D365 Finance & Operations and Dynamics AX Forum

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  • 1.  1099-NEC form change

    SILVER CONTRIBUTOR
    Posted Nov 30, 2021 06:03 PM
    Hey everyone.  We went live on D365 this year and are running the most current version.  We're having 2 issues with 1099 forms.  First, it looks like the IRS has changed the 1099-NEC form so you have 3 forms per page (3 vendors) but D365 still has the form print format as 2 per page (2 vendors).  Has anyone heard when Microsoft is rolling out the update for that?  My second issue is that the 1099 detail report isn't reflecting all of the vendors payments I have the vendor sent to "report 1099" for.  I ran the 'update 1099 information for multiple vendors feature but that didn't solve the problem.  Has anyone else had this problem?

    Here's our D365 version info:

    Installed product version : 10.0.22 (10.0.995.51)
    Installed platform version : Update46 (7.0.6164.49)

    ------------------------------
    Brad Reeves
    Manager - Finance
    Bill And Hillary Clinton National Airport
    Little Rock AR
    ------------------------------


  • 2.  RE: 1099-NEC form change

    Posted Dec 01, 2021 07:52 AM
    Brad,

    Here is a link on 1099 information 1099 report revisions for 2021.  Supposedly the 3 forms per page will be available in January.

    As far as running the update 1099 information, I found that I had to change the vendor to a 1099-MISC or other option run the update and then change it back to 1099-NEC and run the update again.  A little tedious, but it seemed to work for us.

    Hope the above helps.

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    Milton Ferris
    Assistant Finance Director
    League of Minnesota Cities
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  • 3.  RE: 1099-NEC form change

    SILVER CONTRIBUTOR
    Posted Dec 01, 2021 10:06 AM
    Thanks for the idea Milton.  I changed my NEC-01 form vendors to MiSC-07 so it would change my vendors from the form 1099-NEC to 1099-MISC.  Ran the update procedure choosing to update all and recalculate.  Changed them back to 1099-NEC.  Ran the update again and unfortunately it didn't solve my problem.

    ------------------------------
    Brad Reeves
    Manager - Finance
    Bill And Hillary Clinton National Airport
    Little Rock AR
    ------------------------------



  • 4.  RE: 1099-NEC form change

    Posted Dec 01, 2021 11:06 AM
    Brad,

    Are you doing multiple vendor update or individual vendor updates?  In our situation, I went into each individual vendor to make the change to a different 1099 form, ran the update 1099 process while in the individual vendor information screen, saved it (and maybe even exited the vendor information screen-but I honestly don't recall if this step is/was needed), then went back into the vendor changed it back to NEC-01 and ran update 1099 process again.

    As noted previously it was tedious, but was a work around that worked for us and luckilyfortunately we had less than 100 vendors to update.  I know on the first change I tried, I even went into the vendor settlement for 1099s to make sure it updated the vendor from 1099-NEC to 1099-MISC and then back to 1099-NEC after running the update process again.  Once I knew the process worked, I proceeded to update all the vendors.

    Hope this additional information is useful and works for you.


    ------------------------------
    Milton Ferris
    Assistant Finance Director
    League of Minnesota Cities
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  • 5.  RE: 1099-NEC form change

    Posted Dec 01, 2021 10:23 AM
    Hi Brad,

    The update to the forms will be done closer to the end of the year, according to the information I received from Microsoft.

    I have not seen the issue where after running the update 1099 job that it did not bring values in.  Have you tried to do the update for just one vendor to see if the Multiple vendor option is the issue?

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    Stacy Black
    Senior Finance Consultant
    MCA Connect
    Mukilteo WA
    ------------------------------



  • 6.  RE: 1099-NEC form change

    SILVER CONTRIBUTOR
    Posted Dec 02, 2021 10:00 AM
    Thanks everyone.  I've tried updating individual vendors and using the multiple update process, including what Milton suggested.  Our D365 consultant is planning to run a quality update to see if that fixes it.  If it doesn't they're going to go to Microsoft next.

    ------------------------------
    Brad Reeves
    Manager - Finance
    Bill And Hillary Clinton National Airport
    Little Rock AR
    ------------------------------



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