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:
Notes
Payer Name
1234 Address St.
Los Angeles, CA 90011
 
The field Subtract Fees from 1099 Income is set to Yes or No, so you can default it when entering data to whichever you prefer.  There is an option to change it on the Fee itself, but this field sets the default. Keep in mind that the agent's 1099 will be generated based on whether each fee is set to Yes or No, not on the default setting. 
For example, if I have a transaction where the agent earned $3,893.40 but I reduced their income by $250.00 to pay a fee, 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 be contributed 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. 

Info
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

Warning
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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