In addition to support for printing 1099s, aACE includes several related features designed to simplify the 1099 process.
1. Flag company records as requiring 1099s
In the Finance / Accounting screen of Companies, there is a checkbox for flagging a company as requiring a 1099.
This flag can be set manually, or you can run the list view batch update by selecting "Update 1099 Setting for List". You will be prompted to select either True or False to update the setting for all the companies in your current list, depending on your selection.
2. Recalling 1099 companies
When you need to find a list of all your 1099 companies, navigate to the Accounting screen of advanced search where you will find the corresponding search field for finding companies flagged as 1099. Here you can enter additional search criteria in the event you want to constrain your list of 1099 companies further.
3. Vendor Disbursement Volume Report
Launching the report selector in companies by choosing Print > Open Report Selector offers a report called "Vendor Disbursement Volume". This report is based on your found set, so unless you've found your list of 1099 companies prior to running the report, you may have non-1099 companies in the printout. You will be prompted for a tax year, and included in this report is the company name, their tax ID, their address, and their disbursement volume for the year. Keep in mind that the disbursement volume is based on the office you are currently logged in under, so if you need to run this report for a different office you will need to switch to that office by clicking the current office code at the bottom of your menu. (You need the "Can Switch Offices" access privilege in order to do this.)
4. Find Vendors with x Disbursement Value
A more advanced tool can be found in the search menu of companies called "Find Vendors with x Disbursement Value". Selecting this will prompt you for a tax year and a disbursement volume.
This process searches the disbursements data for the year entered and returns a list of companies that have a total disbursement volume equal to or in excess of the value entered. Note that this does not constrain your list to companies flagged as 1099. Once you have this list, you may optionally run the "Update 1099 Setting for List" process to set the 1099 flag, or if you'd like to further constrain this list to companies already flagged as 1099, run an advanced search by checking the "Requires 1099" flag and then selecting "Constrain Found Set" from the Requests menu.
5. Printing 1099s
From the print menu you can select "Print Vendor 1099s for List". Keep in mind that this report is based on your found set, so unless you've found your list of 1099 companies prior to running the report, you may have non-1099 companies in the printout. Furthermore, the disbursement volume is based on the office you are currently logged in under, so if you need to run 1099s for a different office you will need to switch to that office by clicking the current office code at the bottom of your menu. (You need the "Can Switch Offices" access privilege in order to do this.)
The value in Box 7 of the 1099 will be the total amount disbursed to the vendor for the tax year entered at the beginning of the process.