Sage Intacct’s 1099 solution allows businesses to track and report payments to vendors who meet the IRS requirements for 1099 reporting. By allowing Sage Intacct to automate this process, you decrease data entry errors and streamline year-end 1099 reporting.
There are several ways to tag vendors for 1099 reporting. For new vendors these can be manually set up or imported in. For existing vendors, 1099 information can be updated by editing the vendor or using an import template to override the empty fields with 1099 data.
Navigate to Accounts Payable > Vendors > Add Vendor > Additional Information Tab
To tag a new vendor, you will add all necessary information on the vendor tab (including tax ID) and then navigate to the additional information tab. Here, you will check the 1099 eligible box and enter the 1099 name if it’s different than the print name used on the vendor tab. You can also add any tax forms here as an attachment in the attachment field. Then hit "Save."
Upon hitting save, a new window will open displaying the 1099 information. From here, you will select the form name (example: Form NEC), the box (example for NEC: box 1), and, if applicable, the entity name. If this vendor has the same information across entities, you would leave this blank. Hit "Save" to save the 1099 information.
Be sure that the vendor’s tax ID information has been entered into the vendor tab.
If you need to update an existing vendor with 1099 information, you can navigate to Accounts Payable > Vendors > Edit the vendor you’d like to update > select the additional information tab. The instructions are slightly different from those of a new vendor because the FORM1099 link is already available.
If the 1099 name is different from the vendor’s print-as-name, use the 1099 name field to update it. Add any tax forms you’d like to save in the attachment field, and then click the FORM1099 link.
The above window will pop up, prompting the user to add the form name, the default 1099 box, and, if applicable, the entity this applies to. If this information is not entity-specific, then leave this field blank.
Be sure that the vendor’s tax ID has been entered into the vendor tab before exiting the vendor screen.
If you have the 1099 information from another system or you’re already tracking it in Excel, the import function might be a time saver for you. There are two options for importing this information.
Navigate to Accounts Payable > Vendors > Create new view to edit the columns displayed.
After you have selected “create new view,” you will be prompted to select the columns to display. In this case, you will need the Vendor ID, Vendor Name, 1099 Name, Tax ID, Form 1099 Type, and Form 1099 Box. You can uncheck any boxes that aren’t relevant to this view.
Navigate to step five,, which is saving and deploying this view. To make this easier to find in the drop-down menu, consider giving it a name relevant to the 1099 process. Select the deploy option if you would like other users to be able to see this view. Hit Save.
Once saved, you will be taken back to your prior view and can select the 1099 view.
From this 1099 vendor view, users can export the entire vendor list (with vendor IDs and template headers).
Once you have a complete file, save it as a .csv and upload it back into Intacct from the vendor screen using the import button at the top right.
If you don’t have existing vendor IDs that you need to reference, you may want to load the vendor list using an Excel (.csv) template. If this is the case, navigate to Company > Setup Tab > Import Data > Scroll to the Vendors* option > Download a new Template.
From this template, you will need to populate all required fields for a new vendor, including vendor name, contact name, print as name, and, if applicable, create a vendor ID. In addition, the fields specific to 1099 information are the tax ID, form 1099 type, and form 1099 box, and if different than the vendor, print as name, then use the name 1099 cells.
Once you have completed all required fields and the tax form fields, save the file as a .csv and then upload it to Intacct from the import screen.
*IMPORTANT: If your go-live date is during the year instead of year-end, you will need to load the initial balances for these vendors. The vendor IDs will need to be created before this step can be completed.
Once the vendors have been tagged as 1099 eligible, you can begin to add expenses via purchasing or accounts payable. You will notice that the 1099 box is already checked after you enter the vendor name when you enter an AP bill or a vendor invoice. If your configuration and permissions allow for it, this box can be overridden in situations where a single bill might not be 1099 eligible for a 1099 vendor.
If you open the vendor invoice screen or the AP bill screen and don’t see the 1099 box available, it’s likely hidden within that row. You can either move it to the line level or expand that row by hitting show details.
The information from the tagged lines on AP bills and vendor invoices is stored in the system and available at year-end to prepare 1099 forms.
If users would like to preview the 1099s before printing, they can navigate to Accounts Payable > All tab > 1099s.
From this screen, you can select your reporting year and entity. At the bottom of this screen, you will be able to select the form type for which the report will be displayed. You may want to view all forms or only view one form. For example, you may only want to select "Form NEC." In addition, most users prefer to see this report with credit card payments excluded.
Once all boxes have been updated with the requirements specific to your entity, you can hit view, and a preview report will be generated.
This allows users to make changes or even run AP ledger reports against these vendors to ensure that all 1099-eligible expenses have been included. If everything looks correct, you can move on to printing 1099s directly from Intacct.
If you’re not using a third party for 1099 reporting, the last step will be to print the 1099s and 1096s. Navigate to Accounts Payable > All Tab > Print 1099 Forms
The first field is the time period, and the second required field is for the entity. If you have a large number of vendors, you may want to split the list alphabetically for printing. This can be accomplished through the vendor fields. In addition, if you need to issue a corrected form, you can use the vendor fields to isolate the vendor and then check the box for “corrected.” Please only check this box when printing corrected forms, not when printing new forms.
The second area of this screen allows users to pick the form type, exclude credit card transactions, and adjust the printing.
When you have completed all necessary fields, hit the print option in the top right. If you selected an entity in the previous step, you will need to repeat these steps for each entity.
When you’re ready to print your 1096 forms, navigate to Accounts Payable > All > Print 1096. Select the year you’re printing for, select the entity or entity group, if you excluded credit card transactions previously you will select again, and chose the form to print. It’s suggested that one page from the PDF be printed first to ensure the printing will be aligned with the form.
For more information about year-end processing in Sage Intacct you can visit the Sage Intacct Help Center within the Sage Intacct Community, access and download all forms used in Sage Intacct, visit the TaxBandits site, or reach out to our support team for further guidance and assistance.
Creating a Checklist for Year-End Processes
Customizing Printed Documents
Printing Bills Error-Free