What's New with 1099 Processing?

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If your organization has updated the Financial Edge to the latest version, 7.87, you may have noticed there have been some added features. You may have also seen some blog posts referencing ‘Aatrix’. One of the main changes we have made involves our 1099 processing. Blackbaud is happy to announce we are now processing 1099 forms using Aatrix tax reports. You will continue to access 1099 forms through the mail section of Accounts Payable. It is once you click to display the tax report, Aatrix will launch.  If you are using our Payroll module, you are likely familiar with Aatrix from W2 processing.

You may be asking yourself, “what does this new process do for me?” With Aatrix, we have more alignment tools to adjust form alignment more efficiently.  Using Aatrix also provides complete e-filing services.  Another great feature of Aatrix is that it offers a grid-view of the 1099 information prior to printing. This allows you to review and modify 1099 information for all vendors in one place to improve efficiency. We can sort by a variety of columns to review the information several ways.  Processing through Aatrix walks you through verifying all information before submitting to ensure you have all required tax information prior to printing. It has a navigation toolbar at the top of the screen walking you through the reporting steps.

Because we are using a new method, there are a few steps to prepare your organization for this change. To begin using Aatrix, you must install and register Aatrix as we mentioned in our earlier blogs. It is only required to install Aatrix once, but each quarter you must run a mandatory update that loads new forms or changes to existing reports to keep you up-to-date with tax reporting. If you already use Aatrix for Payroll, you will not need to install or register anything differently. We are very excited for our partnership with Aatrix for 1099 forms. Check back in with us for some more upcoming 1099 and year-end processing blogs. In addition to our Aatrix blogs, we also have the following resources:

1099 MISC Processing Guide

How to update/install Aatrix in Accounts Payable 7

When to contact Aatrix

Ensure your security group has the correct access to avoid an error when launching 1099s

 

News ARCHIVED | Financial Edge® Tips and Tricks 12/08/2014 7:00am EST

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