Print 1099-MISC
The 1099-MISC features also allow users to manually enter vendor payments, when required. 1099-MISC (Miscellaneous Income tax forms) are typically used for any vendor without a tax ID using a social security number as identification, to include LLCs, sole proprietors, and non-corporations. As per the IRS, 1099-MISC forms are used for the following:
- Each person to whom you have paid at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest
- At least $600 in rents, services performed by someone who is not your employee, prizes and awards, other income payments, and medical and health care payments, etc.
- Generally, the cash paid from a notional principal contract to an individual, partnership, or estate.
Click the following link for more information: Form 1099-MISC
Before utilizing the Print 1099-MISC module, it is recommended that you run the 1099 Vendor Report via Purchasing/Accounts Payable > 1099 Vendor Report.
1. In the Purchasing/Accounts Payable menu, click Print 1099-MISC.
2. Before printing 1099s from the Print 1099-MISC tab, click the Input Vendor Payments tab for additional vendor payments.
3. The Tax Year defaults to the current fiscal year. If you need to change it, select the correct year from the pull-down.
4. Select a Vendor from the pull-down.
5. Enter the Amount, and any Comment(s) pertaining to the payment.
6. Select the 1099-MISC Box in which this information should be displayed once printed from the pull-down, such as F - State Tax Withheld.
7. Press the Enter key to save the entry.
Inputting vendor payments only applies to district accounts, not internal accounts. Focus internal account purchases will be included automatically.
If two vendor numbers have mistakenly been created for one vendor, you should be sure to flag only one vendor. The payments can then be combined on the Input Vendor Payments screen.
8. Click Import to import vendor payment information stored in an Excel spreadsheet or CSV file.
a. Select the file, and click Open.
b. In the Import CSV pop-up window, ensure the columns match the headers. Use the header pull-downs to ensure the correct column is selected.
c. Click Import CSV.
The imported information displays automatically after being imported.
Click the pull-down or the text fields to edit data.
Click the delete button (red minus sign) to delete the vendor payment.
9. Add as many vendor payments as needed.
Note the Page Total and Grand Total in the last rows.
Before utilizing the Print 1099-MISC module, it is recommended that you run the 1099 Vendor Report via Purchasing/Accounts Payable > 1099 Vendor Report.
1. In the Purchasing/Accounts Payable menu, click Print 1099-MISC.
2. The Tax Year defaults to the current fiscal year. If you need to change it, select the correct year from the pull-down.
3. Enter the Tax ID in the provided text box. The Tax ID defaults to data entered via Setup > Settings > Miscellaneous tab.
4. Select a specific vendor from the Vendor(s) pull-down or print 1099-MISC with the default of All Vendors whose payment is greater than or equal to $600.
5. Select the Correction check box to indicate that this is a correction form.
6. Select whether to Include all vendors marked 1099 or whether to Only show vendors with manual payments using the corresponding check boxes.
Notice that selecting either of these check boxes will cancel out any selected vendors and the Vendor(s) pull-down will no longer display.
7. Select a Paper Type from the pull-down.
Select Form 1099-MISC if you have pre-purchased 1099-MISC form paper for printing. Selecting this option generates a PDF that will not include grids and form data.
Select Letter (Copy B Recipient) to generate a recipient copy that will include all grids and 1099-MISC data. Select this option if printing on plain white paper.
Select Letter (Copy C Payer) to generate a paper copy that will include all grids and 1099-MISC form data.
Select Z-Fold to removes the option to print Two Per Page selected from the Special Format pull-down because Z-Fold forms require two 1099-MISC forms for the same vendor on the same sheet.
a. If you select Letter (Copy B Recipient) or Letter (Copy C Payer) from the Paper Type pull-down, you also have the option to select the Print Instructions check box to print the instructions from the IRS directly after the 1099. Printing instructions is required when printing on blank paper.
8. Select Two Per Page from the Special Format pull-down to print two copies per page. Otherwise, select N/A.
9. Select the order in which you want information printed from the Sort Order pull-down, such as Vendor Number, Vendor Name, etc.
When doing any kind of printing, do not scale to page. It is best to use the Chrome print dialog or Adobe Reader.
10. Once all of your selections have been made and the form has been set for printing, click the Submit button.
Clicking Submit generates a pop-up print preview screen. From here you will be able to print your forms.