Export 1099 Data from TOPS [ONE]

RELATED LINKS

Add A Vendor in TOPS [ONE] 

Schedule Reports - Sent to an Email

 

RELATED (OUTSIDE)  LINKS 

1099 IRS Form Info

Instructions for Form 1099-MISC 2018

What Happens When Someone Forgets to File a 1099 on Their Tax Return?

 

DESCRIPTION 

The 1099 form is a collection of documents required by the Internal Revenue Service(IRS), to report various taxable incomes.

This is required for vendors who have received over $600 in: 

  • services performed by someone who is not your employee;
  • other income payments;
  • generally, the cash paid from a notional principal contract to an individual, partnership, or estate;
  • rents
  • prizes and awards
  • medical and health care payments
  • crop insurance proceeds
  • cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish
  • payments to an attorney
  • any fishing boat proceeds

In addition, use this form to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.

This guide will give you step by step instructions on how to export the data from TOPS [ONE] needed to generate the required 1099 forms and how have this data automatically sent to an email. 

 

BEFORE YOU START

TOPS [ONE] exports the data needed to fill out the 1099 forms. TOPS [ONE] does not generate the forms filled out.

In order to print the forms, you will need to have the 1099MISC Tax Form Kit with Software in order to import the data from TOPS [ONE].

You can find these forms and software at your local Office Supply Store Retailer. 

Office Depot 2017 1099 Forms w/Software

 

Verify that the following information is filled out to avoid missing data on the 1099 form

-Vendor Tax ID 

-Vendor Full Address

-Vendor Phone Number 

-Vendor Name 

-Community Tax ID 

-Community Full Address

 

 Vendors must have the Receives 1099 check mark on their page in order for them to appear in the 1099 export data.

If they are missing that check mark, enable the vendor by click Actions then Edit Vendor. Then click the Receives 1099 toggle to include this Vendor in the data export. Then click save on the top right of the page. 

 

STEP-BY-STEP

1. Click Reports then Standard 

2. Scroll Down to Year End and select 1099 

3. Fill in the Parameters 

Minimum 1099 - By default, this populates with 600, which is the minimum dollar amount required by the IRS for this form. 

Start/End Date-  Because this form is required every year, the start and end date defaults to the first and last day of the year. 

Sort - Select your preferred sort order 

Export Format - You have the option to export the 1099 Summary. Select either Excel, PDF, or Word.

4. After you'd made you changes, click Apply  to see the changes in the Vendor Summary. 

5. To export using your Export Format option, click 

6. When Finished, click Export 1099 Tax Data. 

 

You will then use your 1099 software programs to import the data from TOPS [ONE] and print the 1099 forms. 

 

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