1099 reporting

1099 - S1099

  • 1099 box (GESBX9)
  • 1099 beginning balance (GESB9B)
  • 1099 generation (BPS1099GEN)
  • 1099 payment summary (BPS1099SUM)
  • Calculate 1099 payments (BPS1099CLC)
  • Invoices (GESPIH)
  • Invoice/Credit memo trans. (GESPTF)
  • Suppliers (GESBPS)
  • Supplier 1099 box (GESB9M)
  • Supplier BP invoices (GESBIS)
  • Supplier category (GESBSG)

CPT chapter / DAS group

  • DCLFEES - Fees declaration

Description

The ability to identify 1099 suppliers as well as track 1099 invoices and payments is available for North American businesses.

Setup

  • The S1099 activity code (1099) must be active.
  • Once active, the following 1099 functions are available:
    • Supplier 1099 box
    • 1099 box
    • Calculate 1099 payments
    • 1099 payment summary
    • 1099 beginning balance
    • 1099 forms
  • Set the following parameter to 1099:
    • DCLFEES - Fees declaration (CPT chapter, DAS group)

Purchase invoice entry transaction

A selection for the Fees declaration on the Header section of a purchase invoice entry transaction to control the display of the 1099 related fields. The selection and display behavior are as follows:

  • Entered: If this value is selected, then all related controls can be entered with the exception of Amt. subject to 1099, since this is a display only field.
  • Displayed: If this value is selected, then the default values will be displayed, but cannot be changed on the purchase invoice.
  • Hidden: If this value is selected, then the default values will be used, but will not be displayed on the purchase invoice.

1099 boxes

This 1099 boxes function (GESBX9) is used to maintain 1099 forms and their applicable box numbers. In order to process 1099s accurately each year the 1099 boxes must match the IRS 1099 boxes. This grid will be loaded with the current 1099 forms, boxes, descriptions, and lower limit amounts per current IRS documentation and updated as necessary in the yearly product update based on IRS changes.

Supplier 1099 box

The Supplier 1099 box function (GESB9M) can be used when a 1099 requires box text to be entered. This will allow you to enter text related to a specific box for each year, company, supplier, form and box, when applicable. It is also used to specify that a supplier had direct sales of $5000 or more.

Suppliers

Within Supplier Categories, the 1099 form and 1099 box controls are available on the Financial section.

The 1099 fields will only be visible on the supplier record if the S1099 activity code is active. The values will be used for defaulting on the supplier record when a new supplier is created.

In the Suppliers function, the 1099 form and 1099 box can be selected for the supplier on the Financials section.

1099 beginning balance

The Supplier 1099 box function (GESB9M) is used enter supplier beginning balances when needed, usually when a company implements 1099 tracking in the middle of a calendar year. This allows you to calculate accurate 1099 balances by entering a single balance for each year, company, supplier, form and box, instead of having to process prior invoices and payments for each supplier. The 1099 forms function includes this beginning balance when it generates 1099s. At year end, the beginning balance amount and the amounts entered throughout the year are combined to determine the amount to report on the 1099.

Processing the 1099 reporting

Supplier BP/Purchase invoices

When creating supplier BP or purchase invoices for 1099 suppliers, the 1099 form and box will default from the supplier. If applicable, you can override the 1099 form and/or box on the header section. 1099 reporting can only be set on the invoice, if the supplier is selected for 1099 reporting. The invoice will also display the Amount subject to 1099. The amount is the sum of the lines with the 1099 flag set to Yes. If the supplier is 1099 reportable, then the 1099 flag will default to Yes on the lines.

Calculate 1099 payments

The Calculate 1099 payments function (BPS1099CLC) is a utility to create supplier 1099 payment records. At year end, the payment records generated during this processing and any supplier 1099 beginning balance amount will be used to determine the amount to report on the 1099.

1099 payment summary

The 1099 payment summary function (BPS1099SUM) is a workbench to summarize the 1099 supplier payment records that were generated by running Calculate 1099 payments. The calculation must be executed prior to reviewing 1099 payment summary. The 1099 payment summary records will be grouped by year, company, supplier, 1099 form and box. This function should also be used to review and edit detail 1099 payment records by selecting Edit 1099 data on a line.

1099 generation

At year end, use the 1099 generation function (BPS1099GEN) to generate and print 1099-MISC and summary form 1096. This function creates an inquiry that can be used to export the 1099 data for use with a third party electronic filing provider. If 1099 inquiry is used to export data, the Excel file must be modified to meet the import requirements of third party providers. Use this function after running Calculate 1099 payments.

1099 activity report

The Supplier 1099 activity report (1099ACT) provides a detailed listing of 1099 payments made to suppliers. It can be used as an audit trail prior to printing the actual 1099 forms. Payments to suppliers are grouped by supplier, 1099 form and box for any range of suppliers.