TexRev is a powerful online web application site developed by Shiv Om Consultants, Inc. to assist clients with their natural gas tax accounting, report filing and account maintenance processes.  TexRev provides quick and easy access to information reported to both the Texas Comptroller’s office and the Texas Railroad Commission.  By using TexRev, clients can reconcile this reported information with their tax payments and their financial books.  Key features of TexRev include the following:  

•Clients can generate and upload EDI records to the Texas Comptroller.

•Clients can view summaries that show their company’s revenue on a district and/or lease basis.  This is useful in looking up data about particular sets of leases, taxpayer identification numbers and/or filing periods.  

•TexRev shows revenue detail on an aggregate level so that reporting patterns that repeat across counties, production periods and taxpayer identification numbers can be identified.

•Account Detail screens provide summary reports of revenue from a transaction level.  This is useful in reconciling company filings with the state records on those transactions.

•Clients can view the reporting history for a particular lease and see a trail of data changes and other corrections that were made for a specific lease and/or reporting month.    

•Links to the Railroad Commission site allow for verification of production information, lease numbers, and disposition information.

•Clients should be able to easily identify and prevent reporting errors.  Tex Rev’s “Predict Errors” function is designed to mimic the error detection and data change process a record goes through when submitted to the state.

•A key component of TexRev is the Exemption Lookup function that allows clients to easily identify available tax exemptions.  The system checks your selected transactions and compares it to the tax exemptions registered with the Comptroller’s Office.  

Although the Texas Comptroller of Public Accounts offers its own tools through the CONG system, there is still a need for a comprehensive online portal that allows users to retrieve and process revenue data on a micro and aggregate level.  Shiv Om sought to identify key needs of natural gas revenue analysts and design an online website that satisfies those needs as efficiently as possible.  That product is TexRev.