Step-by-step guide to supplier 1099s

Below is an overview of the steps involved in the 1099 setup and printing process. When you're ready to print, read this checklist to make sure that forms print correctly and with the correct information.

The basic 1099 process overview looks like the following:

Step 1. Configure your company for 1099s

Decide how to tag transactions and how to issue 1099s in a multi-entity environment.

Override the form and box at the line level

In Step 2, you assign a 1099 form and box to each supplier or employee which applies to transactions created after that point. If overrides are allowed, you can change the form and box for individual line items when you're creating the transaction.

You can also choose to include or exclude specific line items from 1099 calculations. If your company is set up for line-level overrides, Intacct automatically assigns amounts to the selected 1099 form and box during transaction entry.

1. Go to Accounts Payable > Setup > Configuration.

   Or, depending on where a transaction originates, go to Purchasing > Setup > Configuration or Expenses > Setup > Configuration.

2. In the 1099s section, select Enable 1099 flag override and Enable 1099 form and box override.

3. Select Save.

Issue separate 1099 forms for entities

Decide if you'll file 1099s using top-level company information or entity-level information. You can configure your company to print 1099s with entity-level information instead of top-level.

This means the following:

• 1099s print with the legal name, address, and VAT registration number of the entity, even if they’re printed from the top-level.
• If two entities pay the same supplier, the payments from each appear on separate 1099 forms.

1. Go to Company > Admin > Subscriptions.

2. On the Subscriptions page, select Multi-Entity Management, then select Configure.

3. Select Issue a separate 1099 per entity.

4. Select Save.

Learn more about printing 1099s in a multi-entity company. Or, take a deeper dive into how to print forms for different multi-entity scenarios.

Step 2. Set up suppliers and employees for 1099 tracking

You can set up any supplier or employee to track totals on 1099 forms. If you're setting up a supplier or employee mid-year, or for prior years, enter historical year-to-date amounts so that amounts balance at year-end.

Step 3. Tag transactions for 1099 treatment

Transaction line items are automatically tagged for 1099 tracking only if the supplier or employee is set up for 1099 treatment. If your company allows overrides, you can mark a transaction as 1099 or non-1099, or adjust the form and box during entry.

Intacct generates 1099 information for transactions that meet the following criteria:

• Tagged for 1099 treatment.

• Paid in the same year covered by the 1099.

• Exceed the minimum reportable amount.

Step 4. Run the 1099 report

Before you print tax forms, preview information by running the 1099 report. Then, correct any issues.

Make sure to check the following:

• Verify that you set up your suppliers with the correct 1099 form.
• Review the amounts paid to 1099 suppliers for a specific year.

1. Go to Accounts Payable >All > Reports > 1099 > 1099 report.
2. Run the 1099 report.

Correct 1099 issues

If you generate the 1099 report and discover issues, you can update 1099 information as necessary. You can also change the status of a supplier or change the status of an employee from 1099 ineligible to eligible (or vice versa). Then, have Intacct automatically update all associated transactions.

Step 5. File forms

Depending on how many forms you have to file, you can file electronically or manually.

File electronically

If you're filing 1099s for more than 10 records, tax law requires that you file electronically. It's recommended to electronically file with TaxBandits.

Or, contact one of our Sage Intacct Marketplace partner services that specialize in printing, mailing, and filing 1099 forms electronically. You'll need to create and export a 1099 file, then upload it with one of the Marketplace partners.

File manually

If you have fewer than 10 records to file, you can order forms and print and mail information yourself.

Tax forms are updated each year. Purchase the latest forms for the upcoming tax season at intacct.dsa-direct.com. You also can find a link to this supplier from the Cheques & Supplies center, which you can access from the Help Center.

These tax forms are perfectly aligned for printing and the only ones that we support. Tax forms purchased from office supply stores or other suppliers are not aligned for printing from Sage Intacct.