Setting up and Printing 1099's

Setting up and Printing 1099's

Setting Up 1099s

Go to Settings > FinancialBAY > Transaction Settings
In the 1099 section, ensure you have the the following fields filled out and year or years selected:
1099 Payer Name and Address
1099 Payer Tax ID
1099 Available Years
   
Please make sure the payer name, street address, and city, state, zip are all on separate lines (3 lines total), I.E:
Payer Name
1234 Address St.
Los Angeles, CA 90011
 
If you would like the agents 1099 to reflect the amount of PAYABLE Commission, then set the field to Subtract Fees from 1099 to Yes.  This will reduce the agents 1099 amount by all of the fees they were assessed on each transaction for the year. If you want the 1099 amount to be based on Agent Income before fees are deducted set to No. 
For example if I have a transaction where the agent earned $3,893.40 but I reduced their income to pay a fee by $250.00, then the agent's payable income is now $ 3,643.40. 
If you choose to subtract fees $3,643.40 will be contributed toward the agent's 1099, however if you choose not to subtract fees, then $3,893.40 will contribute toward the agent's 1099.

Printing 1099s 

Agent Profile

For the 'Print 1099' button to be available on Agent Profiles, you must have the Transaction Settings for 1099s set up. 

If you are Acting As an agent you will not see this icon. You must be logged in as an Agent to see the icon.
Agent Profile - Steps to Print

Go to My Account > Profile 
In the top right corner, click Print 1099
Select the year, and click Next
Click Download Print File

Admins Accounting

Admins have access to printing 1099s from Financial > Admin >Accounting
In the top right corner, click Print 1099
Select the year, and select the Agents (up to 20) and click Next
Click Download Print File

Admins will have access to this button even if you do not have your Transaction Settings for 1099 printing set up, but the 1099s will print without the necessary Company information. Be sure to have that filled out!
You will be able to select the year and up to 20 Agents to print 1099s for at a time.


The next step will provide a quick summary of total 1099 amounts.


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