9 Frequently Asked Questions: 1099’s

• January 25, 2019
• Kathy Jastrzebski

1099 season – everyone’s favorite time of year, right? Just as the season makes its annual appearance, as do the 1099 blog posts. While we’ve certainly covered this topic in previous posts (even more than once!), this year’s take is brought to you by the top questions we’ve received from Intacct users reaching out to us via support.

1. The 1099 checkbox on AP Bills is not selectable, how do I fix that?

This is a result of not completing the 1099 enrollment on a vendor’s setup. A vendor’s 1099 setup is easily update-able by following these steps:

1. Go To: Accounts Payable > Vendors
2. Search: for the Vendor that needs to be updated and click Edit
3. Select: the Additional Information tab and click the Form1099 hyperlink

4. Select: the Form Type and Default Box (for example, MISC form and box 7)
5. Click: Save! and Save (again) on the Vendor.

Bonus: While updating the vendor’s 1099 status, if transactions exist in Intacct, the first radio button in the below prompt allows for updating those existing transactions.

2. Can I update the 1099 box for a vendor while adding a new bill?

Yes, Intacct gives you the ability to add and modify dimension records on the fly in transactions screens. However, in order to apply those changes to your current transaction, you’ll need to either draft the bill and come back to it, or refresh the AP bill page (which will lose any lines you may have added).

3. We implemented Intacct mid-calendar year. How do I update the Intacct initial Vendor 1099 values for those transactions which were recorded in my historical system?

If there are numerous Vendors to be updated, the most efficient method would be (you guessed it!) an import. To do this, you’ll need to download, populate, and import the 1099 Beginning Balances Template:

1. Go To: Company > Import Data (or Company Setup Checklist in the old UI)
2. Under AP Section: Select Template next to Vendor 1099 Opening Balances

3. Populate: the template with the Vendor ID, Form Type, Box, Amount and save it as a CSV.

4. Go Back To: the Company Setup Checklist and this time click the Import link next to Vendor 1099 Opening Balance.

Note: This template does not update a vendor’s 1099 status. The Vendor must first be updated (via import or manually) as a 1099 Vendor before beginning balances can be imported.

Need a little more help with imports? We’ve got you covered!

4. So then how exactly do I update 1099 Vendor Status via import?

Create a 1099 list view of Vendors and their respective 1099 information. Then export that file and import an update.

1. Go To: Accounts Payable > Vendors
2. Click: Manage Views > Create New View
3. Select: Choose the fields you’d like to display in the view
– Vendor ID
– Vendor Name
– Form 1099 Type
– Form 1099 Box
– 1099 Name (optional)

4. Follow: the wizard through the steps to optionally organize the column order, filter, and sort. Then save your view as “1099 Vendor Information”
5. Once you’ve saved your view: select it by clicking the All dropdown > 1099 Vendor Information (or your list view’s name)

Once you have a list view, I’d dare you to choose the option to Export “CSV for Import” and notice the column headers all have the appropriate required headers for you to easily update and then import the same file back to Intacct!

Bonus: Curious where else you might be able to implement custom list views? No? Ok, then don’t click here.

5. How do I make sure my 1099’s are correctly aligned?

1. Go To: Accounts Payable > Reports > Select 1099/1096 > Select Form 1099
2. Locate: the section titled Printing Offsets (in inches).
3. Default: print settings are:
– Vertical Alignment (from top): 0.67
– Horizontal Alignment (from left): 0.80

4. When printing 1099s: when the box comes up to select your printer:
– Page Scaling should be set to None or Actual Size.
– Auto Rotate should be unchecked.

Note: Intacct only fully supports 1099 forms purchased from their supplier. The alignment recommendations above apply to only these forms. If purchasing from another supplier, at the very least compare the form to Intacct’s to avoid finding yourself in a pickle.

6. Can I e-file through Intacct?

If your business files more than 250 1099’s you are required by law to e-file. However, those under that requirement often still prefer to e-file. Intacct does not offer e-filing directly in the product, however, many Intacct clients use an integrated application such as Tax1099.com available on the Intacct Marketplace.

7. How do I run the 1099 report?

1. Go To: Accounts Payable > Reports > Select 1099/1096 > Select 1099 Reports
2. Select: The Prior Year reporting period and the 1099 Form Type
3. View: the report!

8. Great! Now, what format does the 1099 report export to?

The 1099 report can be exported to Word, Excel, CSV, and Text formats.

9. I’ve heard I can import to update 1099 information. Where do I find the template and how do I do it?

The Vendor 1099 Transaction Update can do two things:

• Update historic transactions within Intacct that may not have been tagged as 1099 but should have been. (The 1099 checkbox on a transaction).
• It can also be used to update Vendors with their 1099 type, box, and name.

So where do I find it and how do I use it?

1. Go To: Company > Import Data (or Company Setup Checklist)
2. Find: the Vendor 1099 Transaction Update template
3. Populate: the template, save as CSV, and import

Below is both an example of a sample populated file as well as a cheat sheet from Intacct on the various ways the file can be populated and the related results.

What’s Next?

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Tags: 1096, 1099, 1099 Forms, ap bills, Vendors, Accounts Payable | 5 Comments »