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I was wondering if we need to update GP to accommodate the new 1099-NEC form.  In the past we have used the 1099-MISC and put non-employee information in box 7.

Thanks, Danita

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Danita Simon
Senior Accountant
Detroit Metro Convention & Visitors Bureau
Detroit MI
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Hey Danita

MS had included the 1099-NEC in both the fall release that came out in October as well as the YE that came out on the 20th of November.

If you have been using GP to print 1099 forms, yes you are required to upgrade. This is MS's happy path forward.

We did and are happy we took MS's happy path.

Good luck.

Cheers

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Dynamics GP Credentialed Pro (Install)
Ven Sharma
Finance and Admin Systems Administration
American Public University System (APUS)
Charles Town WV
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Original Message:
Sent: Dec 22, 2020 09:52 AM
From: Danita Simon
Subject: new 1099-NEC form

I was wondering if we need to update GP to accommodate the new 1099-NEC form.  In the past we have used the 1099-MISC and put non-employee information in box 7.

Thanks, Danita

------------------------------
Danita Simon
Senior Accountant
Detroit Metro Convention & Visitors Bureau
Detroit MI
------------------------------

Hi  @Danita Simon

The short answer is that the US Gov't is requiring a 1099-NEC (non employee compensation) be a separate form this year.  As a result Microsoft has updated the code and it is available for GP2016 and greater.

So, if you plan to use GP to print the 1099's for Non Employee Compensation (the old box 7) you will have to update your GP to the year end update for your version.

If you are on a version less that GP2016 there are some alternatives to getting them printed that you can research, but if you want to use GP you will need to update.

Best of luck!!

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Jo deRuiter
🌟 GPUG AllStar 2019
💫Granite Award Winner 2018,2019
Atlanta Chapter Leader
Credential Council Co-Chair
Aisling Dynamics Consulting, LLC
ERP Practice Manager
jo.deruiter@aislingdynamics.com
9518674366
Alpharetta, GA
aislingdynamics.com
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Original Message:
Sent: Dec 22, 2020 09:52 AM
From: Danita Simon
Subject: new 1099-NEC form

I was wondering if we need to update GP to accommodate the new 1099-NEC form.  In the past we have used the 1099-MISC and put non-employee information in box 7.

Thanks, Danita

------------------------------
Danita Simon
Senior Accountant
Detroit Metro Convention & Visitors Bureau
Detroit MI
------------------------------

I just posted a blog article about dealing with the new 1099 form: https://trainingbyamberbell.com/2020/12/29/training-dynamos-survival-guide-for-microsoft-dynamics-gp-and-the-new-1099-nec-form/

It has information about the update/upgrade from Microsoft, as well as, options on how to generate 1099's if you cannot do the update/upgrade.

Let me know what you think!

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Amber Bell
Training Dynamo LLC
Email: amber@trainingdynamo.com
Website: www.trainingdynamo.com
Twitter: @trainingdynamo
------------------------------

Original Message:
Sent: Dec 22, 2020 09:52 AM
From: Danita Simon
Subject: new 1099-NEC form

I was wondering if we need to update GP to accommodate the new 1099-NEC form.  In the past we have used the 1099-MISC and put non-employee information in box 7.

Thanks, Danita

------------------------------
Danita Simon
Senior Accountant
Detroit Metro Convention & Visitors Bureau
Detroit MI
------------------------------