ABILA MIP 1099 PROCESSING

ABILA MIP 1099 PROCESSINGIn the following pages you will learn the following about processing 1099’s: •HowtoconfirmtheversionofAbilaMIPyouarecurrentlyusing •Howtoseewhichvendorsaremarkedtoreceive1099’s •HowtoreviewyourCashJournaltoconfirmwhichtransactionswillbe includedonthe1099 •Howtomakeadjustmentsifchangesarerequired •Howtocorrectlyprocess1099’sthroughthewizard

Beforeyoustartthereareimportant1099deadlinesthatyoushouldbeawareof.Thefirstisthedeadlinetosubmit1099formstovendorsnolaterthanJanuary31st.Anorganizationmustthenfileaform1096withtheIRS.Ifdonemanually,itmustbesubmittedbyFebruary28th.Ifyourorganizationfileselectronically,thedeadlinefor1096submissionisMarch31st.PleasevisittheIRSwebsiteathttp://www.irs.gov or contactyourtaxadvisorforcompletedetails.*Have you ordered your forms yet? If not please visit http://abila.checks-andfroms.com/homePage.do

Step 1Firstbeforeyoucanprocessyour1099’syoumustbeinthemostcurrentversionofAbilaMIP.Toconfirmwhichversionyouareusing,clickonHelponthetoptoolbar.NextclickAboutAbilaMIP.Ascreenwillthenappearshowingwhichversionyouarecurrentlyworkingin(fig. 1, fig. 2, fig. 3).

Step 2Todeterminewhatisthemostcurrentversionofthesoftware,youcanvisitAbila’swebsiteorcontactyourbusinesspartner.

1

fig. 1

fig. 2

fig. 3

www.mytruenorthtraining.com

Step 3Ifyouarenotonthecurrentversionofthesoftwarethenyouwillneedtoupgrade.Therearethreewaysyoucanupgradeyoursoftware. •ThefirstistologintotheAbilaKnowledgebaselocatedonAbila’swebsite anddownloadthesoftware. •ThesecondistousetheAbilaAutoupdatefeatureinstalledwiththeversion youarecurrentlyusing.YoucandothisbyclickingStart,Programs, AbilaAutoUpdate,andAbilaAutoUpdateConsole. •Thethirdoptionistocontactyourbusinesspartnerforupgradeassistance.

Step 4Afteryouarerunningthecurrentversionofthesoftware,youarereadytobegintheprocess.

Step 5Firstyoushouldreviewwhichvendorsinthesystemaremarkedtoreceive1099’s.Asageneralrule,youshouldnotissueapaymenttoanyvendorwithoutfirsthavingaW9formonfiletoensurethatanypaymentsareproperlyaccountedfor.Failuretofollowthisproceduremayresultinadditionalworkforyouandyourstaff.Thismayincludetheneedtocreateadditionaladjustmentsduringtheyear-endreviewprocessthatcouldotherwisehavebeenavoided.*To learn how to establish vendors as 1099 recipients, please refer to our Vendor Setup and Maintenance Training video

Step 6Toreviewyourlistof1099vendors,confirmyouareintheAccountingmodule.Thenfromthetoptoolbar,gotoReports,Lists,andVendorInformation(fig. 4, fig. 5).

Step 7SelectfromthedropdownmenutheDefaultReportnamedDefault and 1099 Information (fig. 6).

2

fig. 4

fig. 5

fig. 6

www.mytruenorthtraining.com

Step 8Oncethereportisselected,clickontheContenttab.OnthelowerportionoftheContentscreen,youwillseetheSelectedColumnsforthereport.Clickon“Issue1099.”Thenmoveituptothetoppositionbyusingtheblueuparrow(fig. 7, fig. 8).*For more information on the Report Content tab please refer to the Report Content Tab Training video

Step 9Intheselected“Issue1099”row,changetheSortdescriptioncolumnto“Desc”representingdescending(fig. 9).

