Good-Bye 2020! 2020 was a year that no one will forget and one that brought challenges to us all.

So, in light of 2020, the IRS has decided to change things up for the 2020 1099.  The most significant change to the form in 2020 is the breakout of NEC from Bix 7 of Form 1099-Misc to its own form 1099-NEC.  NEC still includes payments of $600 or more for services of nonemployees and attorneys, but these types of payments will now be reported in Box 1 of the new 2020 Form 1099-NEC.

Sage provided updates to the following Sage 100 versions – 2018, 2019 and 2020, but you need to be on the latest product update to generate the new 1099’s:

• 2018 Product Update 10
• 2019 Product Update 4
• 2020 Product Update 1

If you are on a version older than 2018, it will not be compliant, and Sage will not provide a fix.

Please find below the following options for you to generate 1099’s for 2020:

1. Install the latest product update
2. Perform a server migration and install product update to a non-working environment (this is used if you have customizations)
3. Export the data and pay a 3^rd-party application, like Aatrix, to print your 2020 1099’2
4. Have your accountant generate your 1099’s

Please note that although 1099’s is supposed to be generated at the end of the year, the IRS gives until January 31^st of 2021.

Please contact Net at Work or your account manager if you need further information regarding the above.