Symptom: 

After updating the Aatrix forms to process the 1099s, the expected vendors do not appear on the 1099 MISC form.





 
Cause: 

Most 1099s will now be on form 1099 NEC. This is due to the change made by the IRS in 2020 that is outlined in this article: https://kb.abila.com/article/1099-nec-changes-2020.

 

Resolution: 

Select the 1099 NEC from the Form box:


Please bear in mind that the latest release of MIP corrected the 1099 vendor coding for most transactions. You will only need to enter adjustments if adjustments had been entered throughout the year.
This article discusses how to audit 1099s: https://kb.abila.com/article/auditing-and-correcting-1099s

Additional Information: 

You may still have vendors who require a 1099 MISC form for box types other than Box 7 such as 1099 MISC Box 01 or 03.  To verify which vendors will be receiving a 1099 MISC and which will get a 1099 NEC, you can run a 1099 Detailed Vendor report (Reports > Journals > Cash Journals)


 


 

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Abila MIP Fund Accounting
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Accounts Payable

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