Starting with the 2020 tax year the IRS has updated the 1099 form and added the 1099-NEC which replaces some of the reporting on the previous 1099-MISC form.
An updated utility was released on December 15, 2020, which allows for moving data that may have been in open A/P invoices. Read the Sage KB entry here for more information and to download the utility.
The IRS have essentially removed the non-employee compensation reporting from the 1099-MISC and added it to form 1099-NEC.
You can review the 2020 rules for form 1099-MISC and 1099-NEC here.
For the purpose of Sage 100 1099-NEC reporting you will need to be on one of the following Sage 100 or Sage 100cloud versions.
The new form 1099-NEC Nonemployee Compensation was included in Sage 100 versions 2020.1, 2019.4, and 2018.10 only. This will also include changes to 1099-MISC.
A utility is available to allow customers to move data already updated in year 2020 from the 1099-MISC Form Box 7 Nonemployee Compensation box to the 1099-NEC form Box 1 for year 2020. This utility should only be used as a one-time tool for tax reporting year 2020 only. See AP_Update1099s_utl.pdf or details on how to use this utility in Sage 100 2020, 2019.3, and 2018.9.
