Produce a vendor 1099 report

Please consult with your CPA, licensed tax professional or www.irs.gov for guidance on the issuance of the Form 1099-Misc. Inform provides the means to qualify vendors and quantify annual payments only.  The forms themselves must be produced independently. Follow this process to categorize, manage and report on vendors requiring a Form 1099-Misc. The production of a report does not generate any transactions or create actual 1099’s.

Define a 1099 vendor

1. Go to Accounting > Accounts Payable > Vendor Ledger > Setup to define a new vendor.
2. On the General tab, select the Issued 1099? check box.
3. Click Save.

Create a 1099 report in Vendor Master

The Report feature is available in numerous system files such as customers, vendors, products and G/L accounts. Use it to create instant, customized and exportable reports.

1. Go to Accounting > Accounts Payable > Vendor Ledger.
2. Click the Report button and bypass Criteria Options so that all records are initially selected.
3. Click Additional Criteria and Add Criteria.

   

4. Choose the field called 1099 Vendor, as shown below, and set the value equal to “Y.”
5. Click OK to proceed to the Field Selection window.
6. In Available Fields, hover over a Description to view a definition
7. Select a field to add to the report Print Order on the right.
8. Click and drag to rearrange the order of fields.
9. To remove a field, click the “X” to the right of the record.
10. To start over, click the Reset button.
11. When the report design if complete, click OK to view, print or export the report.

Following is a report exported to Excel with formulas added to calculate the totals.  The “YTD Paid” field contains the payments requiring a Form 1099-Misc for a calendar year.

Retrieve a 1099 report from Vendor Master

1. The system will store the report field selections for reference the next time it is requested.
2. The criteria must be reset each time the report is requested.
3. This report may also be built, run and scheduled through Advanced Report Writer.

Use Advanced Report Writer to create a vendor 1099 report

Please note that Advanced Report Writer training requires a scheduled consultation. This procedure provides guidance on building an unformatted report for export to Excel.

1. Navigate to Analytics > Advanced Report Writer.
2. Click New to start building a new report.
3. Choose the VM (Vendor Master) file as the primary file.
4. Choose Export Option: Without Layout.
5. Set the Criteria to 1099 Vendor Equal To Y. The results will be limited to vendors defined in vendor master as 1099 receivers.
6. Add the appropriate fields in Report Fields. When running the report for a previous calendar year, the Last Year Payments field will report the appropriate values for issuing 1099’s.
7. Click Save before running the report.
8. Click Run Report. The system will open a window in your own network environment.
9. Save the content in .csv format. The report will open on the screen in Excel.
10. Refer to the sample report specifications below.