Streamlined 1099 Process

Make use of advanced cloud technology to automate your 1099 workflow, ensure on-time delivery of 1099s to interest owners and produce necessary details/files for accountants and the IRS.

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Reduce the Burden of Tax Season with 1099 Assistance

MISC & NEC Consolidation

Petrofly will automatically consolidate revenue disbursements paid throughout the year and allocate the correct amount towards the MISC for landowners and NEC for working interest partners. If a recipient has both royalty and working agreements with you, the system will produce a MISC and a NEC with the appropiate amounts and details.

Reports & Exports

Petrofly provides many reports to ease the 1099 process such as a payment report detailing and breaking down every royalty paid through the year. Petrofly is capable of producing a ready-to-file document for IRS E-filing.

Copy B Handling

Whether for 1099-MICS or 1099-NEC, Petrofly provides to ability to bulk generate copy B files for all owners and partners that reach the minimum required amount. The produced files are ready to mail and can be automatically emailed directly to recipients.

Reduce the Burden of Tax Season with 1099 Assistance
Detailed Data Tracking
Petrofly tracks and manages all payment information entered into the system and consolidates it to the appropriate timeframe. Providing historical 1099s for interest owners have never been easier.
Tax Filing Assitance
Petrofly provides the consolidated details for 1096 information alongside the ability to print information directly onto 1099-MISC and 1099-NEC copy A forms. In addition to ready-to-drop E-file compliant documents, Petrofly provides MISC and NEC recipients reports to be provided to accountants to streamline the tax filing process.
Streamlined Workflow
Eliminate manual mistakes, improve productivity and reduce paperworking by automating your workflow with Petrofly. By reducing costs and time spent on 1099s, your team can focus on managing and growing your operations.

Have a question? Speak to our experts anytime at 1-833-363-7359.

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