www.mcgoverncg.com 1099 Processing Through  Sage Fund Accounting Familiarization Session
Agenda <ul><li>Free Education Webcast </li></ul><ul><li>Software Version </li></ul><ul><li>Validating 1099 Vendors </li></...
Free Educational Webcast <ul><li>McGovern Consulting Group is committed to ensuring that our clients continue to develop t...
Confirming Your Version <ul><li>You Must be on Version 11.2.0 to process 1099’s </li></ul><ul><li>To Confirm Your Version ...
What If I Am Not on Version 11.2 <ul><li>Three Ways To Get Upgraded: </li></ul><ul><ul><li>Login to the Sage Knowledgebase...
Who is Marked as a  1099 Vendor <ul><li>To Confirm – Who is Registered As a 1099 Vendor </li></ul><ul><li>Accounting    R...
Who is Marked as a  1099 Vendor <ul><li>Select the Default report called <Default and 1099 Information> </li></ul><ul><li>...
Who is Marked as a  1099 Vendor
Who is Marked as a  1099 Vendor
Who is Marked as a  1099 Vendor <ul><li>Since changes have been made to the default report you will need to assign a new r...
Reviewing the Cash Journal <ul><li>To confirm what box number has been used when processing transactions, run the Cash Jou...
Reviewing the Cash Journal <ul><li>The default report will displays the current years dates and will need to be changed to...
Reviewing the Cash Journal <ul><li>Once you Change the Dates Assign a new report name to the Report.  </li></ul><ul><li>Yo...
Adjustments  <ul><li>If in your review there are Vendors that have the wrong box number or are not listed with a 1099 Amou...
Adjustments  <ul><li>Accounting    Maintain    Vendors </li></ul><ul><li>Click on the 1099 Tab of the Vendor record  </l...
Adjustments  <ul><li>Here is where you can: </li></ul><ul><ul><li>Confirm the Vendors tax information  </li></ul></ul><ul>...
Adjustments  <ul><li>Once all of your adjustment are done re-run the Cash Journal to review results </li></ul>
Processing 1099’s
Processing 1099’s <ul><li>Accounting    Activities    Produce Vendor 1099’s  </li></ul>
Processing 1099’s <ul><li>Always Update Your Forms if Available! </li></ul><ul><li>After you Update – Close and Re-Open th...
Processing 1099’s <ul><li>When you Click on OK it will start the wizard – read each screen carefully and ensure the inform...
Processing 1099’s <ul><li>If the information is not correct the majority of it can be fixed by logging into the Administra...
Should You Have Additional Questions Contact Us: McGovern Consulting Group, LLC 888-876-1544 www.mcgoverncg.com
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Sage Fund Accounting 1099 Processing by the McGovern Consulting Group

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Sage Fund Accounting 1099 Processing by the McGovern Consulting Group

  1. 1. www.mcgoverncg.com 1099 Processing Through Sage Fund Accounting Familiarization Session
  2. 2. Agenda <ul><li>Free Education Webcast </li></ul><ul><li>Software Version </li></ul><ul><li>Validating 1099 Vendors </li></ul><ul><li>Validating 1099 Amounts </li></ul><ul><li>Making Adjustments/Corrections </li></ul><ul><li>Processing Through Aatrix </li></ul>
  3. 3. Free Educational Webcast <ul><li>McGovern Consulting Group is committed to ensuring that our clients continue to develop their skills and knowledge. As part of that commitment we will be holding a Free Monthly Educational Webcast on Various topic. </li></ul>
  4. 4. Confirming Your Version <ul><li>You Must be on Version 11.2.0 to process 1099’s </li></ul><ul><li>To Confirm Your Version </li></ul><ul><ul><li>Accounting  Help  About </li></ul></ul>
  5. 5. What If I Am Not on Version 11.2 <ul><li>Three Ways To Get Upgraded: </li></ul><ul><ul><li>Login to the Sage Knowledgebase and Download the Software </li></ul></ul><ul><ul><ul><li>www.sagesoftwareonline.com </li></ul></ul></ul><ul><ul><li>Use the Sage Auto Update Feature Installed with Version 11.0 </li></ul></ul><ul><ul><ul><li>Start  Programs  Sage  AutoUpdate  Sage Auto Update Console </li></ul></ul></ul><ul><ul><li>Contact the McGovern Consulting Group to schedule your Piece of Mind Upgrade </li></ul></ul>
  6. 6. Who is Marked as a 1099 Vendor <ul><li>To Confirm – Who is Registered As a 1099 Vendor </li></ul><ul><li>Accounting  Reports  Lists  Vendor Information </li></ul>
  7. 7. Who is Marked as a 1099 Vendor <ul><li>Select the Default report called <Default and 1099 Information> </li></ul><ul><li>On the Content tab select “Issue 1099” and move it up to the first position using the blue arrow up </li></ul><ul><li>On the “Issue 1099” Change the Sort Description to “Desc” </li></ul>
  8. 8. Who is Marked as a 1099 Vendor
  9. 9. Who is Marked as a 1099 Vendor
  10. 10. Who is Marked as a 1099 Vendor <ul><li>Since changes have been made to the default report you will need to assign a new report name and save it. </li></ul><ul><li>Review this report to ensure that appropriate vendors are marked as 1099. </li></ul>
  11. 11. Reviewing the Cash Journal <ul><li>To confirm what box number has been used when processing transactions, run the Cash Journal report </li></ul><ul><li>Accounting  Reports  Journals  Cash Journal </li></ul>
  12. 12. Reviewing the Cash Journal <ul><li>The default report will displays the current years dates and will need to be changed to last years dates </li></ul>
  13. 13. Reviewing the Cash Journal <ul><li>Once you Change the Dates Assign a new report name to the Report. </li></ul><ul><li>You will need to go to the filter tab and move “Vendor Issue 1099” from the right hand side to the left hand side </li></ul>
  14. 14. Adjustments <ul><li>If in your review there are Vendors that have the wrong box number or are not listed with a 1099 Amount at all you can update it through the Vendor File – booking a top side adjustment for 1099 reporting purposes only. </li></ul>
  15. 15. Adjustments <ul><li>Accounting  Maintain  Vendors </li></ul><ul><li>Click on the 1099 Tab of the Vendor record </li></ul>
  16. 16. Adjustments <ul><li>Here is where you can: </li></ul><ul><ul><li>Confirm the Vendors tax information </li></ul></ul><ul><ul><li>Make adjustment </li></ul></ul>
  17. 17. Adjustments <ul><li>Once all of your adjustment are done re-run the Cash Journal to review results </li></ul>
  18. 18. Processing 1099’s
  19. 19. Processing 1099’s <ul><li>Accounting  Activities  Produce Vendor 1099’s </li></ul>
  20. 20. Processing 1099’s <ul><li>Always Update Your Forms if Available! </li></ul><ul><li>After you Update – Close and Re-Open the Produce Vendor 1099’s </li></ul>
  21. 21. Processing 1099’s <ul><li>When you Click on OK it will start the wizard – read each screen carefully and ensure the information that it is pulling is correctly. This information is in your database </li></ul>
  22. 22. Processing 1099’s <ul><li>If the information is not correct the majority of it can be fixed by logging into the Administration Module  Organization  Organization Information. </li></ul>
  23. 23. Should You Have Additional Questions Contact Us: McGovern Consulting Group, LLC 888-876-1544 www.mcgoverncg.com

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