For the 2020 tax year, the IRS introduced a new 1099-NEC form. This new form replaces the 1099-MISC for reporting non-employee compensation.
Sage has incorporated this update into accounts payable provided you are using the most recent versions.
What has been missing is the ability to set 1099-NEC boxes in the Purchase Order Module. Initially Sage indicated that this functionality would be added in a future release.
Recently Sage provided guidance on how they would add 1099-NEC functionality for those who rely on purchase orders.
The following Sage 100 versions will receive an update adding 1099-NEC functionality to purchase orders (Estimated release – Spring 2021 ):
Sage 100 2021
Sage 100 2020 Update 2
Sage 100 2019 Update 5
