Sage 100 Newsletter – Q3 2020
Keeping You Up-To-Date With Information About Sage 100
Sage 100 1099-MISC / 1099-NEC
As many of you know, the IRS has created a new form to handle Non-Employee Compensation, called the 1099-NEC. In the past, 1099-MISC would handle non-employee compensation in box 7, however, when you file for the year 2020, you will need to use the 1099-NEC for non-employee compensation over $600.
At this time, Sage is working on program changes to handle this issue, but only for versions 2020, 2019.3 and 2018.9.
In Vendor Maintenance, there will be an additional option available under the 1099 Default Form called nonemployee Comp:
We expect an announcement from Sage as to how to move the Vendor 1099 detail into the correct 1099 form, and we will keep you informed on that process.
At the end of the year, Aatrix will of course have the 2 1099 form options available.
If you are not on a current version of Sage 100, please reach out to your Net at Work Account Manager or Consultant.