Follow

Quick Step Guide – Generating IRS forms 1099 and 1099-NEC and related forms 1096

Review

  1. Click Edit | Adjust Preferences | General and review Minimum 1099-Misc Payment Amount.
  2. Click Reports | Vendors | Vendor Master List to review vendors checked to receive a 1099-Misc.

    2a. the flag that controls which vendors receive a 1099 can be found at the Manage Vendors workspace.  Selecting a vendor from the list will display the detail for that vendor, along with a checkbox to indicate whether or not this vendor should receive a 1099.

Create 1099s

  1. Click Manage Vendors in the Primary Task Box.
  2. Click Tools tab.
  3. Click Process 1099 Records.
  4. Enter the Year to Process at the top of the window.
  5. Verify the Payer Information.
    5a. If the 1099s will be e-Filed make sure to enter the Transmitter Control Code
  6. Select the vendor’s address where the 1099 will be mailed.
  7. Click Process 1099s.
  8. The Manage 1099s window appears for you to review the created 1099s.
    Note: All vendor payments are assumed to be Non-Employee Compensation and is now (2020) reported on the 1099-NEC (Formerly 1099 box 7).  If you have vendors who have received compensation that needs to be reported in a different box on the 1099, you will need to “edit” the 1099 and place the dollar value in the corresponding field
  9. Click Close when done.
  10. Click Close again to exit the process.

Review 1099s

  1. Click Manage Vendors | Reports | 1099-Misc Audit Report.
  2. Check the Year to Process, if needed adjust the other filters, and click OK.
  3. Click the Print Icon in the upper left corner.
  4. Select the correct printer.
  5. Click OK.
  6. Review the report to ensure correct vendors are included and the correct amounts are reported.

Manage/Edit 1099s
To review 1099s or make changes after they have been created:

  1. In Manage Vendors click Tools tab.
  2. Click Manage 1099s.
  3. Select the vendor by clicking the vendor's name.
  4. With the vendor record selected, click the Edit button to make adjustments.
    Note: All vendor payments are assumed to be Non-Employee Compensation and is now (2020) reported on the 1099-NEC (Formerly 1099 box 7).  If you have vendors who have received compensation that needs to be reported in a different box on the 1099, you will need to “edit” the 1099 and place the dollar value in the corresponding field. 
  5. When finished with the review, click the Close button in the bottom right corner.

Print 1099s

  1. Click Manage Vendors | Reports Tab | 1099-Miscor 1099-NEC
  2. Verify the Year to Process and click OK.
  3. Verify the Year to Process and click OK.
  4. Print 1st copy on plain paper to check alignment.
  5. Click Print Icon to print on plain paper.
  6. Select the correct printer.
  7. Set ‘Page Range’ to Current Page.
  8. Click OK.
  9. Compare print-out to preprinted form. If the print lines up, then proceed. Otherwise, contact Support to adjust the printout.
  10. Insert one copy/group of the 1099 forms into the printer.
  11. Click the Print Icon in the upper right corner.
  12. Select the correct printer.
  13. Click OK.
  14. Repeat steps 9-12 until all copies are printed.
  15. Click Close to exit report.

(Optional) Create 1099 E-File

  1. Click Manage Vendors | Tools tab | Export 1099s.
  2. Click Folder Icon button and enter location and name of file to be created.
  3. Click Next.
  4. Checkmark the appropriate boxes by clicking them.
  5. Click Next.
  6. Review any errors listed and click Cancel to make corrections or click Next to proceed.
  7. Click Upload File to go to the IRS website and submit the file, OR Click Finish to exit the tool.

Print 1096s

  1. Click Reports | Vendors | 1096-MISC for 2020 
  2. Verify the Year to Process and click OK.
  3. Print 1st copy on plain paper to check alignment.
  4. Click Print Icon to print on plain paper.
  5. Select the correct printer.
  6. Set ‘Page Range’ to Current Page.
  7. Click OK.
  8. Compare print-out to preprinted form. If the print lines up, then proceed. Otherwise, contact Support to adjust the printout.
  9. Insert the preprinted 1096 form into the printer.
  10. Click the Print Icon in the upper right corner.
  11. Select the correct printer.
  12. Click OK.
  13. Repeat steps 9-12 for the 1096-NEC for 2020 until all copies are printed.
  14. Click Close to exit report.
Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.
Powered by Zendesk