Step 10Next,sincechangesweremadetothedefaultreportyouwillhavetogobacktotheSetupTabandrenamethereport.Ourrecommendednamingconventionforreportsisyourinitialsandthepurposeofthereportorwhatthereportmeanstoyou.*For more information on the Setup Tab please refer to the Report Setup Tab Training video

Step 11Afterrenamingthereport,youcanreviewtheinformationtoconfirmthattheappropri-atevendorsaremarkedas1099’s.Toreviewthereportyoueithercanclickprintpre-view,printtoscreen,orprint.Forinformationonmodifyingandeditingreportspleaserefertoourreporttrainingvideoseries(RPS10-RPS90).Afterreviewingthe1099vendors,westronglyrecommendthatyourequestanupdatedW9fromanyvendorinwhichquestionsmayexist.AW9isanIRSinformationforminwhichthevendorpro-videsyoutheirtaxpayeridentificationnumberalongwiththeirfilingtype.Werecom-mendnotissuinganychecksbeforeyoureceiveaW9fromthevendor,orifyoufoundanyissueswhenreviewingthereport.Ifyoufoundissuesgobacktoupdatetheven-dorfile,andmakethenecessarymodificationsbeforemovingon.*Special attention should be given to any 1099 vendor on the report in which the Tax ID Type is an “A.” This means the vendor’s Tax Identification number is currently in an “Applied For” status. The correct information needs to be updated in the vendor’s record as soon as possible.

3

fig. 7

fig. 8

fig. 9

www.mytruenorthtraining.com

Step 12Thenextstepinthe1099yearendprocessingistoreviewtheCashJournal.Hereiswhereyougotoconfirmwhatboxnumberhasbeenusedwhenprocessingtransactions.*To learn more about the transaction entry process please refer to our Entering Accounts Payable Invoices Training video

Step 13TheCashJournalwilldisplaythepaymentsthathavebeenmadeinagivenperiodorthroughouttheentireyear.Thiswillincludedetailontransactionsthathavebeencodedtoaspecific1099boxnumberandthosewhichhavenot.Thisprocesswillgiveyoutheopportunitytoconfirmthattransactionshavebeencodedcorrectlyandiden-tifyitemsthatneedtobeadded,adjustedorremovedfromthe1099throughadjust-mentsinthevendorfile.

Step 14TofindtheCashJournalfromwithinAccountingModule,gotoReportsonthetoptool-bar,Journals,andCashJournals.Werecommendthatyoufirstrunthedefault1099SummarizedVendorReport.RunningthereportinSummarywillgiveyoutheoppor-tunitytoevaluateifyouhavecodedyourtransactionsproperly.Thedefaultreportwilldisplaythecurrentyear’sdatesandwillneedtobechangedtolastyear’sdates.Afteryouchangethedatesyouwillneedtoassignanewreportnametothedefaultreport,sincechangesweremadetothereport.Ourrecommendnamingconventionforre-portsisyourinitials,thepurposeofthereportorwhatthereportmeanstoyou.Afterrunningthesummaryreportwerecommendthatyourunthereportagainbutthistimewithoutthe“VendorIssue1099”selectedinthefiltertab.Tounselectthisoptionhighlighttheitemandclickthebluearrowpointingtotheleft.AfterrunningbothoftheseSummaryreportscloseoutoftheformandre-opentheCashJournal.YoucandothisbygoingbacktoReportsonthetoptoolbar,Journals,andCashJournals.Oncere-opened,werecommendthatyourunthedefault1099DetailVendor1099reportbyinvoicenumber.Thiswillshowyoucertainvendorsinmoredetailinwhichquestionsmayexist.AfteryoureviewtheCashJournalthedefaultreportwilldisplaythecurrentyear’sdatesandwillneedtobechangedtolastyear’sdates(fig. 10, fig. 11, fig. 12).

4

fig. 10

fig. 11

fig. 12

www.mytruenorthtraining.com

Step 15Afteryouchangethedatesyouwillneedtoassignanewreportnametothedefaultreport,sincechangesweremadetothereport.Ourrecommendnamingconventionforreportsisyourinitials,thepurposeofthereportorwhatthereportmeanstoyou(fig. 13).

