The Accounts Payable module allows you to report 1099 amounts to the government using magnetic media. Generally, if you file more than 250 1099-MISC Forms, you need to file them via magnetic media. Certain information about your organization that is placed on the file must be initially entered and then changed yearly before you create the magnetic media files.
The Government Forms Filing Wizard will create an electronic file compatible with the IRS FIRE system (Filing Information Returns Electronically). Refer to Internal Revenue Service instructions and publications for Publication 1220 if you have additional questions about the control information for this option (https://www.irs.gov/pub/irs-pdf/p1220.pdf).
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If the payee is a sole proprietor of a business, you must report the Doing Business As (DBA) name and the proprietor’s name. To ensure both are included in the 1099, verify the proprietor’s name has been entered for each subsidiary on the Create/View Vendors window. |
