Print Vendor 1099s

SmartFusion Modules > Accounts Payable > Reports> Print Vendor 1099s

Recent changeschanges:
6.65
- Change the processes to pull in vendors who had vouchers flagged for 1099s, but were not flagged as 1099 vendors

6.64
- On the file creation, it now creates 2 files, one for Participating States, and one for non-participating states
Recent Changes for 

6.41
- Added Foreign Transferor to the created File on this page.

Introduction

The printing of 1099’s is designed to print on pre-printed laser stock, which could require printing three times. This includes one printing for the Internal Revenue Service copy, one printing for the recipient, and one printing for an internal file copy. Summary information needed for form 1096 can be optionally printed after the last 1099 is printed.
If your organization plans to submit 1099s on diskette for the IRS, you must first set up the 1099 Magnetic Media Information on page 2 of the Accounts Payable System file. The transmitter control code is also required which can be found in the Organization System Settings. If any of this is missing, an error file will be generated during the process which will instruct the user that the system file is missing information.

Explanation

Select process

  • Print 1099s
  • Create File - This process accommodates the state total reporting. A “K” record is created for each state that is being reported in the file.

Select 1099 type - Allows the user to select the type of 1099s to be included.

  • Miscellaneous
  • Dividend
  • Interest
  • Real Estate

Enter filename
Enter Vendor range to include
Enter Alpha Sort range to include
Enter Check Date range to include
Minimum 1099 amount to include - defaults to $10.00 for Dividend and Interest 1099s; defaults to $600.00 for Miscellaneous and Real Estate 1099s
Include totals information for form 1096?

Additional Notes

The file that is created for Miscellaneous also includes vendors flagged as Legal, Medical, Nonemployee, Other, & Rent.

Sales tax amounts are not reported on the 1099-MISC.