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WolfePak's Depletion Module automates and simplifies depletion allowance calculations and summarizes reports used for IRS tax reporting purposes. The Oil & Gas industry has, in the past, required in-depth, labor-intensive data duplication and calculations for depletion allowances that can now be done with existing information from WolfePak's General Ledger and Oil & Gas Check Stub modules.

Features include:

• Calculates and reports both percentage & cost depletion
• Automates Marginal/Stripper determination
• Calculates carry-overs, reserves, leasehold & accumulated depletion
• Pulls all necessary current year amounts from the GL
• Creates GL entries to record depletion taken