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Sage Intacct 1099 Frequently Asked Questions (and Advice)

Sage Intacct 1099 Frequently Asked Questions (and Advice)

With the 1099 season upon us, we’ve compiled a list of frequently asked questions to help you tackle all of your 1099 forms and reporting.

Question 1: Where can I get 1099 forms?

1099 forms can be purchased at http://www.formsforintacct.com.  Navigate to Tax Forms and Envelopes, then select the appropriate forms to view details and/or purchase.

Question 2: How can I change a 1099 amount for a vendor?

To update/change a vendor’s 1099 amount:

  1. Select Accounts Payable from the top navigation bar.
  2. Click Vendors.
  3. Edit the appropriate Vendor record.
  4. Go to the Additional Information tab.
  5. Click on the Form 1099 link within the Vendor Details section (note: this only appears in edit mode).
  6. Select the correct Form Name from the drop-down menu provided.
  7. Select the Default 1099 Box.
  8. Choose the correct 1099 year from the drop-down menu: Initial Values for Year.
  9. Enter the amount you would like to add to or subtract from the vendor’s current 1099 balance in the correct Form 1099 Box (es) 1-18. (A positive number will increase the vendor’s 1099 amount, while a negative number will decrease the vendor’s 1099 amount).
  10. Save when complete.
  11. Save the vendor record.

Question 3: What do I do if my 1099 report is missing a bill or is blank for a vendor?

Verify that the vendor is configured for 1099 eligible:

  1. Go to Accounts Payable from the top navigation bar.
  2. Select Vendors.
  3. Edit the appropriate Vendor record.
  4. Go to the Additional Information tab.
  5. Click on the Form 1099 link (note: this only appears in edit mode).
  6. Review the Form Name field and confirm there is an option selected.  If there is no form selected, choose the appropriate option from the drop-down menu provided.
  7. Validate there is a Default 1099 Box selected.  If there is no Default 1099 Box selected, choose the appropriate option from the drop-down menu provided.
  8. Select the correct 1099 year from the options listed for Initial Values for Year.
  9. Next, confirm the value(s) listed for the vendor’s 1099 amounts.  Enter any additional values for the vendor’s 1099 amount in the appropriate box (es) or the amount to be shown on the vendor’s 1099 form.
  10. Save the Form 1099 screen
  11. Save the vendor record.

If the vendor is properly configured for 1099 already, then verify the following:

  1. The bills for this vendor do have the 1099 box checked as true.
  2. Ensure that the Paid Date of the bills resides in the correct 1099 year – the 1099 amount appears in the year it was paid.
  3. Confirm the 1099 amount is over $600.

Question 4: What if I incorrectly tagged a line item on a bill as 1099 eligible?

Edit the transaction if it hasn’t been paid or partially paid. If payment was made, you can reclassify the transaction.

Question 5: My 1099 forms aren’t printing correctly. How can I fix this?

Align your printer to your 1099 form:

  1. Go to Accounts Payable > 1096/1096 > Form 1099.
  2. Locate the section Printing Offsets (in inches).
  3. Start by testing out the recommended print settings:
      • Vertical Alignment (from top): 0.69
      • Horizontal Alignment (from left): 0.86

You can change the vertical and horizontal alignment of the image relative to the paper form for precise alignment.

The offset is measured in inches.

  • To move the text down, enter a negative number in the Vertical Alignment box.
  • To move the text up, enter a positive number in the Vertical Alignment box.
  • To move the text to the left, enter a negative number in the Horizontal Alignment box.
  • To move the text the right, enter a positive number in the Horizontal Alignment box.

If for some reason the data does not align with the pre-printed tax form, use the instructions above to manipulate where the data is printed.

When printing a 1099 form, select these options for your printer:

  • Set page scaling to none or Actual Size.
  • If checked, clear the rotation box.

Question 6: If I have 1099 eligible line items on inter-entity transactions, which entity issues the 1099?

The 1099 is issued by the entity that owns the bill.  The reason the payment is recorded on 1099s for the entity where the bill resides, not the paying entity, is that entity is responsible for the bill payment and inter-entity transactions are created for the payment.  Simply: Because the paying entity is reimbursed by the entity that owns the bill, via inter-entity transactions, the owning entity issues the 1099.

Example:
User creates bill # ABCDE in Entity A.
User pays the bill from Entity B.
Inter-entity due to/from are generated between Entity A and Entity B.
Thus, Entity A issues the 1099 for bill # ABCDE.

Question 7: Can I print 1099s at the Top Level?

At the top level, you can print a combined 1099 for all the entities using the federal tax ID and address of the top-level company, or issue separate 1099s per entity. At the entity level, you can print 1099s on an entity-by-entity basis using the tax IDs and addresses of the individual entities.

If you have any additional questions about 1099s, please log a support case at support@brittenford.com.

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