool) or training someone new for another 40 hours at $150/hr.
This is a lose/lose – talk about getting stuck in the muck!
Your shortest path to the largest version of your oil and gas company is for you to focus on what you do best (which is oil and gas…)
As you grow, not only will you be severely limited by how many bookkeepers you can hire, train, and manage – but the operational drag your legacy oil & gas accounting system will create in your operations.
With IHOAGA, not only will you completely eliminate key person dependencies in your back office operation, but (because anyone can gain 99% fluency with our platform in less than 20 minutes) your core management team will have full transparency into your company’s performance.
And not to brag, but if/when you go public, you’ll be glad knowing you got there more quickly and for a helluva lot less sweat BECAUSE of IHOAGA.
At this point, we’ll celebrate with you and be glad to help you transition to SAP. 🤝
Side note: not to be a Donnie Downer, but let us remind you we operate in a cyclical industry and best-laid plans of mice and men often go awry. Laying off people not only SUCKS but letting highly trained people go is an enormous waste of your resources.
So, next time oil touches $30, remember IHOAGA will scale DOWN with your needs just as easily as we scaled up.
Wrong. Why? One word: Accessibility.
A vendor calls on the phone, have you paid the man? Or, is payment still on hold?
Oh wait, lemme check….
Ahhhh ok so you dial up your accounting firm…..
You: “Hello! Yes, yes I know this is the 4th time you’ve heard from us today…curious, have we paid Vendor Vicky? We sent you a cash requirements list last week… what do you mean you can’t find it? …. call me back once you’ve checked…”
This nightmare CAN be avoided.
While outsourced Accounting firms DO remove all the headaches you’ll encounter with a traditional oil & gas software system (the set up, the training, and the redundancies that must be in place…), they DON’T enable everyone on your team to answer simple questions or make a data driven decisions regarding Vendors, Partners, Wells, Operators, JIBs or the like… No bueno.
With IHOAGA, you’ll have access to your data on demand right on your computer or smartphone.
Whoa, Nelly! Let us make one thing clear: Everybody does accounting, but IHOGA makes everything Accountable.
To run your most profitable business, you must make everything Accountable.
We show you where your profits are, where your losses are, where your expenses are, what your returns are, where the losses are… so, ‘accounting’ in the traditional sense ain’t gonna cut it here, especially for you operators.
Since 1979, our family business has been providing oil and gas accounting software, bookkeeping and accounting services to more than 200 oil & gas operators, investors, and service companies – both small ma & pops and publicly traded companies alike.
IHOAGA corporate outpost is proudly located in Oklahoma City, Oklahoma.
Rather than having to juggle different contacts for different requests, the IHOAGA Finance Concierge serves as a single point of contact to reach your dedicated team of IHOAGA Finance Experts (bookkeepers, CA/CPAs, CFOs, etc).
Customers can email their dedicated @IHOAGA.com email address with questions or requests, or request a call with our finance team at any point in time.
Remember, chat support is also available via the ILOAGA Dashboard.
The IHOAGA Finance Concierge is fully-staffed Monday through Friday, 8AM to 5PM CST. We have a real-time chat through which most questions are answered in 2 minutes or less. We aim to complete all callbacks within two hours of scheduling.
And, for all bigger tasks we’ll respond with an anticipated timeline for completion. Of course, your Dashboard and Reports are available to you 24/7.
Glad you asked. Given we’ve been working in oil & gas accounting for more than 40 years, we’ve worked with and trained thousands of oil & gas bookkeepers (many of which are fluent in several different legacy oil & gas accounting systems…)
That said, we simply hired the best ones 😘
The IHOAGA Finance Team is made up of Accountants, Chartered Accountants (CA), Certified Public Accountants (CPA), Tax Advisors and Chief Financial Officers (CFO) – all with a collective 500+ years of experience.
Beyond their respective degrees and years of experience, each IHOAGA Finance Expert has completed certifications for the core accounting and financial services used at IHOAGA, and most team members are fluent in one or more Legacy Oil & Gas Accounting Software Systems.
We spend as much time as needed to get the job done. We do not charge clients on an hourly basis, so all of the time spent servicing your business — human, or otherwise — is included in the flat monthly subscription fee.
We value your time, and the IHOAGA onboarding process takes about 25 minutes to complete via an online video call.
Basically, we’ll request you share your screen and walk you through the various points to get IHOAGA up and running (e.g. bank statements, credit cards, access to prior accounting system, payroll provider, etc.)
Your IHOAGA Finance Concierge email will be set-up prior to onboarding and ready for use immediately. And, once we have access to your accounts and make any recommended updates to your chart of accounts, your IHOAGA Dashboard will be activated — typically within one week of joining IHOAGA.
