Set up 1099 supplier information

Set up any supplier as a 1099 supplier and have Sage Intacct track 1099 totals for printing on 1099 forms. If you’re setting up a supplier mid-year, or for prior years, enter initial values (historical year-to-date amounts). After you set up a supplier for 1099 treatment, each transaction you create against that supplier is tagged with a 1099 form type and 1099 box per line item.

Do you need to update 1099 information for an existing 1099 supplier?

Add 1099 information for a supplier

If you edit 1099 information for a supplier with existing transactions, you can update these transactions to the new form and box. You can also add initial values (historical year-to-date amounts).

  1. Go to Accounts Payable > All > Suppliers and select Add or Edit next to the appropriate supplier.
  2. On the Additional information tab, enter the supplier 1099 name as it should appear on 1099 forms.

    If you enter a 1099 name that's different than the Print as name, both fields print on the 1099 form with the 1099 name printed on top. If both names are the same, only one name prints.

    If you're using a specific 1099 contact that's different from the primary supplier contact, the name for this contact prints instead of the Print as name.

  3. For existing suppliers, go to the Additional information tab and select the Form 1099 link.

    If this is a brand new supplier, select the 1099 eligible checkbox, then select Save.

    The Form 1099 information with default box page appears.

  4. Select the appropriate 1099 form from the Form name drop down.
  5. Select the appropriate default 1099 box where payments to the supplier should be tracked.

    Do you need to enter initial values that need to be carried over from a previous system?

  6. Select Save on the Form 1099 information pop-up.
  7. Select Save on the supplier record.
  8. If the supplier has existing transactions in Intacct, a pop-up appears where you can update existing transactions to the new form and box.

    Select one of the following:

    • Update all transactions for this supplier for the current year only based on modified 1099 information.

    • Update all transactions for this supplier for the current and prior year based on modified 1099 information.

    If you do not want to update transactions, select Don't update previous transactions.

    Then, select Save.

Enter information for other Form 1099 boxes

Some information that's required on a 1099 form might not be available in Sage Intacct for tracking at the transaction level.

For example, on the 1099-NEC form, box 6 contains information that's not available in the Intacct. Consequently, blank fields are provided on the Form 1099 information with default box pop-up window where you can provide this information.

Field descriptions

The following information describes the fields on the Form 1099 information with default box page.

Field Description

Form name

Assign a default 1099 form for this supplier or employee. Transactions created for this supplier or employee will be tagged with this form.

To remove the 1099 status for a supplier, select None.

Default 1099 box

Select the default box which to which transactions for this supplier or employee will be tracked.

Entity

If you're entering initial open balance (historical YTD) amounts, select the entity to which they pertain.

This field only appears at the top level company if your multi-entity structure is configured to Issue a separate 1099 per entity.

Initial values for year

Choose the year for which you’re entering initial open balance (historical YTD) amounts.

If you’re setting up your Intacct books with a start date after January 1st, you probably need to set up starting YTD balances for each 1099 eligible supplier or employee. You might also want to enter values for prior years. You obtain these balances from your old accounting system.

  • To enter YTD balances for this year, accept the default date of this year found in the Initial Values for Year dropdown list.
  • To enter values for a prior year, select one of the prior years available in the dropdown list. Then, enter the starting YTD balances in the blank fields.

Future amounts are added to the amounts, if any, you enter here.

Remember to only enter the calendar year-to-date 1099 balance for each supplier(which can be different from the entire amount paid to that supplieryear to date). In addition, if your company is on a fiscal year that doesn’t correspond with the calendar year, you need to back out payments made to that vendor during the prior calendar year.

This process varies depending on whether Issue a separate 1099 per entity option is selected or not. When Issue a separate 1099 per entity is enabled, initial YTD amounts are entered at the top level or entity level for the entity. In this mode, suppliers in subordinate entities are assigned entity-specific initial amounts, even if they use the same supplier. If not selected, initial amounts for all suppliers and all entities are entered at the top-level entity.

Confirm 1099 updates pop-up window

Appears if you updated a default form or box for a supplier that has existing transactions in Intacct. This process only updates transactions already tagged for 1099-treatment. Learn how to update non-1099 transactions and flag them for 1099 treatment.

Field Description

Update all transactions for this supplier for the current year only based on modified 1099 information

Update all associated transactions tagged for 1099 treatment. This updates transactions for the current year with the new 1099 default form and box.

Update all transactions for this supplier for the current year only based on modified 1099 information

This updates all associated transactions tagged for 1099 treatment that were paid in the current year and prior year. For example, if its January 2022 and you select this option, transactions paid in 2021 and 2022 are updated.

Don't update previous transactions

Do not update existing transactions to the new 1099 default form and box.