Create Vendor 1099s

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Activities ... Vendors ... Create Vendor 1099s

 

 

About Vendor 1099 Creation

 

This wizard-style process allows your company to print out 1099 forms to those individuals that require one.  The wizard will calculate amounts that vendors have been paid based on certain general ledger account information and disbursements that were paid to vendors who are eligible for 1099 forms.  The wizard also allows you to review the particular tax information required on the 1099 forms and modify it accordingly.

 

 

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Quick Help - Create Vendor 1099s

 

1)Click on Activities ... Vendors ... Create Vendor 1099s.
2)Enter date criteria, then click Next.
3)Review the list of 1099 forms to create, then click Next.
4)Confirm your company information, then click Next.
5)Select method of output and form to output.  Click on Print or Create.
6)When finished with all forms, click on Finish.

 

 

 

 

Field by Field Help - Create Vendor 1099s screen

 

Welcome to the Vendor 1099 Wizard

 

Date Range

Select the data range for which 1099 data should be accumulated and calculated.

 

Start Date

Enter or select the starting date for which 1099 data should be accumulated and calculated.  Typing or selecting a date in this field will cause the Date Range field to change to Custom.

 

End Date

Enter or select the ending date for which 1099 data should be accumulated and calculated.  Typing or selecting a date in this field will cause the Date Range field to change to Custom.

 

Mark all 1099s as "Corrected"

Check this box to have all 1099 forms that print marked corrected.

 

Mark transmittal as "Final Return"

Check this box to have the transmittal file marked as a Final Return.

 

Vendor Selections

 

This window lists the vendors that have been selected for the purpose of receiving a 1099 form.  Each listing will reference the vendor ID, vendor name, whether their tax ID is valid, whether their address is valid, and the 1099 amount.  The total 1099 amounts are determined by disbursements that go to pay off GL accounts where 1099 status have been set to a particular box number.  When these totals exceed the amounts set in the Tax 1099 Setup, a form will be produced for that vendor.

 

Total Forms

Displays the total number of 1099 forms to print.  This information will also print on the 1096 form that can optionally be printed at the end of the wizard.

 

Total Federal Withholding

Displays the total dollar amount of withheld monies when a 1099 is issued for having taxes withheld.

 

Total 1099 Amount

Displays the total amount of 1099s to be filed.  This information will also print on the 1096 form that can optionally be printed at the end of the wizard.

 

Mark All

Click this button to mark all of the 1099s in the list.

 

Unmark All

Click this button to clear all of the marked 1099s in the list.

 

Valid Only

Click this button to mark only those listings with a valid tax ID and a valid address.

 

Invalid Only

Click this button to mark only those listings with an invalid tax ID or an invalid address.

 

Edit 1099

Click this button to modify the 1099 record selected.  If you do so, you will encounter the following fields:

 

RECIPIENT Tax Id

Displays the tax ID of the vendor for which this 1099 form is being created for.  If edited, it will affect the 1099 record only and not the vendor record.

 

RECIPIENT Name and Address

Displays the name and address of the vendor.  If edited, it will affect the 1099 record only and not the vendor record.

 

Corrected

Check this box to note that this 1099 record and the form that will be printed from it is a corrected version of an earlier 1099 form for this vendor.

 

Box 1 through Box 14

Displays the amounts or checkboxes to be placed in the appropriate boxes.

 

Company Information

 

PAYER Name

Displays your company name that will appear on all of the 1099 forms.  You can edit the company name which will affect these forms only.

 

PAYER Address

Displays your company's address that will appear on all of the 1099 forms.  You can edit the company address which will affect these forms only.

 

PAYER Federal Id

Displays your company's federal tax ID.  This can be edited here for appearance on this set of 1099s only.

 

SSN

Displays the social security number to be used in lieu of the Federal Id, if one is not provided.

 

Contact Person

Enter the company contact name that will be reflected on the 1099 forms.

 

Contact Phone

Enter the company phone number to be shown on the 1099 forms.

 

Contact Fax

Enter the company fax number to be shown on the 1099 forms.

 

Contact E-Mail

Enter the company's e-mail address here.

 

Transmitter Control

Enter the control number here as required by the IRS if you are sending your 1099 information electronically.

 

Output Selection

 

Choose one of the following output methods for your 1099 information:

 

Form 1099(s)This option will fill in pre printed 1099 forms with the appropriate information.  Two forms will print per page.

 

Form 1096This option will fill in a pre printed 1096 form with the appropriate information.  This process will print on as many pages as necessary.

 

ListThis option will print a report that will list those companies that were marked earlier in the process.  Pertinent vendor information is included in this report.

 

Disk FileThis option will allow you to export your 1099 & 1096 form information to an electronic file.  This is normally only required for those companies who exceed a set number of forms.

 

If you are using any of the first three choices, you will have the following buttons on the right side:

 

Print

Click this button to immediately print the selected output.

 

Preview

Click this button to preview the output with the option to print afterwards.

 

If you elect to use the Disk File option, you will have the following button on the right side:

 

Create

Click this button to create the disk file in the folder of your choosing.  The resulting file is called IRSTAX.

 

infoAfter you have finished all of your outputting of tax information, click on the Finish button.

 

 

 

 

Q & A - Create Vendor 1099s

 

Q01.When I click on Activities, then Vendors, I do not see the menu item for Create Vendor 1099s.  Why is this?
A01.Most likely your country code is not set to USA.  Since the United States uses this form to report various forms of income from non-salaried sources, this menu item will only be available if the country code is set to USA.  This setting can be found in Setup Company.

 

Q02.I don't see my question here.  Where else can I get information?


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