1099 Data in Accounting Seed can be exported in a CSV file format through the Cash Disbursement object list view. This file can then be uploaded to a 1099 printing service like Yearli.
Please note the 1099 Export file will only include disbursements in USD currency for any ledger selected.
Before 1099 data can be exported from Accounting Seed, the 1099 Vendor checkbox must be checked on the account or contact record. We recommend that the following data is also populated for each account or contact since this information is required by the government to file a 1099, but it will not prevent it to flow to the 1099 export file:
- Default 1099 Box
- Taxpayer Identification Number
- Navigate to the Accounting Home page and click the Cash Disbursement link.
- Navigate to the Cash Disbursement list view, click Go, and click the Create 1099 File button.
Note: None of the cash disbursements records need to be selected prior to clicking the Create 1099 File button. If you do not see this button, you may need to add it. To add it, click Setup>Create>Objects>Cash Disbursement and scroll down to the search layouts and edit the Cash Disbursements list view. Under available buttons, click on the create 1099 file and move it over to the selected buttons area and save. This will now show up on the Cash Disbursement list view.
- Set the 1099 Year, the 1099 Threshold Amount, and click Submit.
- If there are any 1099 vendors that meet Threshold Amount, a CSV file will be emailed containing each 1099 vendor and their consolidated cash disbursement amount for the 1099 year.
- Once the 1099 CSV file has been exported from Accounting Seed, it can be imported into a 1099 printing application or service.
Reviewing your 1099 Export File
Your 1099 data should be reviewed for accuracy by crosschecking the file amounts against a management report on the cash disbursements object for the data records in the respective 1099 year. Run the Cash Disbursements report by Payee and crosscheck the data against your 1099 Export file. Here are some of the common reasons that your 1099 Export File may not match your reported Cash Disbursements:
- The Account or Contact is not marked as a 1099 Vendor. If the Account or Contact is not marked as a 1099 vendor they will not show up in the 1099 File Export. To correct this simply mark the Account or contact appropriately as a 1099 vendor.
- The Cash Disbursement is not recorded to the correct ledger. It is possible to have a Cash Disbursement that you were intending to post in the ledger selected for 1099 reporting actually posted in an alternate ledger.
Modifying your 1099 Export File
It is possible that certain distributions to a 1099 vendor should be excluded in a 1099 report. For example, you may have an arrangement with a contract employee where travel expenses are reimbursed by the company and are not true income to the 1099 vendor. In this case, we recommend you run reports on the Payables object to search for specific payable lines that should be aggregated and deducted from the 1099 Export file. The export file can be modified in Excel or any text editor prior to sending it to a 1099 filing or printing vendor.