This article documents how to setup and process 1099s for vendors. 

The 1099 form is a series of documents the IRS refers to as "Information Returns". There are a number of different 1099 forms that report various type of incomes.

ERP currently provides 1099-MISC (Independent contractor income), 1099-DIV (Dividends income) and 1099-INT (Interest income).

1099 Box Setup

This 1099 Box will indicate which type of 1099 form and which type of income the vendor is setup for.

For example: the 1099-MISC form has a number of different types of miscelaneous incomes such as Rents, Royalties, Other Income, Federal Income Tax Withheld, etc...

Each type of income was assigned to a box number on the form by the IRS.

For example:

1099-MISC for Rents will be printed in box number "1".

1099-MISC for Royalties will be printed in box number "2".

1099-MISC for NonEmployee Compensation will be printed in box number "7".

ERP currently provided an up to date list of 1099 box types for 1099-MISC, 1099-DIV & 1099-INT.

1. Navigate to Master > Payables > Vendor 1099 Box.
   
   
2. Click on the 1099 Box ID elipsis button.
   
   
   
   
   
   
3. Click on Retrieve button. 
   
   
   
   
   
   
4. The system will display a list of existing 1099 box Type IDs. Select the type of income that is appropriate for the vendor.
   
   
   
   
   
   
5. Click Add.
   
   
6. Click Save.
   
   
7. Click Close.
   
   

From time to time, the IRS will add new box for new type of income. That means that new developments will be needed to add the new box to the form. To add new 1099 box:

1. Type in new 1099 Box ID > Specify 1099 box number > Set up Comment/Description for the new 1099 type ID.
   
   
   
   
   
   
2. Click Add.
   
   
3. Click Save.
   
   
4. Click Close.
   
   
   

1099 Type Setup

There are a number of different 1099 forms to report various type of incomes.

ERP currently provides 3 different types of 1099 - 1099-MISC (Independent contractor income), 1099-DIV (Dividends income) and 1099-INT (Interest income).

If another 1099 form needs to be added to the ERP, it will require new developments for the form. To add new Vendor 1099 Type:

1. Navigate to Master > Payables > Vendor 1099 Type.
   
   
   
   
   
   
2. Click on the Add button.
   
   
3. Type in new 1099 Type ID.
   
   
4. Type in new 1099 Type. 
   
   
5. Type in new Comment.
   
   
6. Click Save.
   
   

7. Click Close.
   
   

1099 Vendor Setup

To set up a vendor to receive 1099 forms:

1. Navigate to Master > Payables > Vendor.

   
   
2. Select your Vendor > Click OK.
   
   
3. Check the 1099 Vendor check box. 
   
   
4. Select the Default 1099 Type - MISC, DIV or INT. Eventhough this 1099 type is set to default, it can be changed at the vendor's voucher level.
   
   
   
5. Select the Default 1099 Box - default 1099 type of income for the vendor. Again, this 1099 box is set to default, but it can always be changed at the vendor's voucher level.
   
   
   
   
   
6. Click Save
   
   
7. Click Close

Assign 1099 info on Vouchers

1099 Reports

1099 Forms

1099 Electronic Files