Transcript Document
General 1099 Guidelines:
WHO SHOULD RECEIVE A 1099?
File a Form 1099-MISC for each person you paid during the
year:
$600 or more for:
Services (individuals or partnerships and some LLC’s)
Rents
Prizes or Awards
Medical Services
Attorney Services
$10 or more for:
Royalties
VERIFY 1099 DATA
(See IRS Publications 1099 MISC and General Instructions
for specific reporting requirements.)
All 1099 Vendors should be flagged for the correct 1099 vendor
type (located in USASWeb Vendors or VENSCN):
a. Non-employee compensation
b. Rents
c. Other Income
d. Medical and Health Care Payments
e. Royalty Payments
f. Attorney (gross proceeds)
If a 1099 vendor has more than one vendor #, combine all calendar
year totals for that vendor, choose one vendor# and edit the
calendar year total on that record to reflect the total paid
1099 Override Field
If set to “Yes”, a 1099 will be created regardless of the
Calendar Year – to-Date amount. If you use this flag, the
vendor will receive a 1099 regardless of whether or not
they meet the minimum reporting amount as long as their
YTD total is >0. The default option is “No”. This is often
used for deceased employees.
Run the F1099 program to generate an
F1099.txt report to verify accuracy.
HOWEVER – DO NOT create the tape file at
this point!!!!!!
Process the month end procedures
per the check list.
Remember to follow the check list in
order so all programs and backups
are completed before you run
adjust!
Don’t Forget to Run your Workers Comp Report
USAS_LCL, DTR_TRECA and then #68, 69 or 70
Calendar Year End Closing
When you are satisfied that the data
on your F1099.txt report is correct,
run the program again and select
the option ‘Y’ to create the tape file.
Send the 1099 total form to TRECA
by email to
[email protected] or fax to
740-389-4517.
DON’T FORGET!
Request your files be backed up
and wait to hear from us
BEFORE you continue on!
Email fiscal_support @treca.org
to request your backup!
ADJUST
Run ADJUST program selecting the “Month End” option
Run ADJUST program selecting the “Year End” option and
run for “Calendar”.
IMPORTANT!!!! If you forget to run ADUST for the
CALENDAR year end, in the step above, your 1099 totals
will not clear.
You may now begin January processing!