IRS Reporting Period

The first step to setting up 1099 reporting in Business Central is to create an IRS Reporting Period
 

1. Search for  "IRS Reporting Periods"




 

2. Select "+ New" to insert a new row.

3. Define the No., Starting Date, Ending Date and Description

 

 

  1099 Forms

Follow these instructions to specify which 1099 form types can be tracked, such as MISC, NEC, etc.

1. Search for  "IRS Reporting Periods"

2. Select an existing reporting period and choose "Forms"

3. To insert a new form type, click "+ New"

4. Define the No. and Description for each Form Type

5. To define the various tax form boxes that can be captured, select a form type and click "Form Boxes"

6. For each box, define the No., Description and Minimum Reportable Amount

 

 

Copy Forms/Boxes from a Prior Reporting Period

If a previous Reporting Period has already been setup, you can copy the settings from that year to streamline the creation of the new Reporting Period

1. Search for  "IRS Reporting Periods"

2. Create a new Reporting Period

3. Select "Copy Setup From"

4. Specify the Reporting Period to copy from and click "OK"

5. A confirmation message will confirm the items that have been copied. Click "OK".