Note: If you have not run 1099s on the Financial Edge workstation before, you will need to first install Aatrix, and you will need to be a local administrator on the workstation to do so. Follow the steps in How do I update or install Aatrix in Accounts Payable 7
Step 1: Getting started
- 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 the appropriate attribute actions, if applicable.
- Click Display Report.
- If an update is required, you will be prompted to download it.
- If you have started working on your 1099s, you can continue your work by clicking Yes. Otherwise, click No to start anew.
- In the 1099 Setup Wizard, select the appropriate options for your filing needs, clicking Next through the prompts and filing out information as required. Please note that the State & Local Tax Items page will be blank because withholding and unemployment information is not required for 1099 filing.
- The 1099 information transfers from the program into the 1099 Preparer. You can make edits directly in this screen for most columns.
- Important: Changes made to this screen are not written to the vendor record. You must make adjustments on the vendor's record or the activity will not match the 1099. We recommend making changes to the vendor's record prior to prior to preparing your 1099s.
- The columns in the left section of the grid include vendor biographical information such as name, address, and taxpayer identification number (TIN). All TINs come over in the EIN format (XX-XXXXXXX). If the vendor you are paying should have the TIN in a Social Security format (XXX-XX-XXXX), unmark the box in the column called Check if FEIN.
- The columns on the right include earnings and tax information. To move the divider to allow greater access to either section, place your cursor on the gray bar between sections until the arrows appear. Click and drag the bar left or right.
- From within the form, review and finalize your information. Click Next Step when you have finished verifying the items on the checklist. Click Previous Step to return to the previous item. You can select File, Save from the menu bar at any time to save any changes made during this process.
- After you have completed verifying all the items on the Checklist, click Next Step to access the 1099 MISC Printing and Filing Options.
- Select the eFiling Service or Other Options and click Next.
- Make your selections for the archive CD and divider sheets, and review which forms you have selected to produce. Click Next to advance or click Back to return to any of the previous screens.
- The State and Federal Tax Reports screen appears. Follow the directions in the action bar and click Next Step to proceed to the next step, or Print Draft or Print Final to print a copy of this form.
- After clicking Next Step for step five, you will connect to the secure Aatrix eFile Center. Follow the prompts to continue the eFiling process.
- You must define your organization's Federal Identification Number in Configuration before accessing 1099 forms.
- Configuration must be updated to print forms for multiple EINs
- Amounts reported on 1099 forms are based on payments made to vendors during the calendar year.
- To ensure compatibility with IRS regulations and forms, you must download the end-of-year update from our website before processing 1099s.
- We strongly recommend printing a test form to verify alignment with pre-printed forms. To adjust the form alignment, refer to How to adjust 1099 form alignment.
- For information on adjusting 1099 amounts, refer to How to adjust 1099 amounts.
- If the 1099 amounts for your Vendors are incorrect, refer to How to find and correct missing 1099 activity
- If you need to make corrections, add new vendors, or print other forms, you can select the appropriate option in the 1099 History File Options screen