Step 16Werecommendreviewingyourreportsoyoucanidentifyitemsthatwillneedadjustmentsinthevendorfilesothecorrectinformationwillbeincludedonthe1099.Theseadjustmentscouldbeareclassofaboxnumber,addingitemsthatshouldbeincluded,orremovingitemsthatwerecodedincorrectly.*This process does not make any changes to the original transactions in the General Ledger. These adjustments, if any, will only adjust the 1099 processing.

Step 17Tomakeanyneededadjustments,clickontheAccountsPayabletab,andthenVendorsatthebottomofthepage.EnterthevendornameorvendorIDintheQuickSearchformatthetopofthepage(fig. 14).

Step 18Next,clickthe1099InformationTabwithinthevendorrecord(fig. 15).

Step 19The1099InformationTabiswhereyoucanconfirmthevendor’staxinformation,andmakeanyneededadjustments.

Step 20Aftermakinganyadjustmentsandreviewingyourresults,youarereadytoprocessyour1099s.Toprocess1099syouwillneedtogotoAccountsPayableontheNavigatortoolbar,andthenselectVendor1099’satthebottomofthescreen(fig. 16).

5

fig. 13

fig. 14

fig. 15

www.mytruenorthtraining.com

Step 21The1099processisperformedthroughAatrixwhichisanembeddedsolutionwithinAbilaMIPthatallowsyoutosubmitelectronicallyorprintyourforms.Aatrixwillautomaticallystartafteryouselecttheformtype.Inmostcases,theformwillbe1099MISC,andtheyearyouareprocessingfor.ThereisanoptiontofilterbutmostdonotusethisoptionunlessprocessingmultipleEINnumbers.PleasecontactyourbusinesspartnerorAbilaforfurtherassistanceonthisprocess(fig. 17).*We recommend you always select the update forms button if it is available. If the option is available and you update, you will need to close and then re-open the Vendor 1099’s at the bottom of Accounts Payable on the Navigator toolbar (fig. 18).

Step 22Afteryouchoosetheformtype,form,andyear,clickOK.Aatrixwillautomaticallystart.IfAatrixdoesnotstartoryoureceiveanerrormessagethismeansyoudidnotupgradeyoursoftware.OnceAatrixstarts,readeachscreencarefullyandconfirmthattheinformationdisplayingiscorrect.TheinformationyouseeinAatrixiscomingdirectlyfromyourdatabase(fig. 19).*If you notice the information about your organization is not correct, exit from Aatrix. Then log into the Administration module. From the main toolbar, click on Organization, and then Organization Information to make the necessary corrections (fig. 20).

Step 23FororganizationsthatneedtoprocessmultipleEINnumbersfromone-database,youmaydosobychangingtheEINnumberinAdministration.ThiswillresettheAatrixprocessandyoucanbeginagain.Youwillalsoneedtofilterwhenprocessingforthespecificfundyouareworkingwith.YouwillalsowanttoreviewyourCashJournalbyFundtoensurethatthecorrectamountswereenteredbyfund.Adjustmentswillalsorequireanentrytogetthedollarsinthecorrectfundandonthecorrect1099entity.re-opened,werecommendthatyourunthedefault1099DetailVendor1099reportbyinvoicenumber.Thiswillshowyoucertainvendorsinmoredetailinwhichquestionsmayexist.AfteryoureviewtheCashJournalthedefaultreportwilldisplaythecurrentyear’sdatesandwillneedtobechangedtolastyear’sdates(fig. 21).*Should you run into any problems during the 1099 process please contact the McGovern Consulting Group for further assistance.

6

fig. 16

fig. 17

fig. 18

www.mytruenorthtraining.com

ConclusionTo recap this trainingdocumenton1099processing,youhavelearnedwheretofindtheversionofAbilaMIPcurrentlyinstalledonyoursystem.Youhaveseenhowandwhereavendorismarkedtoreceivea1099,howtoreviewyourcashjournal,howtomakeadjustmentsthatmayneedtobemade,andthestepstobegintheactualpro-cessingof1099’sthroughtheAatrixwizard.

fig. 19

fig. 20

fig. 21

www.mytruenorthtraining.com