The Ledger : 1099s

The Great and Powerful Wizard

Jennifer Maroney — Tue, 10 Nov 2009 20:23:00 GMT

Amounts? And Information? And Tax Forms. Oh my! Don't feel like the Scarecrow when it comes to correcting your 1099s and W-2s. Go see [speaking in a booming voice into a microphone] the great and powerful Wizard of 1099s and W-2s for help.

Our brand new 1099 and W-2 Wizards are easy-to-use interactive help pages to take you step-by-step through the process of correcting all information and box amounts on 1099 and W-2 forms. They even have examples and screen shots! It's almost like having a Support analyst right there in your office helping you make the correction.

To use the wizards, simply open the 1099 Wizard or W-2 Wizard, hover over the box to adjust, click, and follow the steps. It's that easy!

Have you used the 1099 or W-2 Wizard? Share your experiences and feedback by leaving a comment. Talk to you soon!

Vendor Address Accuracy

Geoff Sharbrough — Fri, 07 Aug 2009 13:42:00 GMT

Do you have a vendor that does business under one name but wants their checks made out to a different name or a vendor that has multiple addresses? Track addresses and additional pieces of information on the often overlooked Addresses tab on the vendor record.

You can update an existing address or click on New Address if a vendor wants a different address to print on the check. Enter a description that you can recognize on the General tab, as this will show on the remit to field for an invoice or any record that has a vendor address field. Then enter the address that you would like to print on checks or mailings to the vendor.

Moving on to the Options tab, specify the vendor’s requested name for payments. If this field is left blank, the vendor name will default to what is on the Vendor tab. You can also check the boxes to make this the default address for invoices, purchase orders, as well as the primary address for the vendor. On this tab, you can also enter an alternate name for 1099 forms.

The Contacts tab allows a specific contact for the vendor. Contact information that is added here will then show on the Vendor tab of the vendor record. Finally, click OK and save the vendor record.

Now your vendors can be happy to have their checks written to their desired contact.

Advanced Query & Export or.....State Tax Reports for 1099 Vendors.....

Daniel Dalnekoff — Thu, 02 Apr 2009 18:38:00 GMT

Was I able to get your attention from this title? Hopefully so...

At the 2008 Conference, I taught an FE Query & Export session. Most of the attendees really enjoyed some, or maybe a little, of the content so I want to build on it here. Recently a client needed to file a state form each time a vendor's total 1099 payments for the year exceeded a certain dollar amount. So what we need to do is find who has gone over the limit in the current tax year and have a record of the form being sent in or not.

Let's pretend it's January 1st and the state needs to be notified when the payments exceed $500.00. Begin by adding a Vendor attribute such as State 1099 submitted and make it a yes/no field. Globally add this to all vendors with a value of "No", indicating that nobody has had their form submitted.

Build a vendor query. On the Criteria tab, add 1099 activity greater than or equal to 500 and set the date filter to this calendar year AND add Vendor Attribute State 1099 submitted equal to No. On the Output tab, add some output fields for your reference and to spot check the results. Now, decide how often to run the query, for example monthly or every Friday afternoon.

There are two options from here:

Run the query, and print the results. Use the list to fill out your required forms. Then use global change to change the records in the query to change the attribute to Yes.

Open Mail, Labels, Cards, and Envelopes, and create mailing labels. On the Filters tab use the query to filter the vendors to only list the vendors who need the form submitted. On the Processing tab, select to change the State 1099 submitted attribute for all records included from No to Yes. Print the labels. Now you have your vendors listed to create the forms for and a mailing label to send a nice letter to let the vendor know the form was submitted.

So, there you have it. Now, I challenge you to submit how you use Query & Export or, even better, how you would like to use these tools.

The Ledger Lowdown: Print Your 1099s

Jennifer Maroney — Wed, 07 Jan 2009 14:08:00 GMT

In the Simplify Your January post, I covered how to review and correct your 1099 information. Once you've made all of your corrections, printed test 1099s to verify all information, and defined your organization's Federal Identification Number, you're ready to print 1099s.

In Mail, Forms, highlight 1099 Forms and click New.
Select the appropriate year in the Generate 1099s for field.
Enter the contact information and select the remaining appropriate options.
Select the Filters tab and define the appropriate filters.
Select the Attributes tab and enter attribute actions, if applicable.
Select the Format tab.
Highlight Detail, select the number of copies to print, and mark the Collate or Do not print 1096 box totals on the last 1099 forms checkboxes, if appropriate.
Click Preview or Print/Create.

Remember, if you need to order 1099 forms, contact Blackbaud Forms at 866.422.3676.

Happy 1099 Season! Talk to you soon.

The Ledger Lowdown: Simplify Your January...Start Preparing Your 1099s Today!

Jennifer Maroney — Wed, 10 Dec 2008 13:47:00 GMT

I'm sure all of you know that the end-of-year is almost here and tax season is right around the corner. Yeah?? What would you say if I told you there's a way to prevent the month-long headache and limit your stress in January? (Now you know I can't guarantee to eliminate all of your stress; it is tax season after all!) If you start preparing now by verifying vendor addresses, amounts, 1099 tax settings, and tax IDs, you'll be ahead of the curve and have 90% of the 1099 process complete. This way when January rolls around, all you'll have to do is print . Let's get started.

The first step is to verify and correct 1099 vendor activity:

Create a 1099 Activity Report.
Create a query for all activity above the 1099 box minimums for vendors during the last year. Make sure you include the 1099 box on the Output tab.
Compare the activity amounts on the report to the query to ensure all activity has been marked as 1099 appropriately.
If the 1099 amount on the 1099 Activity Report is incorrect or there are vendors with activity above the box minimums missing, adjust the 1099 amounts.
Note: For vendors missing from the 1099 Activity Report, make sure they are marked as 1099 vendors with a default 1099 distribution. This will ensure your vendors will track 1099 activity correctly for 2009.

Once you verifiy and correct the 1099 amounts, its time to test your 1099s to make sure vendor personal information is correct.

Print test 1099 forms to blank paper. This will let you verify the information in each box without wasting forms.
Review all information on each 1099 including vendor address, name or alias, and tax ID.
Notes:
- If you use the 1099 Name field and file via magnetic media, ensure your entry generates the correct Name Control.
- If the vendor name and/or address is incorrect, refer to BB37328.
- If you need to adjust the vendor tax ID and the field is grayed out, refer to BB181316.

After you verify all of this information, you will be ready to print your 1099s in January.

For detailed steps, take a look at the special edition of The Ledger: Accounts Payable 7 End-of-Year Process. Talk to you soon!