Does Your Accountant Know the Buzz Words?

If you happen to be providing products or services to the oil and gas sector in Fort Saskatchewan, you know the importance of using the best accounting software.

This is particularly true as the hydrocarbon processing remains a key component to long-term growth in that region.

But one of the drawbacks for small and medium sized businesses is keeping on top of the company’s growth. That often means investing in a scalable system (i.e., a system that is able to handle an amount of work that continually grows larger) that can keep up with plans to add new customer accounts, branch offices, or more staff members. It simply doesn’t make sense to invest time, money, and personnel into a system that merely keeps up with basic tasks.

The key to this is growth process is finding an accounting firm to partner with that is well-versed in the oil and gas industry. They should have a basic knowledge of all oil and gas terminology and specific knowledge about things related to the money side of the industry: flat rate royalty, API numbers, completion and incompletion costs, JIB statements, royalty interest, severance tax, drilling costs, etc.

To be a real player in the oil and gas industry, your time is best spent finding and working with the higher-end chartered financial service companies, such as Asyma Energy.

They are prepared to deal with the seven economic/industrial clusters that have been identified by the city of Fort Saskatchewan as “having significant growth potential for Fort Saskatchewan over the next decade” –

1. Hydrocarbon processing
2. Light and medium industrial and related service and supply operations
3. Eco-industrial manufacturing, services and technology development
4. Retail, commercial and hospitality services
5. Office development
6. Tourism and entertainment
7. Small business and entrepreneurship

(To read more from the city of Saskatchewan’s website and to learn more about their oil and gas industry predictions, go here.)

Maybe your vendor list is growing so fast that bills are – unwittingly, of course – going unpaid because the office help you have is part-time and/or your employees’ idea of record keeping doesn’t go far beyond stacking the paperwork in client coded stacks.

Contact Asyma Energy today. We can keep you in the game