1099 Processing

When you enter a vendor record, you indicate whether to produce a 1099-MISC or a 1099-NEC form for the vendor. The 1099-MISC form summarizes your payments to the vendor for the year. Likewise, the 1099-NEC form summarizes any nonemployee compensation you paid.

Send a copy of the form to the vendor and the Internal Revenue Service. If you have more than 250 forms, you must apply for approval to file electronically. Review the most up-to-date publication containing the electronic filing procedure guidelines from the Internal Revenue Service.

You can use either the 1099 payments year-to-date or the last-year amounts to prepare 1099-MISC forms. If you have transferred 1099 year-to-date amounts to last year during periodic maintenance, use the last-year amounts; if not, use the current-year amounts.

There may be some limitations on your ability to submit magnetic media. Consult the IRS regulations for more information.

Traverse does not support payment amounts over $9,999,999,999.99.

  1. Use the Data Filter to select the range of filtering options or leave the filter blank to include all available data.
  2. Select the fiscal year for which you want to generate the 1099-MISC or 1099-NEC forms from the Year field.
  3. Click the Generate button to calculate vendors' 1099 payment totals based on the selected criteria.
  4. Add, delete, or edit the 1099 vendor records as necessary.
    Note: You can only edit the Account Number, Name, Name Control, Amount, 2nd TIN Not, Form Code, and Foreign Addr (Y/N) fields.
  5. Click a command button to   
    6. Click To
    Activity View the activity log for magnetic media output.
    Reset Set all fields to their default values.
    Header Edit 1099 magnetic media header information.
  6. Click the Save button to save any changes made to the 1099 vendor records.
  7. Click the Output button to select how to output the generated 1099 information.
    8. Select To
    1099-MISC Forms Print 1099-MISC forms in a format defined by the government.
    1099-NEC Forms Print 1099-NEC forms in a format defined by the government.
    Worksheet Produce a worksheet that lists the 1099 vendors.
    Worksheet-NEC Produce a worksheet that lists nonemployee compensation.
    Magnetic Media Produce a file containing the 1099 information.
    1096 Summary Form Print 1096 Summary form in a format defined by the government.
    1099-MISC XML Produce a Nelco-formatted 1099-MISC XML file. Applicable only to the E-Filing/Nelco solution.
    1099-NEC XML Produce a Nelco-formatted 1099-NEC XML file. Applicable only to the E-Filing/Nelco solution.