Print Vendor 1099 Forms
Note: Sage 50 highly recommends that you first print vendor 1099 forms on plain paper to verify vendor payment totals and form alignment.
You have the choice of printing 1099-MISC to report non-employee compensation of $600 or more a year or 1099-INT to report those vendors to whom you paid more than $10 in interest a year. When you enter a vendor in Maintain Vendors, there is a field for 1099 Type on the General tab.
Before you print vendor 1099 forms
Before printing the 1099 forms, you must verify that your company information will print correctly the forms and that general ledger accounts settings are made for various 1099 payments.
- From the Maintain menu, select Company Information. In the Maintain Company Information window, ensure that your company's address and telephone number are entered correctly.
- From the Maintain menu, select Default Information, and then Vendors. In the Vendor Defaults window, select 1099 Settings tab. Here you can establish how vendor 1099 calculations will be made for each of the general ledger accounts in your chart of accounts. You can choose whether 1099 payments made out of a given account will be calculated for miscellaneous income-type contractors or for interest income-type contractors. You can also choose to have no 1099 calculations made for the given general ledger account. This allows you to write checks to vendors and have them either only effect one of 1099 accounts or not effect the 1099 calculation. How do I set up 1099 settings?
Printing
1099 forms
You must print your vendor 1099 forms before you close the payroll (calendar) year.
- Insert blank preprinted
1099 forms into your printer. Sage 50 only prints the 1099
Miscellaneous and the 1099 Interest
forms.
- From the Reports & Forms menu, select Forms, then Tax Forms . Sage 50 displays the Select A Report or Form window.
-
Select either the 1099-INT form (for printing 1099 interest income statements for vendors as required by the IRS) or the 1099-MISC form (for printing 1099 miscellaneous income statements for vendors as required by the IRS).
- Click the Preview and Print button which is located below the sample image on the Select a Report or Form window. Sage 50 displays the Preview and Print filter screen.
- Verify that the payroll year is correct.
- If you want to manually adjust lower limits, which are established by the federal government, click the Adjust Limits button.
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In the Filter vendors by section, enter or select a vendor ID range or accept the default of all vendors.
In the Payment Method filter, select the type of payments to include when calculating the 1099s. Tell me more about this.
- When finished with the settings in the filter window, select Print/Email.
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In the Print dialog, Sage 50 displays the default printer. If you want to print to a different printer, use the drop-down arrow in the Name field to select a new one. Otherwise, click OK to begin printing the forms.
If you get a message that there were no forms to print, you may not have vendors set up as 1099-type vendors, or the 1099 vendors do not meet the minimum payment requirement.
In the 1099 Lower Limits window, set the limits as desired. Tell me more about this.
To print multiple copies, repeat the above procedure.