Let us help you get out of your own way. Simply answer a few questions, and one of our financial experts will turn-key your entire set up for you.
Then, redirect your JIBs, bills, check stubs and the like to a new address we assign you and we’ll account for everything just like we said we would. Bada bing.
Drop the zero and get with the hero. Seriously, we’ll work with you to migrate your data from your current accounting software – ‘done for you’ and included in your first month’s fee (most folks won’t even touch it…)
In fact, we’re the ONLY oil & gas accounting service that guarantees FULL DATA CONVERSION from ANY oil and gas accounting software platform on the market.
We’ve successfully migrated users from every major oil and gas accounting system, including Wolfepack, OGSYS, Enertia, Quorum, Excalibur, Roughneck, AS400, Avatar, Inegra, Petroware, OGAS, Quickbooks and more! Don’t see your software listed? Just ask!
Yes. And first, we need to get you back on track. Once you’re onboarded and your accounting and bookkeeping is running like it should, we’ll go back and help you catch up on your books.
Typically, it takes us 2-4 weeks to complete one year’s worth of overdue bookkeeping. We can get your small business caught up, the right way
Yes, Bill Pay and Invoicing Services are available to you – we even lick, stamp, and stuff physical mail and send it out the door if you’d like that, too.
IHOAGA defaults to using accrual basis accounting, but can work with companies who require cash basis accounting, too
IHOAGA does not provide formal HR services at this time.
IHOAGA will serve any company anywhere, as long as their transactions are dollar-denominated and operations take place in the United States.
IHOAGA offers advanced, bank-grade protection of all of our customers’ data and information. All network connections use military-grade 256-bit SSL/TLS encryption and ECDHE_RSA Key Exchange Algorithm. For more info please visit our Security page here.
While we have the capacity to serve publicly traded companies, if at any time you decide you’d like to leave we’ll never lock you into our service. You have lots of decisions to make in your businesses, so our goal is to make your bookkeeping as easy as possible.
While non-operators and royalty owners can get away with Cash based accounting, we (highly) recommend Accrual based accounting for all oil and gas operators. That said, we’ll run it anyway you want, pardner.
You betcha. IHOAGA applies GAAP to your accounting transactions in accordance with COPAS accounting principles.
Your books are closed and delivered within one week of month end. Each customer receives a CFO Insights Report via email which summarizes all your key financial metrics (burn, runway, cash in the bank, operating expenses, cost of sales, revenues, etc.), with your formal monthly P&L Statement, Balance Sheet and Cash Flow Statement attached all with no delays, no “we’re running behind”, no bull.
Absolutely! We review, update, and fix every transaction categorization on a daily basis, and ensure receipts are properly attached within your accounting software.
IHOAGA also manages all invoices and receipts for you in a central location.
IHOAGA is a full-service platform, where everything is managed by our in-house team of certified accounting experts.
Entries into IHOAGA are made by a blend of human financial experts in collaboration with our AI-powered technology platform to deliver 100% accurate books.
To be clear, from time to time we’ll clarify on coding any non-recurring expenses for Operating, Dry Holes, Completions, and Reworks.
That said, we’ve found most operators want to be involved in this process as it helps them identify where their money is being spent.
No longer have to worry about redundancies for your bookkeeper quitting, retiring, or simply not showing up because IHOAGA simplys supplants your back office.
No. IHOAGA offers tax services for a flat annual fee starting at $2499/year. The IHOAGA Tax plan includes federal, state, and local tax returns, R&D Tax Credit, and support of ongoing tax and compliance needs throughout the year.
That’s not a question, but actually no.
For comparison, the average full time bookkeeper demands $24/hr ($48k per year). The full time average oil & gas accountant demands $31/hr ($58K per year).
And, with the average part-time or outsourced bookkeeper or accountant, you’re losing untold hours in communication and lack of insight into your operations.
And, if you want to bring your accounting in house that doens’t include any oil & gas accounting software fees.
Not only will IHOAGA save you money, we’ll save you from headache AND you’ll run a FAR more profitable operation.
So, we’re actually kind of a bargain.
IHOAGA’s pricing is contingent upon the following:
1. Number of operated wells
2. Number of non-operated, working interests
3. Number of non-operated, royalty interests
Pricing automatically scales up or down based on the average of your past two months’ expenses. No hourly billing, no surprises.
Yes. We offer flexible subscription payment options, including monthly and annual (upfront) payment terms. All IHOAGA subscriptions auto-renew at the end of one-year period unless canceled prior to renewal.
We’re ready when you are. And our robots are too. Take the quiz here then schedule a call – there’s a good chance we can get you up and running by the first of the month.