Vendor Administrator Federal 1099 Print ranges and options

Ranges

Options

Style (1-10) + L(for Laster) e.g. or 6L

You can only print one style of 1099 forms at a time.

Style 6 is the Miscellaneous form and is the only one supported by the system.

Specify one of the other styles if you have developed your own custom routines for them. These are the different types of 1099 forms:

1099-A	Information Return for Acquisition or Abandonment of Secured Property
1099-B	Statement for Recipients of Proceeds From Broker and Barter Exchange Transactions
1099-DIV	Statement for Recipients of Dividends and Distributions
1099-G	Statement of Recipients of Certain Government Payments
1099-INT	Statement for Recipients of Interest Income
1099-MISC	Statement of Recipients of Miscellaneous Income
1099-OID	Statement of Recipients of Original Issue Discount
1099-PATR	Statement for Recipients of Taxable Distributions Received From Cooperatives
1099-R	Statement for Recipients of Total Distributions From Profit Sharing, Retirement Plans, Individual Retirement Arrangements, Insurance Contracts, Etc.
1099-S	Statement for Recipients of Proceeds From Real Estate Transactions

(C)urrent or (P)revious Year's Payments?

Specify C to print total payments to each vendor for the current year. If you decide to print the current year’s payments, you must not have generated the Vendor Administrator Year End Report yet. Year-end processing moves the balances in Payments YTD to Payments Last YTD. The Payments YTD value changes to zero and prevents an amount from printing on the 1099.

Specify P to print total payments to each vendor for the previous year. If you have already performed year end processing, specify P to print the previous year’s payments. This prints the Payments Last YTD values from each vendor record on the 1099 form.

(V)oid, (C)orrected, or (N)either

Specify V to mark 1099s as void.

Specify C to mark 1099s as corrected.

Specify N either to not mark at all.

Generally, do not mark 1099s unless they were sent to the wrong vendors, or mistakes were made when they were originally printed and a corrected version now needs to be mailed.

Note: The Void and Corrected options are only applicable to printed forms, not magnetic tape output.

Minimum Payment Amount

Specify an amount if the vendor's year-to-date payments must reach a minimum balance before a 1099 form prints. If you specify a minimum balance, only those vendors with a Payments YTD balance equal to or greater than the minimum balance will have a 1099 printed.

Leave this field zero to print a 1099 form for every vendor.

(P)rint 1099s, (M)agnetic Media

Specify P to print the 1099s on the proper forms on your printer

Specify M to record them on magnetic media. The IRS generally requires that if you generate more than 250 Form 1099 returns, you must submit them to the IRS on magnetic media. If you specified M for this option, an ASCII file named 1099MAG is created and written to the directory you defined in SA Company Setup as your Print directory.

Note: If you run the Vendor Administrator Federal 1099 Print Report from Distribution SX.e, you must set up the proper record in Vendor Federal Tax Setup before you can print to magnetic media.

Printer for Magnetic Media Report

If you specified M for the (P)rint 1099s, (M)agnetic Media option, specify the printer device you want the Magnetic Media Report sent to. The Magnetic Media Report is a summary of the vendors whose 1099 data is included in the 1099MAG file.

Note: You must set up the proper record in Vendor Federal Tax Setup before you can print to magnetic media.

Export File To Email Address

If you use this report in CloudSuite Distribution, you should specify an email address here. The 1099MAG mag media file is output when you run the Vendor Administrator Federal 1099 Print Report. This file is included as an attachment in an email sent to the specified address. The recipient of the email can save the mag media file attachment to a location accessible to you. You can then send the file to the Internal Revenue Service (IRS) according to your established procedures.

You should restrict access to the Vendor Administrator Federal 1099 Print Report through SA Operator Setup. For example, you enable access to the function for you tax personnel or personnel who deal with outside vendors doing work for you. You should also create a procedure to delete the email after the file has been moved to a directory outside of the cloud or uploaded to the IRS.