Owner 1099 Reconciliation

A one page summary of each owner's totals per well of: MCF, BBL, gross revenue, operating expenses, severance taxes and owner's net total. The amounts showing on this report come from the 1099 detail file that is created when the 1099s were created. Every amount on this report can be seen and edited on the "Update 1099 Detail File" window. This report can be sent to each entity of they want a more detailed breakdown of what makes up the amounts on the 1099.

You will not be able to view this report for a year until after the 1099s have been created for that year.

If the option to "Build 1099s based on Gross Revenue" is not marked in the MISC preferences then expenses will not be included on this report.

Year - The year that you want to print 1099 MISC Replacement form for.

First/Last Owner - The first and last IDs in the range that you want to view the report for. "First" and "Last" will be used to indicate that the range will either start or end with the first/last ID in the range when including all 1099s.

Mask Recipient Tax IDs - The report will not show the tax ID for each entity if this option is marked. Generally this option is not used. The IRS does accept 1099s with masked tax IDs. This option will add security and is a safeguard against identity theft.