Sage Intacct: ‘Tis the Season … for 1099’s

• December 7, 2022
• Kathy Jastrzebski

1099 season is almost upon us and while most of our Frequently Asked Questions are still applicable this year, there is one exciting update to share. From our 2019 FAQ:

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.

The update:

Yes! The TaxBandits integration is now available, allowing you to e-file directly out of Sage Intacct.

While the IRS will begin accepting 1099 e-filing submissions for the 2022 tax year on January 6, 2023, you can send the batch file from Intacct to TaxBandits in advance to get a head start. In this blog post, we’ll discuss how to integrate with TaxBandits and send your first batch.

Prepare to e-file:

1. Subscribe to Sage Cloud Services in Sage Intacct: Company > Admin tab > Subscriptions > Sage Cloud Services
2. Enable TaxBandits configuration in AP: Accounts Payable > Setup tab > Configuration
3. Set up a TaxBandits account: Create an account here and find more information about administering your TaxBandits account here.
4. Update permissions: Company > Admin tab > Roles > Subscriptions > Accounts Payable > Form 1099 Run

Create a batch to send to TaxBandits:

1. Make sure you have validated 1099 reports (amounts, box, form, vendors, addresses) prior to submitting batches to TaxBandits. You can find more information on how to run 1099 reports here.
2. Create a batch: Accounts Payable > All tab > E-file Submissions > click Add button
3. Select the tax year, form, and optionally filter for a vendor > click E-file
4. A pop-up will display a list of vendors and amounts. At this point, you can download the file for reference, then click E-file. Upon clicking E-file, you will be redirected to the TaxBandits website.
5. Once signed in, you’ll accept TaxBandits Privacy Policy and Terms (at the bottom of this page).
6. You’ll then be re-directed to Intacct where you can click to refresh to view the status of your submission.
7. If, like me, you receive an error on your first try, view the error under the action hyperlink and make the required changes (in my example a missing company address). Then, resubmit the batch.
8. Once you’ve received the success message for your batch, we can move to TaxBandits to complete the submission.

E-file in TaxBandits

Once all batches have been processed and any updates have been made, you can complete e-filing in TaxBandits. From Sage Intacct:

After 1099 information is correct and accurate in TaxBandits, submit the batch to the IRS. You have the option to mail paper copies to recipients or grant them online access to view forms. You also have the option for state.

TaxBandits will email you when the IRS receives your 1099 forms. Check the status of your e-file submission in your TaxBandits account. You can view and manage submitted forms from the Dashboard area.

What’s next?

Read up on all prior 1099 blog posts and watch our latest webinar:

• Blog: Preparing for Filing 1099’s with Intacct
• Blog: 1099’s are on the Horizon!
• Blog: 9 Frequently Asked Questions: 1099’s
• Blog: Updating Vendors for Form 1099-NEC
• Webinar: ‘Tis the Season for 1099’s … Again

Questions? Reach out to your Sage Intacct team!

Tags: 1099, 1099 Forms, ap bills, TaxBandit, Accounts Payable, New Releases and Updates | No Comments »