A system of one or more configurable flowmeters allows an individual, locally or remotely, to selectively activate one or more functions of the flowmeters. The individual is capable of selecting which parameter of the process flow that the flowmeter is to measure, thereby effectively providing latent functions that may be selectively brought on line or shut off. The system may also allow an individual, locally or remotely, to selectively activate one or more latent flowmeters in the system. The system may be a distributed control system (DCS), which receives input signals from conventional meters and devices in the process flow and provides control signals to one or more devices in the flow process. The system may also provide a method of flowmeter selection and billing.