Setting Up Vendors for 1099 Forms
Open the vendor record. Select the Receives 1099 check box and complete the fields underneath it.
If the Tax Payer Name is the same as the vendor's name, leave this field blank. Only complete it if the name is different.
If you are going to extract 1099 data, leave the YTD 1099 Amount field blank. If you are going to enter the 1099 data manually, complete it. For information about entering data manually, click .
Setting Up Owners for 1099 Forms
Open the owner record. Select the Receives 1099 check box and complete the fields underneath it.
If the Tax Payer Name is the same as the owner's name, leave this field blank. Only complete it if the name is different.
If you are going to extract 1099 data, leave the YTD 1099 Amount field blank. If you are going to enter the 1099 data manually, complete it.
Setting Up Your Property Management Company as a Vendor
Add your business as a vendor. This information will be used to complete the payer information on the 1099s.
Select Receives 1099 and complete the fields below it.
If the Tax Payer Name is the same as the vendor's name, leave this field blank. Only complete it if the name is different.
Marking an Account as 1099 Exempt
On the GL Account screen, you can mark an account as 1099 Exempt. Payables that use this account (as the expense account) will not be included in the 1099 amount for a vendor or owner.
Adding New GL Accounts
We recommend that you review the 1099 forms that Breeze will generate. If a GL account has not been set up for a specific box on a 1099 form that your business requires, add the account before you start recording payables.
For example, you could look at the 1099 Data Extract screen (Accounting > IRS Forms > Extract Data).
On this screen, you link accounts to boxes on the 1099 form. For example, if you need to complete the Gross proceeds to attorney box on a 1099 form, you will need to add a GL expense account for it.