Creating 1099s through Aatrix

It's about that time! Today, I wanted to provide you with an overview the process of creating 1099s. As you have likely read in our other blogs, there have been some process changes. We can print and prepare our 1099 forms through the Accounts Payable module in Mail>Forms. Befor processing, we want to verify that we have rights in The Financial Edge to 1099 forms and that Aatrix (the program that runs the 1099s) is installed and registered. If you do not see 1099 Forms in Mail, we have some steps that can assist with getting 1099 Forms showing in Mail. Also, if you are not sure if Aatrix is installed and registered, check out our previous blog posts on updating, installing and registering Aatrix.

Once we have the set up configured properly, we can focus on the form itself. We can start with verifying our list of vendors in Accounts Payable. We suggest creating a vendor query to show a list of vendors that were paid more than a certain amount.  Creating this list can be a good step in ensuring that all of your 1099 vendors are marked appropriately and that no vendors are incorrectly marked as 1099 vendors. Once we have verified that our list of 1099 vendors looks good, we should be ready to get started on the printing process!

Heading into Accounts Payable, we generate forms for all vendors at one time through Mail>Forms. To follow the exact step by step process, refer to How to print and prepare 1099 forms in Aatrix in Accounts Payable 7. There are certainly times where a vendor may have been missed, after the printing process has occurred. No worries! The Financial Edge offers a way to print a 1099 form for one vendor. You will also find that there may be a need to specify a particular bank when generating these forms. The process is a little trickier, but these steps show you how to generate a query that can then be used to print 1099 forms for one particular bank.

The above steps highlight some of the common scenarios other Financial Edge customers encounter. There are certainly unique scenarios or questions that may arise during the process of printing 1099 forms, so continue to monitor the blog site for information regarding some of our other resources during tax season.