Contents

In Microsoft Dynamics NAV, you can use the following tax forms to report 1099 transactions:

• Vendor 1099 Div – Dividends

• Vendor 1099 Int – Interest

• Vendor 1099 Misc – Miscellaneous Income

The Internal Revenue Service (IRS) requires one or more versions of the 1099 tax form for payments to vendors. Copies of these forms must be sent to vendors annually on or before the last day of January.

The Vendor 1099 Information report allows you to review 1099 transactions paid during a specified period. At the end of the year, you can print 1099s on preprinted forms.

1. In the Search box, enter Vendors, and then choose the related link.

2. Select a Vendor, and then on the Home tab, in the Manage group, choose Edit.

3. On the Payments FastTab, select the IRS 1099 Liable box and fill in the fields as described in the following table.

Choose the OK button.

1. In the Search box, enter Purchase Orders, and then choose the related link.

2. Select a purchase order, and then on the Home tab, in the Manage group, choose Edit.

3. On the Lines FastTab, select the IRS 1099 Liable check box.

On the Invoicing FastTab, fill in the fields as described in the following table.

1. On the Home tab, in the Process group, choose Post.

2. Choose the OK button.

1. In the Search box, enter Vendor 1099 Information, and then choose the related link.

2. On the Vendor FastTab, select the appropriate filters.

 Note

To run this batch job, you must select the Date Filter as a filter and enter the date.

Choose the Print button to print the report or choose the Preview button to view it on the screen.

Shows the federal form 1099-DIV for dividends and distribution. You can print all or specific 1099-DIV forms.

The report uses the codes that apply to the DIV form amount boxes from the IRS 1099 Form-Box table. Regulatory changes affecting this report and the table data are generally handled in the end-of-year updates. Check with your service provider to determine if your system has received the latest updates.

The DIV codes from the IRS 1099 Form-Box table are mapped to the form boxes in the layout of this report, so the table data and report version for a particular tax year must be in agreement. If any custom codes for dividends and distribution are added to the table there must be mapped to the form boxes inside this report object.

It may be helpful to run the Vendor 1099 Information report to review the data before printing the forms.

Shows the federal form 1099-INT for interest income. You can print all or specific 1099-INT forms.

The report uses the codes that apply to the INT form amount boxes from the IRS 1099 Form-Box table. Regulatory changes affecting this report and the table data are generally handled in the end-of-year updates. Check with your service provider to determine if your system has received the latest updates.

The INT codes from the IRS 1099 Form-Box table are mapped to the form boxes in the layout of this report, so the table data and report version for a particular tax year must be in agreement. If any custom codes for interest income are added to the table these must be mapped to the form boxes inside this report object.

It may be helpful to run the Vendor 1099 Information report to review the data before printing the forms.

Shows the federal form 1099-MISC for miscellaneous income. You can print all or specific 1099-MISC forms.

The report uses the codes that apply to the MISC form amount boxes from the IRS 1099 Form-Box table.

Regulatory changes affecting this report and the table data are generally handled in end-of-year updates. Check with your service provider to determine if your system has received the latest updates.

The MISC codes from the Vendor 1099 Information table are mapped to the form boxes in the layout of this report, so the table data and report version for a particular tax year must be in agreement. If any custom codes for miscellaneous income are added to the table these must be mapped to the form boxes inside this report object.

It may be helpful to run the Vendor 1099 Information report to review the data before printing the forms.

Shows the vendor’s 1099 information. The report includes all 1099 information for the vendors that have been set up using the IRS 1099 Form-Box table. This includes only amounts that have been paid. It does not include amounts billed but not yet paid. You must enter a date filter before you can print this report.

Specifies the 1099 forms that can be exported. The form information exported by this report is the same as the reports that print 1099 forms. These reports include Vendor 1099 Div, Vendor 1099 Int, and Vendor 1099 Misc.

The report uses the codes that apply to the form amount boxes from the IRS 1099 Form-Box table. Regulatory changes affecting this report and the table data is generally handled in end-of-year updates. Check with your service provider to determine if your system has received the latest updates.

The codes from the IRS 1099 Form-Box table are mapped to the form boxes in the file layouts of this report, therefore the table data and report version for a particular tax year must be in agreement. If any custom codes are added to the table these must be mapped to the form boxes inside this object.

It may be helpful to run the Vendor 1099 Information report to review the data before exporting.

Specifies the vendor 1099 statistics that you can use to create 1099 reports and generate the files necessary to submit 1099 information to the Internal Revenue Service (IRS). This information is required to report paid vendor income.

After you have verified vendor statistics, you can print the Vendor 1099 Information report.

You cannot change the contents of this window.

Specifies how you want to set up 1099 tax forms to use on vendor cards, track posted amounts, and print or export 1099 information. After you have set up a 1099 code, you can enter it as a default 1099 form for a vendor.

The data that is included with the CRONUS International Ltd. demonstration database is designed to work with the 1099 reports included with Microsoft Dynamics NAV. If the demo data changes, the corresponding change must also be made to the affected report so that the codes in the IRS 1099 Form-Box table can map to the form boxes in the report.

Regulatory changes that affect this data is generally handled in end-of-year updates. Check with your service provider to determine if your system has received the latest updates.

Pre-Requisites:

1. Must have 1099 code on vendor card

2. Must have 1099 liable checked on purchase invoice lines (this should default if code is entered on the vendor card.

3. Liable invoices must be paid

Process:

1. Search for the report relating to the form you wish to print:

   1. Vendor 1099 Div – Prints the federal form 1099-DIV for dividends and distribution. You can print all or specific 1099-DIV forms. The report uses the codes that apply to the DIV form amount boxes from the IRS 1099 Form-Box window.

   2. Vendor 1099 Int - Prints the federal form 1099-INT for interest income. You can print all or specific 1099-INT forms. The report uses the codes that apply to the INT form amount boxes from the IRS 1099 Form-Box window.

   3. Vendor 1099 Misc - Miscellaneous income - Prints the federal form 1099-MISC for miscellaneous income. You can print all or specific 1099-MISC forms. The report uses the codes that apply to the MISC form amount boxes from the IRS 1099 Form-Box window.

2. Select the current (or needed) year.

3. Print.

To correct 1099 transactions:

1. Go to vendor ledger entries for the vendor in question.

2. Right-click to choose 1099 code and 1099 amount fields to add to the table.

3. Edit the entries list by putting in the amount and the applicable code.