Accounts Payable - 1099 Processing eLearning

Accounts Payable - 1099 Processing eLearning

This self-paced course is designed to cover the processes of generating 1099-NEC and 1099-MISC forms in Accounts Payable.

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About this course

Note: For the 2020 tax year, the Internal Revenue Service (IRS) has introduced the new 1099-NEC form for reporting nonemployee compensation, such as payments to vendors. In MRI, the 1099-NEC form was made available in versions X.4.3.17 and X.5.7.3. This eLearning provides information about this new form, as well as 1099 setup, reports, worksheets, and the 1099-MISC form, which is still used to report some transactions processed in MRI.

Upon completion of this course, you will be able to:

  • Set up vendors, General Ledger accounts, and payers for 1099 processing.
  • Run the 1099 Preview Listing report.
  • Use worksheets to review, add, and override 1099 amounts.
  • Configure electronic filing details and the combined federal and state setup.
  • Process the 1099-NEC form for payments made to vendors.
  • Process the 1099-MISC form for attorney's fees and payments made to property payees.

Please note that the list price for this course is per user/attendee.

About this course

Note: For the 2020 tax year, the Internal Revenue Service (IRS) has introduced the new 1099-NEC form for reporting nonemployee compensation, such as payments to vendors. In MRI, the 1099-NEC form was made available in versions X.4.3.17 and X.5.7.3. This eLearning provides information about this new form, as well as 1099 setup, reports, worksheets, and the 1099-MISC form, which is still used to report some transactions processed in MRI.

Upon completion of this course, you will be able to:

  • Set up vendors, General Ledger accounts, and payers for 1099 processing.
  • Run the 1099 Preview Listing report.
  • Use worksheets to review, add, and override 1099 amounts.
  • Configure electronic filing details and the combined federal and state setup.
  • Process the 1099-NEC form for payments made to vendors.
  • Process the 1099-MISC form for attorney's fees and payments made to property payees.

Please note that the list price for this course is per user/attendee.