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1099 Tax Form Help Dashboard

Distributor steps for prepping 1099 filing in Encompass: fix vendors missing a business type or tax ID and run the 1099 Report of vendors paid over $600. Needs Encompass AP and v23.01+.

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Written by Bailey Naas-Thornton

Minimum Version Required: 23.01

Pre-Conditions

Precondition
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The 1099 Tax Form Help Dashboard is only available for Customers who at least have Encompass AP turned on.

Steps

How to Navigate 1099 Tax Form Help
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1. Using Universal Search, navigate to the 1099 Tax Form Help dashboard
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2. Click the Vendors Without a Business Type tile
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a. This will take you to a view of the Vendors table, fitered by the Business Type field
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b. This view is designed for Users to confirm that all Vendors without a Business Type are accurately set
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c. Enter a value to the Business Type field, if needed
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3. Navigate back to the 1099 Tax Form Help dashboard
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4. Click the Vendors Without a Government Tax ID tile
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a. This will take you to a view of the Vendors table, filtered by the Government Tax ID field
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b. This view is designed for Users to confirm that all Vendors without a Government Tax ID are accurately set
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c. Enter a value to the Government Tax ID field, if needed
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5. Navigate back to the 1099 Tax Form Help dashboard
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6. Click the 1099 Report tile
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a. Once the Business Type and Government Tax ID fields are confirmed, the Vendors who need a Form 1099 filed are displayed in the report
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b. Any Vendor who has been paid over $600 will be displayed on the 1099 Report - this is additionally filtered by the 1099 status of the payments

c. Users can export this report for their convenience
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7. The 1099 Filing Website is a suggested third party website used for creating and filing Form 1099s

a. You may use the data exported from the Encompass 1099 Report to generate Form 1099s and File them on this website
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b. This is simply a suggestion, and Encompass has no affiliation with Efile4biz by Formstax

Fields And Definitions

Vendors.Is1099Vendor - defines if any TransType = Accounts Purchase from this Vendor will default to Is1099 = True

Purchases.Is1099 - flag to show 1099 status of a TransType = Accounts or Payment Purchase. Using a Check Run to pay a Purchase with Is1099 = True creates a Payment with Is1099 = True

Best Practices

  • Additional tools on the 1099 Help Dashboard include the ‘Manage Vendors’ tile (a shortcut to the Vendors table) and the ‘About the 1099’ tile (a shortcut to the IRS website where you can learn more about about Form 1099s)
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- This IRS web page explains scenarios in which Form 1099s must be filed. Any revisions to the Form 1099 are also displayed, as well as any recent developments
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  • The 1099 Tax Form Help Dashboard is only available for Customers who at least have Encompass AP turned on
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  • The 1099 Tax Form Help Dashboard is simply a tool that will assist companies in gathering the data used for filing Form 1099s
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  • The suggested 3rd party website efile4biz by FORMSTAX may be used to electronically file Form 1099s to the IRS

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