1099 Preparation

Mark Christopher

Can you use NXT to create 1099's or is this just a database function?

Thomas Walker

Mark, 1099's are still produced in the db view in conjunction with our partner Aatrix

Dawn Alonso

Are there any plans at all in putting that capability onto FENXT?  It seems silly to need to utilize the database for this one thing once a year, especially when Education Management-Billing Management has the capability to produce and file 1098T right from the new system.

Thomas Walker

Yes Dawn, we do plan on moving the 1099 production into the Webview. Date as to TBD at this point

LuAnn Ringler

Also, can a 1099 report be run in NXT?

Dawn Alonso

LuAnn,


There is no way to run a 1099 report in FENXT, there are no vendor reports.  You must do all of that in the database version. But it is apparently on a future trajectory according to Thomas.

LATOYA CALYEN

I love the data base view I do everything in there except attachments. I have to go to the web view fo that.  

Ferdie Alayon

Hi Thomas,


Are you aware if Aatrix is ready with the new 1099 and 1096 tax forms to report 1099 MISC and 1099-NEC?


Thanks.

LuAnn Ringler

Here is the info that we received in the webinar on 12/3-

Updates to accommodate 1099-NEC reporting will be included in the end-of-year patch, patch 38. All fields reported on both 2020 1099 forms are already being tracked in Financial Edge.