Update 1099 File

When the 1099s were created the basic 1099 data that was created can be viewed on this window. It will show a record for every 1099 created. The amounts displayed here are the information that will print on the respective entity's 1099. You can change the information here if you want a different amount to appear on a specific 1099. If the 1099s are recreated with the "Create 1099" window after changes are made then the changes will be lost.

The 1099 records for every year you have created 1099s in SherWare will be available to be viewed on this window so be sure you are looking at the correct year if you are making changes to an entity's 1099.
To edit an existing 1099 record, click the List button on the toolbar to locate the record to be edited. Once you have located the record to be edited from the lookup list, click OK to bring that record to the screen.

You can press the new button and add a record for entities that are not in SherWare but still need to receive a 1099 from your company. Any changes made on this window will affect the basic 1099 file but not the 1099 detail file. You will also need to update the 1099 detail file on the "Update 1099 Detail File" window for the owner affected if you want the reconciliation report to match the amount of the 1099.

NAVIGATION: When browsing between records, be sure to use the lookup list in the toolbar. Changing the owner in the ID field will not take you to a different record but will assign the visible interest to the owner you select. This is changing the information on the current record instead of navigating to a different one. Be sure to use the navigational tools provided in the toolbar to prevent mistakes.

Year - The year this 1099 record is for.
ID - The ID for the owner/vendor. This can be left blank if manually creating a record. This will print on the 1099 in the "Account Number" box.
Name/Name 2 - The name of the entity receiving the 1099. If the name is longer than what fits in the first line or they have a second name that needs used as well then the Name 2 Field can be used. This information will print on the 1099 in the Recipients name box.
Type - Specifies if this 1099 record is for an owner or a vendor. This does not affect the actual 1099.
Program - The program associated interest that this 1099 record is for. This is often blank. If a program is specified then the program would have been setup in SherWare on the program/partnership information window, and then associated with the interest on the Division of Interest window. This will not show up on the 1099.
Net or Gross - Indicates if this 1099 record is based on gross or net revenue. The actual 1099 will not indicate whether they were built on net or gross.
Address/City/State/Zip - The address for the entity this 1099 record is for. This will appear on the 1099 in the "Street Address" and "City, state, and Zip code" boxes.
Tax ID - The tax ID for the entity this 1099 is for. This will appear on the 1099 as the "Recipient's identification number".
Royalties - The amount paid to both Override and Royalty Interest owners will be reported in this box.
Non Employee Compensation - The amount paid to both Working Interest owners and vendors will be reported in this box.
Pmts to Attorney - SherWare will not report anything in this field automatically. If you need to report an amount in this field you can manually add it here so that it will report on the 1099.
Federal Tax Withheld - Any amounts charged to an owner from the backup withholding specified on the options tab of the owner information window will be reported in this box.
Rents - Payments made from the Land Module for delay rental payments will be reported in this field. If you do not have the Land module then nothing will post here for DM/DMIE Users.
Other - SherWare will not report anything in this field. If you need to report an amount in this field you can manually add it here so that it will report on the 1099.
State Tax Withheld - Any amounts charged to an owner from the tax withholding specified on the division of interest window will be reported in this box.
Well ID - The ID for the Well this 1099 record is for. This will only be filled out if building the 1099s by well.
Well Name - The name of the Well this 1099 record is for. This will only be filled out if building the 1099s by well. When printing the 1099s by well this will report as the Payer's name
Well Tax ID - The Tax ID of the Well this 1099 record is for. This will only be filled out if building the 1099s by well. When printing the 1099s by well this will report as the "Payer's federal identification number".