OpenAccounts and 1099's

As the New Year approaches, many of you will be planning for your 1099 requirements. The purpose of this information is to outline your options and the support available through the OpenAccounts North American Center of Excellence at ACUMEN Corporation.

OpenAccounts Version 5.0

OpenAccounts provides the following support for 1099 processing in their release of Version 5.0:

The 1099 Inquiry/Maintenance program (PL37) has two print formats - one to list 1099 suppliers, the other to show a financial summary for each supplier for a given year. Both of these reports also produce an export file in a format suitable for an external system.
The 1099 recalculation includes voided and cancelled checks in the recalculation routine.
NOTE: The recalculation routine can be used to "reset" the 1099 tax details files, if you did not properly record 1099 payments throughout the year. This routine searches through paid transactions and records as 1099 payments, any paid transaction for a vendor that is specified as a 1099 vendor, where the transaction has been coded to an expense account that has been coded with a 1099 tax type. In essence this routine allows you to "re-capture" payments to vendors that are not coded as 1099 vendors until some point after payments have already been made to them.

1099 Print Programs

For greatest flexibility, OpenAccounts provides ascii file output of the required 1099 data fields, as noted above. These files can then serve as input to many of the 1099 print programs. Specifically, ACUMEN Corporation has partnered with Convey Compliance Systems, Inc., a "leading edge" 1099 printing product. Their product, 1099Convey Desktop Software for Windows, offers an inexpensive, accurate and reliable solution that allows you to import your data using the import wizard; and print your forms on plain paper to file either magnetically or electronically with the IRS. By using a 1099-specifc vendor, like Convey, you can be sure that your forms are up-to-date and compliant with the latest IRS regulations. Please note that the OpenAccounts/Convey integration is specifically designed for printing 1099-MISC forms; if you are required to print other forms, then please contact us to to discuss your requirements.

The Convey product is available for purchase on the web at www.convey1099.com. For those of you who purchased Convey in previous years, you may contact Convey to determine if upgrades are applicable to your version.

Convey provides support to its clients, which is one of the reasons that ACUMEN chose them as a 1099 partner. You are also invited to contact the ACUMEN Helpdesk if you have problems, questions, or other special needs. You may reach us via email (HelpDesk@ACUMENcorp.com or phone at 804-323-0467 x222.

1099 Print Instructions

A Microsoft Word document provides the technical instructions for interfacing OpenAccounts 5.0 to the Convey 1099 Print product. In addition, we have pre-formatted, tested, and included four mapping files that support the interface for typical OpenAccounts installations. While this interface is not part of the standard OpenAccounts product, we are providing this information as part of our commitment to the North American Center of Excellence. For most of you, this information should be sufficient for you to format and print your 1099 forms.

If you encounter data errors in the import, you have complex 1099 reporting requirements, on an earlier version of OpenAccounts, or using a printing product other than Convey, then you are welcome to contract with ACUMEN for additional consulting support to satisfy your requirements.

Please download (right-click and choose "Save Target As...") the technical document and the four mapping files below. The Word document explains how the four mapping files will be used.

Note: These sample documents were provided for Patch 7 of OpenAccounts. If name, address, or 1099 amount fields change in later Patches, then you may need to perform some tailoring to accomodate those changes.