What are the concerns? Escheatment (unclaimed property) compliance can seem like a daunting challenge for operators, family offices and others in the Oil & Gas industry. There are no shortcuts, and understanding how the requirements apply to you is the most important step to ensure you are operating within reporting guidelines. Eddye Dreyer Financial Services has decades of experience with regulatory filing and escheatment law. Let us help keep you on the track to full compliance. Mineral interests, royalty payments and land leases can be complicated by a simple… read more
Following the move to remote work for our almost 100 employees in the Spring of 2020, two themes became clear for the Partners of Eddye Dreyer Financial Resources and The Resource Group: The bond between our employees and their clients is strong, resolute and compassionate, and exists in a place outside of a sterile bookkeeper/client; and Our Company’s pursuit of an enhanced client experience through technology will continue to make us better. Client-Employee Relationships are Paramount Upon purchasing EDFS and TRG, employees continually expressed how important their relationships with clients… read more
Are you ready to outsource your Oil & Gas bookkeeping? How do you know when it is time? Here are a few tips to make sure outsourcing is right for you.
One area of oil and gas accounting that probably receives less attention than it should is the topic of regulatory compliance. Mr. Federal Tax Collector as well as the great State of Texas, and everywhere else there is oil and gas production want their share of the revenue generated by extracting hydrocarbons from the land under their borders. Oil states are, after all, highly dependent on severance taxes as a source of revenue. However, with the volatility of commodity prices, generating stable cash flows is an enormous challenge for state… read more
Everyone is familiar with time and material billing. We do the work and whatever time it takes; we bill you at the end of the month. It may be fair, and it may be accurate, but it can give clients heartburn when they don’t have insight into their monthly expenses, especially in today’s environment. A new trend we’re seeing in outsourced service businesses, and one we’ve started offering, is fixed fee billing (a set cost for services that does not change based on time spent). Let’s explore how this could… read more
When onboarding our new clients, we understand that this is the time to instill confidence, keep things moving forward and begin to build a relationship. The beginning of a successful onboard starts with in-depth conversations with a new client about goals, the current state of their back office and what success looks like for the company. But it’s even more than that. Let us walk you through what can you expect when onboarding with Eddye Dreyer Financial Services. Assess and Build a Plan of Action Most of the work for… read more