AP: Year End - Revision history

Pmorey: /* Preparing for 2024 */

2024-12-05T13:35:46Z

Preparing for 2024

Pmorey: /* Processing Web Services 1099s */

2024-12-05T13:35:31Z

Processing Web Services 1099s

Pmorey: /* Close Old Year (also see Setup Periods) */

2024-12-05T13:34:21Z

Close Old Year (also see Setup Periods)

Pmorey: /* Setup Periods for the new year */

2024-12-05T13:34:04Z

Setup Periods for the new year

Pmorey: /* 2023 Year End */

2024-12-05T13:33:41Z

2023 Year End

Pmorey: /* 2023 Year End */

2023-12-15T15:10:59Z

2023 Year End

Pmorey: /* Steps to Printing 1099s - Traditional Method */

2023-12-06T18:08:31Z

Steps to Printing 1099s - Traditional Method

Pmorey: /* Preparation */

2023-12-06T18:07:29Z

Preparation

Pmorey: /* 2023 Year End */

2023-12-06T18:05:09Z

2023 Year End

Chanson at 19:37, 21 November 2023

2023-11-21T19:37:50Z

@@ Line 143: / Line 143: @@
 -->
-=Preparing for 2024=
+=Preparing for 2025=
 *Use [[AP Vendor Maintenance]] to:
 :*verify W-9 Tax Types
 :*verify TIN types.
-:*Set Default 1099 State Code - This will be the default used for 1099 vouchering detail for 2024.
+:*Set Default 1099 State Code - This will be the default used for 1099 vouchering detail for 2025.
 *When using [[Accounts Payable Invoice Vouchering|Invoice Vouchering]] - you may choose to enter the appropriate 1099 Type along with the 1099 state.  This will provide data you can use for next year's 1099s.
 *Keep up to date on new rules.  Prepare for 1099s going to all corporations.

@@ Line 124: / Line 124: @@
 #Select Federal & State 1099 Export from the Web Portal Export/Filing menu<br>[[File:APWebEfile.PNG]]
-##Verify Year is 2023
+##Verify Year is 2024
 ##Set Min. Amount for Federal 1099
 ##Select Payments From option

@@ Line 24: / Line 24: @@
 [[File:APSetPdsOldYr.PNG]]
 #Select “Setup Periods” from the Accounts Payable Month End menu.<br>
-#Enter “2023” in the Year box and hit “tab”<br>
+#Enter “2024” in the Year box and hit “tab”<br>
 #Mark the Status “C” for Closed
 <br clear=all>

@@ Line 16: / Line 16: @@
 [[File:APSetPdsNewYr.PNG]]
 #Select “Setup Periods” from the Accounts Payable Month End menu.
-#Enter “2023” in the Year box and hit “tab”
+#Enter “2025” in the Year box and hit “tab”
 #Follow the prompts to fill in the 12 calendar months automatically.
 #Click OK or press F2 when done.

@@ Line 3: / Line 3: @@
   -->
-=2023 Year End=
+=2024 Year End=
-<p>UPDATED 12/15/2023</p>
+<p>UPDATED 12/5/2024</p>
-Keystone provides the ability to print 1099-DIV, 1099-INT, 1099-MISC and 1099-NEC forms using the Web Services Process.
+Keystone 4.7.6 and higher provides the ability to print 1099-DIV, 1099-INT, 1099-MISC and 1099-NEC forms using the Web Services Process.
 This process is performed via our 3rd party partner Nelco.

@@ Line 89: / Line 89: @@
 *Entering 0 for Federal Amount for a 1099 class will cause that class to be skipped, even if a value exist based on the "traditional" value.
 ==Steps to Printing 1099s - Traditional Method==
 This is the traditional method of printing your own 1099s.  You can use this option when...
@@ Line 109: / Line 110: @@
 :'''Current Year''': This will print 1099s from the '''YTD Payments''' field.  This only works if you print 1099s right after the year ends and have no new activity.  Timing becomes quite tricky.
 :'''Transaction Detail''':  This takes advantage of the capability in invoice vouchering to record the 1099 class for each transaction with a vendor.  For example you could mark just the interest portion of note payments for the 1099-Int.  This provides way to distinguish activity by state.
 ==Processing Web Services 1099s==

@@ Line 41: / Line 41: @@
 ==Preparation==
-===Set up 1099 States (Web Services Process Only)===
+===Set up 1099 States ===
 [[1099 State Code Maintenance]] is used when...
 *State 1099s are required
@@ Line 62: / Line 62: @@
 :*Use [[AP Vendor Maintenance]] to setup the 1099 address where needed.  (Only use this when the 1099 address is different than the standard address.  These fields hold larger values than the standard address.)
-===Adjust 1099 Amounts for Vendors (Web Service Process)===
+===Adjust 1099 Amounts for Vendors ===
-Both state and multi-box federal amounts are configured on the new "1099 Amounts" tab in [[AP Vendor Maintenance]].  Skip this section if yow want to rely on traditional 1099 method of reporting the Previous Year, Current Year or Transaction Amounts from the main Vendor record.
+Both state and multi-box federal amounts are configured on the new "1099 Amounts" tab in [[AP Vendor Maintenance]].  Skip this section if you want to rely on traditional 1099 method of reporting the Previous Year, Current Year or Transaction Amounts from the main Vendor record.
 ====State Amounts====
-Make sure 1099 States are configured (from a/p file maintenance menu).
+Make sure 1099 States are configured (from A/P File Maintenance menu).
 On the 1099 Amounts tab, for each state and 1099 Class that apply to the vendor enter the:
@@ Line 84: / Line 84: @@
 [[File:APVen1099Amts.PNG]]
-'''NOTES:'''  When using Web Process...
+'''NOTES:'''
 *Any Federal Amount entered will trigger a 1099 to print even if it's less than the "Minimum Amount for Federal 1099"
 *When Federal Amount is entered for a 1099 class, it will override the "traditional" value for that class (e.g. "Prior Year Summary").

@@ Line 4: / Line 4: @@
 =2023 Year End=
-<!--
+<p>UPDATED 12/6/2023</p>
-Keystone provides the ability to print the 1099-NEC form, along with the 1099-MISC and 1099-INT.  For this year you will choose either the Traditional or the Web Services Process.
+Keystone provides the ability to print 1099-INT, 1099-MISC and 1099-NEC forms using the Web Services Process.
-{|border="0" cellspacing="5" cellpadding="5" align="center"
+This process is performed via our 3rd party partner Nelco.
 See: [https://givenhansco.nelcoportal.com/Content/Filing_Information Web Services Pricing Information]
 =Year end processing=

@@ Line 17: / Line 17: @@
 *No E-FILE is required.
 |'''Web Services'''
-Starting this year, E-Filing and several  new features are available when printing and E-Filing with our 3rd party partner NELCO.<br>You must use this process if...
+E-Filing and several other features are available when printing and E-Filing with our 3rd party partner NELCO.<br>You must use this process for...
 *State 1099s
 *Federal E-File
@@ Line 27: / Line 27: @@
 =Year end processing=
 ===Setup Periods for the new year===