The question of how to generate data from Orchestra to complete a 1099 comes up often when companies start filing taxes.
Although Orchestrated does have the ability to generate 1099's, we have found that it's easier to do it manually.
The main reason is that everything has to be setup at the beginning of the fiscal year in order for it to be accurate. If you are wanting to do this after the fact, then you will have to wait until the following fiscal year or dedicate an exorbitant amount of time to reconcile the differences.
Further compounding this fact is that you have to mark all existing and new vendors as 1099 applicable and ensure that the invoice is flagged as a 1099 applicable invoice as well. Complicating the matter is the fact that you cannot flag invoices retroactively and, going forward, if an invoice is inadvertently omitted from being included in the 1099 calculations, there is no way to go back and re-mark it.
Even if everything is done correctly, the system feature in the platform generates minimal 1099 information and you have to do quite a bit of work/setup to get it to run correctly.
We are developing a better way to deal with 1099s but currently, because of these reasons, we recommend that 1099s be dealt with outside of Orchestrated.
We recommend using the aging reports within Orchestrated. It will show you all payments, posting date, and amounts based on your date range you've set. If you need to see all payments ever made to that vendor, you can drill directly into the Vendor and then drill in again to the Account. That would show you all transactions with that vendor (after you modify the search parameters in the upper right hand corner).
Below are some specific details about two reporting currently options available within Orchestrated:
Option 1: Vendor Liabilities Report
Location: Business Partners > Business Partner Reports > Aging > Vendor Liabilities Aging.
In the selection criteria for this report, you can select: ‘Display Vendors with Zero Balance’ and ‘Display Reconciled Transactions’ so that you have a complete listing of transactions.
Pros: This report will provide you with a comprehensive list of payments made to all of your vendors which can then be exported to Excel
Cons: This report includes additional transactions that must be filtered out. After exporting to Excel, this can be post easily done for each vendor by filtering for the PS document type which corresponds to an Outgoing Payment.
Option 2: Outgoing Payments by Vendor
Location: Banking > Outgoing Payments > Outgoing Payments
- Open the Outgoing Payments window
- Press Ctrl+F or the binoculars icon to enter Find Mode.
- Enter the BP Code for the Vendor you want to see and click "Find" (or leave blank for a full list of vendors to choose from).
- This will bring up a list of every Outgoing Payment to that Vendor, and you can use Form Settings to add/remove columns to display the information that you would like to see: Form Settings
- You can then export that window to Excel and remove any payments from previous years.
Pros: There will be less data to filter through to see your results
Cons: This report will need to be generated for each vendor individually and dates outside of 2015 will need to be manually filtered out.