Edit / Print Non-Employee Compensation 1099's
To print Non-Employee Compensation (NEC) 1099’s, go to Payables > 1099 Entry/Printing > Edit/Print Non-Employee Compensation 1099’s.
Before printing 1099’s, you must Compile YTD Totals.
Normally, you will not need to edit any 1099 information. However, if you need to add payments not in payables, reclassify a payment, delete a 1099 created in error, or edit recipient information we suggest that you first print a report that will list all of the 1099’s to be printed. Then, proceed to edit if necessary.
Note The option to preview the 1099’s as you are printing them has been eliminated. If there is a 1099 that should not be printed, you can delete it before the final printing process.
To edit or delete an entry:
Payment Year
Enter the payment year for the 1099’s you are working with.
Account #:
Enter the account # of the vendor to edit or delete. You can use the F4 key to get a list of the 1099’s that have been created for the payment year selected.
Make any necessary edits and then save the information. If you need additional information about the 1099 NEC payment categories, or any information about reporting requirements for each category, please refer to IRS regulations.
To delete a 1099, use the Delete button in the lower right corner.
To add a 1099 record:
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Enter the Payment Year for the 1099 you are adding.
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Click New 1099.
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Select the vendor for which you are creating a 1099. You can do this by using the vendor account # or the Name Key.
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Once you have the vendor account selected, click Ok. The 1099 will be created. You can then add the 1099 amounts in the correct category on the edit screen, and save.
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If you decide not to create the 1099, click Cancel.
Excluding Amounts from the 1099
By default, all amounts paid to a vendor will be included on the 1099. There may be times when you issue a check to a vendor and the amount, or part of the amount, should not be reported on the 1099. You may be able to exclude amounts based on the general ledger account that you use when expensing the check. Each General Ledger account has a checkbox indicating whether or not amounts expensed to the account should be included in the amount reported on the 1099.
If you cannot use this feature to exclude amounts, you may need to determine the 1099 amount by running reports in the Accounts Payable and/or General Ledger system to determine which amounts are to be included on the 1099. You can then adjust the amount by editing the 1099 record as described above.
Issuing Two 1099’s to a Vendor
The vendor file is set up to handle one 1099 type per vendor. If you need to issue two different types of 1099’s to a vendor (e.g. a miscellaneous 1099 and an interest 1099) and you want the program to track the amounts for each 1099, then you will need to set up two different accounts for that vendor. Be careful to use the right vendor account depending on what type of check you are writing.
You can also accumulate all amounts in one vendor account and then run a report at the end of the year to separate the 1099 amounts. You must use separate G/L accounts, one for each 1099 type. Then, you will need to create a second 1099. Edit the amount on the first 1099 the program created and enter the balance to report on the second 1099. See the information above on adding a 1099 record.
Print 1099 Report
Click on this button to print a report of all Miscellaneous 1099’s for the payment year selected. If the 1099 appears on this report, it will be printed when using the Print 1099 Misc button, unless, during the printing process, you exclude by entering a Minimum Purchase Amount.
Printing NEC 1099’s
To print the 1099 forms, click Print 1099 Misc in the lower left corner of the 1099 edit screen. When you do, the following screen will appear:
Year to Print
Enter the year to print. If you entered the year on the previous screen, it will be filled in automatically.
Minimum Purchases Amount
You can specify a minimum dollar amount to select 1099’s for printing. If you have already done so when creating the 1099 records, or you have deleted unnecessary 1099 records, you don’t need to do it here.
Top Margin, Bottom Form Offset, Left Margin
Normally you do not have to adjust these settings. However, we recommend that you do a test print on blank paper and then overlay it on the pre-printed form to make sure the alignment is correct. If it is not, you can adjust the margins to move the printing up or down, and left or right.
Report Order
You can print 1099’s in account number or alphabetic order. This is a personal preference, the IRS does not have specific requirements in this regard.
Preview/Print
We recommend that you preview and print a couple of test pages on blank paper. When the alignment is correct, you can insert the pre-printed 1099 forms into the printer, then print from the preview screen.
If you need to adjust the margins, close the preview window and preview again, with the new settings. Check it again before proceeding with the final printing.
Printing the 1096
After you have print the 1099’s, click Print 1096 button and the following window will open.
Review the information that appears in this window and make any changes that may be needed. The total of the 1099’s that were just printed will appear automatically in the Total Amount Reported box.
Click Preview to preview the printout on the screen. Put the 1096 form in your printer and click Print when you are ready to print it.