Print an Owner or a Vendor 1099 Audit List

The Audit Lists are Reports which can be found on the report menu under the vendor group.  This list can give you a preview of 1099s to expect to be printed and the amounts meeting the criteria for each Owner or Vendor.

Owner 1099s

Owner 1099s are based on the Owner’s income (accounts 4000-4999) for the year to date.  To view all of the income accounts and the totals for the year, print an Owner’s Cash Flow Statement or Owner’s Standard Operating Statement for the last operating month of the fiscal year.  A 1099 will only print if the amount is equal to or greater than $600.00.  The Owners set up window must have a tax ID number in order for the 1099 to print.  To make sure that your owners have a tax ID, go to Setup>Owners and confirm that the correct number is in the tax ID # field on each owner window.  One 1099 will be printed for each ownership entity, including corporations.  This means that even partnerships will receive one joint 1099 form.

Vendor 1099s

Vendor 1099s are based on the amount of the vendor ledger payments year to date total.  A 1099 will only print if the amount is over $600.00.  The Vendor’s set up window must have a tax ID number and the Generate 1099 Forms box must be checked in order for the 1099 to print.

To make sure that your vendors are set up correctly, go to Setup>Vendors, and confirm that the correct number is in the Tax ID Number field and the Generate 1099 Forms box is checked on each vendor window.

Printing 1099s

1. Got to Reports>Vendor Reports.
2. Select the Owner 1099s or Vendor 1099s.

3. Choose your criteria in the Select area on the right side of the screen.  For Owners, the choices are:  All Owners or Select Owners.  For Vendors, the choices are:  All Vendors or Select Vendors.
4. Verify the End Date field which would be 12.31.2007 (Or the last day of the year for the year you are working in).
5. Modify the Top and Left Margins (only if needed).
6. Click Print.