1099 processing is only available for Coins ERP+ companies that have been defined as USA companies. Non-USA companies do not have 1099 data entry tabs or menu items displayed.
This chapter describes the general setup maintenance needed in order to perform 1099 processing in Coins ERP+.
Confirm Company Location Set to USA
Go to System > Company Setup > Configuration > Company Parameters. Check that the Parameter COMPLOC (Company Location) is set to USA.
Company Parameters
Verify 1099 Information is Populated for Suppliers and Subcontractors
Go to Central Repository > Companies.
If you have already identified the companies that will require a 1099, perform only one of the options given below, based on how the CI parameter CENTVAT is set.
Option #1:
If the CI parameter CENTVAT (Procurement > Setup > Configuration > CI Parameters) is set to Y, you can only update the Tax Reg No/TIN Number on the Company’s Main tab (Central Repository > Companies > select Company hyperlink > Company tab > Main sub tab). Once you have done that, save the record. You must then go to the 1099 Info tab to enter the remaining information and save that record.
Main Tab
Option #2:
If the CI parameter CENTVAT (Procurement > Setup > Configuration > CI Parameters) is set to N, you can only update the 1099 information on the Company’s 1099 Info tab shown in (Central Repository > Companies > select Company hyperlink > 1099 Info tab). After you have reached the 1099 Info sub tab, open, edit, and then save the record.
1099 Info Tab
Print A 1099-MISC Form For This Company
Check this box to indicate that a 1099-MISC should be generated for this company.
Print A 1099-NEC Form For This Company
Check this box to indicate that a 1099-NEC should be generated for this company.
TIN Type
Select the Tax Identification Number Type from the drop down. Choices are EIN (Employer Identification Number), SSN (Social Security Number), and Unknown.
TIN Number
Enter the numeric Tax Identification Number.
Box To Print 1099 Amount
This box will only be available if Print A 1099-MISC Form For This Company is selected. From the drop down box, select the default box on the 1099 form in which to place the 1099 dollar amount. Valid choices are: 1, 2, 3, 5, 6, 8, 9, 10, 11, 12, 14, and 15; these numbers refer to the boxes on the printed 1099-MISC form.
If Print A 1099-NEC Form For This Company is selected, this box will not be available.
Bank Account Number
This optional data is the bank account number of the supplier or subcontractor company.
Alternative 1099 Name
The alternative name that overrides the supplier/subcontractor company name printed on the 1099 form.
Direct Sales of Over $5000 to Buyer for Resale
Select this checkbox if it should be checked on the printed 1099-MISC for this Company.
Foreign Payee
If the Company is a Foreign Payee, check this box.
FATCA
Select this checkbox if it should be checked on the printed 1099-MISC for this company.
If you have not yet determined which companies will require a 1099, or you want to check the 1099 settings on all or selected companies, do the following:
Use the filters on the Companies Workbench to filter for selected companies only; for example, Subcontractors only.
Click the Print (
) button to print 1099 information about each company. The Fields screen shown below appears.1099 Fields
Select fields in the Available column and use the single arrow Add to List (
) to move those fields to the Selected column. Likewise, select fields in the Selected column that you do not want to include, and use the single arrow
to move them to the Available column.
The multi-add Add All (
) and multi-delete Delete All (
) arrows add or remove all fields.Make any desired changes on the Output Options tab.
Click the
button to submit your report request.Both a PDF report and an Excel file are generated, as shown below. Go to Report Status to access the Excel file as well as the report, if it was generated in the background.
PDF Format Report
Excel Format File Report
