1099 Form Processing

NOTE TO DISTRICTS THAT STARTED BUDGET JULY 1st - If you have not already done so, please provide your account representative with your vendor balances from January through June from your previous software.  Once those balances have been imported, please follow the instructions below to produce your 1099 forms.

 NOTES:

• 1099 forms will be printed on plain paper.
• Copy A (red copy) of the 1099 must be purchased by the district as it cannot be reproduced by Genesis. 

1099 Box Settings:

Link to IRS document for 2023 1099 MISC - CLICK HERE

Link to IRS document for 2023 1099 NEC - CLICK HERE

The combination of 1099 Form Type MISC and Box 7 is no longer valid.  1099 MISC form must go with Box 3.  For non-employee compensation you must use form 1099 NEC.  No need to select a box for the 1099 NEC form - the system defaults to the only box this can go in on the new 1099 NEC form.  The system is programmed to warn you of all vendors with the invalid combination (screen shot below).  

To make the corrections to the vendor settings you can either go into each vendor with the warning and change the 1099 settings to the appropriate designations, or use our new button to mass set them.  Check off the box in the first column and then click on the "Set 1099 form/Box for Checked".  Then complete the appropriate lines in the second screen shot below.  It's a quick, easy way to mass-fix your vendor 1099 settings.

How to Process 1099 forms

1.  Review Vendor Records – Financial > Vendors, Etc. > Vendors      

• Using the search options provided on the screen above, you can search for vendors who should receive 1099 forms. 
• Clicking the Properties button next to a vendor will take you into the vendor information and allow you to check off the 1099 form box for vendors who should receive them, if they’re not already checked off.

• Additional tabs available while on the individual vendor's screen are shown in the top menu bar – Info, Payments and 1099 
  • Info tab – is the vendor information screen shown above
  • Payments – displays all payments made to this vendor for this budget year 
    • To look up the calendar year’s payments, enter the year in the “Chk/Adv Issue Date Year” field and change the PO School Year drop-down to the blank spot.
  • 1099 – provides the ability to print this vendor’s individual 1099 form, or Copy A.  This is also the screen where the January through June data will be imported for new districts.  NOTE:  The amount does not populate on this screen until you do step 2 below.

2.  Create 1099 Forms - Financial > Vendors, Etc. > 1099s

         Click the Recreate 1099 Data for all vendors button.  This will create a 1099 record for all vendors who are set up to receive one.  Repeat in the Vendor Various section if you used Vendor Various this year.

3.  After creating the 1099 records, the Financial > Vendors, Etc. > 1099s screen will contain the following buttons.

• Recreate 1099 Data for all vendors – if you have to make any adjustments or corrections to vendors, click this button to re-run the 1099 forms with the new/corrected data.  Be sure to use the Delete button described below before using this button.
• Delete 1099 Data for all vendors - click this button to remove all 1099 data from this screen.  Use this if you have made any changes to vendor records.  Deleting them and recreating them will bring in the new data. 
• Download all 1099MISC (Other Copies) button – provides a preview of all of the 1099MISC forms for your district.  You can print them from this screen onto plain paper.
• Download all 1099MISC (Copy A) button – provides a preview of all Copy A copies of the 1099MISC forms.  Print these forms on the forms you purchased.
• Download all 1099NEC (Other Copies) button – provides a preview of all of the 1099NEC forms for your district.  You can print them from this screen onto plain paper.
• Download all 1090NEC (Copy A) button – provides a preview of all Copy A copies of the 1099NEC forms.  Print these forms on the forms you purchased.

4.  Create EFile (if your district chooses to EFile)

To create a file to EFile to the IRS, complete this section and click the "Download E-File" button.  This button does not appear until AFTER you create the 1099 data for the vendors.

To create a file to Efile to the State of NJ, complete this section and click the "Download NJ E-File" button.  This button does not appear until AFTER you create the 1099 data for the vendors.

5.  On the Financial > Vendors, Etc. > 1099s screen, the following buttons will take you to the documents and instructions published by the IRS:

6.  To get the totals for your 1096, you can get the count of forms as well as the totals from the Financial > Vendors, Etc. > 1099s screen:

7.  After you have completed your 1099 processing for the year, you can lock the records.  Click on the Lock YYYY 1099 Data button to lock the records.