To find the 1099 tax section go to the left navigation menu and select Taxes.
This will bring you into the tax navigation menu where you will see five tax sections.
Configure Tax Accounts
The first section is Configure Tax Accounts. This is where you will add GL accounts to each box on the 1099 INT and 1099 MISC. You can either Import your GL configuration from last year, or you can start new and do it from scratch. I will walk through both options.
The first option is to Import Configuration from Prior Year. To do this click on the Configure icon. When you click on the icon you will get the box shown below. This is warning you that when you import prior tax information, any new items you may have added will be replaced by the imported tax information, so it is important to import first and then add new GL accounts. To continue, click OK.
The open box below will open to help you find your last tax database. If you are looking for the last tax database done in AccuTech, it will have MGRTaxForm.mdb at the end of the file. Click on the database you want and then click OK. The GL accounts will populate to your boxes.
You can also manually add GL accounts to each of the 1099 boxes. To add GL accounts to the tax box, follow these outlined steps:
- Choose the desired 1099 tab – either the INT or MISC.
- Select the tax box you want to add GL accounts to.
- Use the GL account selector on the right to check the GL accounts you want to assign to the chosen box. You can select multiple GL accounts at a time if needed.
- Once you have your accounts chosen, click on the add button.
- You should then see your accounts in the currently selected accounts area on the left.
Continue these steps for each applicable tax box for this form. Once you have all boxes configured for the INT tab, you can move to the MISC tab and follow the same steps. Similar to the account selector in the reports section, you can filter the account list by enterprise, account, subaccount, or even account name. As you type in the search bar above the accounts, you will see the list filter to only show the accounts containing the typed text.
The next tax section is generate 1099 where you will actually generate the tax data for this year.
There are only four tax generation parameters for the 1099 INT form: choosing the form, choosing the percentage method, and entering the from and to dates. Once you have these four parameters complete, click on the generate toolbar button. You should see a progress area appear on the right side of the window once you click generate. This is also where any generation errors will appear, we will cover how to fix those shortly. We do not create 1099 INT for owners with 0% ownership, please contact us if you need this feature.
When you choose to generate the 1099 MISC data, you’ll notice that there are two extra required parameters, firm fed ID and firm phone and one optional parameter, the EIN checkbox. We will show you a similar progress and generation error section for the 1099 MISC like the 1099 INT.
The below box will appear if there are errors in the Generate process. The most common tax generation error you will see is that either the payer or recipient federal ID is not nine digits. You can easily fix this by clicking on the pencil icon next to the contact code. This will open a pop up window of the contact’s record so that you can fix the federal ID number on the fly. Once you fix the generation errors, you must click on the Generate button again for the changes to go into effect. If you need assistance deciphering any of the generation errors, don’t hesitate to give us a call.
The edit 1099 tax section has four tabs – a grid edit tab for each tax form and a form edit tab screen for each form. The grid edit format allows you to see multiple tax records at a time for quick editing and number checking. To edit directly in the grid, simply click in the desired field to enable the field, make your changes, and click the save button. You can also click on the edit toolbar button to jump directly into the form edit mode for the currently highlighted tax record. If you need to find a specific tax record in the grid, you can use the search bar at the top of the grid to filter the results by your typed text.
When you choose form edit mode, you can click on the next and previous toolbar buttons to move through the tax records. You can also use the keyboard shortcuts Ctrl + left arrow for previous and Ctrl + right arrow for next. You can make changes in the form edit mode and hit save. Any edits that are made in the grid edit tab will appear in the form edit tab and vice versa.
Generate E-File Data
The Generate E-File Data section will assist you in submitting your 1099 information into the IRS FIRE (Filing Information Returns Electronically). If you have previously submitted through the FIRE system, you will simply fill out all information and click generate. If you have not used the FIRE system before, you must submit an application to receive a Transmitter Control Code (TCC). Here is a link to the IRS site: https://www.irs.gov/Tax-Professionals/e-File-Providers-%26-Partners/Filing-Information-Returns-Electronically-(FIRE). Once you have your TCC you can fill in the form and the 1099 information will be sent to the IRS. The review tab will show you a preview of the generated .TXT file.
To use this form enter in all the line items and hit Generate. If you have a special circumstance, three check boxes are provided to assist you. Only use the check boxes for special purposes. Here is an explanation of each:
1. CheckTestFile: Check this box if you would like to test your data. The IRS will process the file normally, but will NOT update IRS records. They will send you a test report to say if it processed properly or not. AgWare runs these tests before we release for each year, but this option is here if needed.
2. Correction: Check this box if you need to create a correction file to correct an issue. This is only needed it the original file was accepted and a correction was still needed.
3. Replacement: Check this box if the IRS rejects a submitted file, and you have corrected the necessary items and are ready to submit a replacement file.
The IRSTAX File is the location where your filing has been saved for your company.
The tax reports section contains all six tax reports that were available in AccuFarm; the actual tax forms for both the 1099 INT and 1099 MISC, as well as a print summary and do not print summary report for each tax form. We did make sure that our tax forms can successfully be printed on the special perforated tax paper.
To run a tax report, either click on the report drop down on the criteria tab and choose the desired report, or click on the report tab, highlight the desired report and click run.
You can easily switch the current report by using the report drop down and selecting a different report.