Printing 1099s
With tax season upon us, here is some timely information on printing your vendor 1099-MISC forms. This post assumes you already have some working knowledge of the Cougar Mountain accounting program.
The Current Year End that the 1099’s use are found in AP Module Preferences window. If it shows the wrong date, the Current Year End is changed by doing the period end procedures and selecting Reset YTD Vendor’s. This needs to be done before processing any payments for the New Year. Once this is done the year end date in the window will change to the next year. The second red circle area in the picture below shows where the Payer’s Federal Identification number is located in Module Preferences – while the Recipients ID number is entered in the AP Vendor window (see step below).
Each vendor requiring a 1099 will need to have the AP Vendors checkbox checked in AP Vendor maintenance window (see screenshot below). If the vendor is not checked no 1099 will print for that vendor. Below is the 1099 tab that is on the vendor master screen. The current year is the year that displays in module preferences window, and note the Federal ID box is where you enter the specific ID for that Vendor.
The current year figures cannot be adjusted on the 1099 tab, but the column Last Year can be edited. A trick to use when your numbers are not adding up, and you needed to print the 1099 thirty minutes ago, is to enter the numbers you need in the Last Year column – and check the box “Use Last Year 1099-MISC Amount” when you go to print it.
Hope you find this post useful – and Happy New Year!
Joe
Marketing
February 13th, 2009 at 8:35 pm
Thank you. This was extremely helpful.
April 15th, 2009 at 11:55 am
There is a utility APUTIL.exe that will recalculate the payments processed for the year.
GP Schaefer
gschaefer@earthlink.net