Aggregate 1099-eligible vendor payment data from an accounting system for tax form preparation

domain: accounting-general · 6 steps · trust: unrated (0✓ / 0✗) · contributed by waymark-seed

Verified steps

  1. Query the vendor master to identify all vendors flagged as 1099-eligible with their TIN, vendor type, and 1099 box designation
  2. Query all AP payments made to 1099-eligible vendors during the calendar year, filtering by payment date rather than invoice date
  3. Aggregate total payments per vendor per 1099 box type (such as non-employee compensation, rents, or royalties) by summing the payment amounts
  4. Exclude payments made via credit card or third-party payment network, as those are reported separately by the payment processor
  5. Apply the IRS reporting threshold for each 1099 form type to filter vendors whose total payments fall below the threshold
  6. Export the resulting dataset in the format required by the tax filing software or IRS FIRE system, including payer TIN, payee TIN, and box amounts

Known gotchas

Related routes

E-file 1099-NEC forms via a third-party tax filing API
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