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1099 Reporting

The 1099-NEC and 1099-MISC can be used to report various payments, not issued through payroll, that have to be submitted to the IRS.

For information on the difference between the two, see 1099-NEC vs 1099-MISC or consult the IRS website.

Eligibility and Settings
Generate
Printing Adjustments

Eligibility and Settings

There are three required settings for a vendor to receive a 1099.

  1. The vendor must be marked as eligible for the 1099-NEC or 1099-MISC.
  2. A vendor ID must be entered.
  3. The vendor must be linked to at least one payment, or have a starting balance from transactions in the previous financial management system.

To update these fields, you can use the mass enter page: 

  1. Go to Financials Main > Setup > Vendors
  2. Click the three-dot menu in the upper-right corner and select Mass Enter 1099 Data
  3. Verify that you have the correct Calendar Year selected
  4. In the Eligible for 1099 column, choose 1099-MISC or 1099-NEC
  5. Fill out other columns with the required data
    • Report Income As is required for the 1099-MISC and cannot be used for the 1099-NEC.
    • Starting balances are applicable only to first-year clients. If you started using SchoolInsight Financials in July, enter the dollar amount paid to this vendor between January 1st and June 30th.
  6. Save Changes

You can also update vendors individually:

  1. Go to Financials Main > Setup > Vendors
  2. Search for a vendor
  3. Edit the General tab
  4. Fill out the vendor ID and tax form type, along with the Report Income As field if the vendor will receive a 1099-MISC.
  5. If a starting balance needs to be entered, go to the Tax Forms tab, ensure you have the correct Calendar Year selected, and Edit Starting Balance to input external YTD values from the first day of the tax year until the final day before the district began using SchoolInsight.
  6. Save

Generate

Once all vendor settings and year-to-date data is input, you may preview and generate the 1099-MISC, 1099-NEC, and the 1096.

To generate a 1099:

  1. Go to Financials Main > Payroll > Tax Forms
  2. Select the type 1099
  3. Choose the Form Type (1099-NEC or 1099-MISC)
  4. Choose the Format (see below)
  5. Check the Vendors to generate
    • By default, only vendors marked as eligible and with non-employer compensation over $600 are displayed, but these filters can be modified.
  6. Generate

Format

Description

Blank Paper

Prints the entire form, including the boxes. Each employee’s copies will print together.

Pre-Printed Stock

Prints only the values, for use with purchased 1099-MISC stock that already contains the boxes and field names. Use stock from one copy at a time. Read about Printing Adjustments before choosing this option.

Electronic File

Generates a .TXT file that can be uploaded online.

The 1096 can be generated from the Tax Forms page too, but you can only choose Blank Paper or Pre-Printed Stock. Separate 1096 forms must be submitted to summarize 1099-NEC and 1099-MISC data.

Printing Adjustments

When using the Pre-Printed Stock format, it’s important to make sure the values that SchoolInsight Financials prints are aligned correctly with the boxes on the stock paper. To ensure proper alignment, check your print settings:

  • The scale must be set to 100%
  • Double-sided printing must be turned off

It is recommended that you print a sample onto blank paper, then line it up with a piece of pre-printed stock.

Because of variation in printers, you may find that some slight adjustments are needed to ensure all text is aligned into the pre-printed boxes. If necessary, the top and left margins can be adjusted so that the printed data is shifted. On the Payroll > Tax Forms > 1099 page, uncheck Use Default Margins, and adjust the numbers. The default settings are 0.5” margins, so if the data is printing too high, you can try changing the top margin to 0.6” to push it down an extra tenth of an inch. You can experiment with these margin dimensions depending on which direction and how far the printing needs to be moved.