The Sage 50 accounting software is highly appreciated by the business community and accounting professionals across the world for its amazing tools and features. This popular software helps businesses and professionals save a lot of their time and effort.
The Sage software is also empowered with useful functions to assist you in the e-filing of taxes. The Sage 50 software has been updated with enhanced capabilities so that you can file the new 1099-NEC forms with ease. These forms are needed to report non-employee compensation. This feature is now available through the Sage 50 tax update. You can also avail it through the Aatrix year-end update.
In this blog, we will look at
Here we go!
What is Sage 50 1099 NEC Template?
In Sage 50, you can create your own 1099 NEC template. It will allow you to print 1099 NEC forms through your Sage software.
Also Read-: Sage 50 to Submit for E filing Error 10061
How to Carry Out E-filing in Sage 50
Please follow the sequential steps below-
Total Time: 30 minutes
Select the Form
🔷 Go to the Employees & Payroll section
🔷 Click on Forms
🔷Choose Federal Forms /Reports & Forms,
🔷 Now click Tax Forms.
🔷 Double-click on Payroll Tax Forms
🔷 Browse to the Available Forms section
🔷 Select the [Year] 1099-INT [Year] or 1099–MISC
🔷 Specify the Filing period as Yearly
🔷 Specify the correct year
🔷 Click OK
🔷 The 1099 Setup Wizard window will be displayed on your screen
🔷 Specify your preferred option,
🔷 Click Next
Verify the Information
🔷 Verify if the Payer Identification Number is accurate
🔷 Specify the correct EIN/SSN
🔷 Click Next
🔷 Check Payer information
🔷 Click Next
🔷 Specify the correct Tax Preparer Type
🔷 Click on Next
🔷 The Third-Party Preparer Information window will come up
🔷 Provide the details in the fields earmarked
🔷 Click Next
🔷 Check whether each of the State and Locality authority/item is entered correctly
🔷 Click on Next.
🔷 Select the relevant options on the Data Verification window
🔷 Click Next.
🔷 Select suitable options on the Recipient Identification Numbers window
🔷 Click on Next
🔷 Select suitable options on the Multiple Data Files window
🔷 Click Next.
🔷 The W2/1099 Preparer worksheet will appear
🔷 Please make sure that the information highlighted in blue color is correct
🔷 Click Next Step
🔷 Now verify the highlighted information
🔷 Click Next Step till the 1099 Printing and Filing Options window appears on your screen
E-file and/or Print the 1099s
🔷 Choose Select My Own Options / Complete 1099 e-filing Service.
🔷 To print, the forms click Select My Own Options
🔷 Now specify the forms you need to print
🔷 Click Next
🔷 Verify the selections you specified on the previous page
🔷 Click Next.
🔷 Select your option for divider sheets
🔷 Click Next.
🔷 Click Next again to Review Data.
🔷 Now click Next Step
🔷 Click OK.
🔷 Click Next Step. Repeat to review all the forms.
🔷 If you have chosen the e-file option, the Aatrix Secure e-file window will be displayed
🔷 Follow the instructions to complete the process.
Also Read-: How to Print an ROE and or How to Adjust it
Conclusion:
We hope the sequential steps mentioned above have cleared all of your doubts related to E-filing 1099 NEC forms in Sage 50. If you still have some queries or, if you are having any difficulties in carrying out these steps, we would recommend you to consult with some authorized Sage experts.
💠Frequently Asked Questions💠
How can I Print/e-file the State Quarterly Forms?
Please follow the steps below-
▪ Click on the Reports and Forms section
▪ select Forms
▪ Click Tax Forms.
▪ The Select a Report or Form window will appear on your screen
▪ Double-click on the Payroll Tax Forms tab
▪ Click on the State form type
▪ Select your state.
▪ Highlight the state for which you need to print or e-file.
▪ Go to the select filing period section
▪ Now select the year and quarter
Note: In case you select a new form, you will need to select the year and quarter you prefer again.
▪ Click OK
▪ Follow the instructions appearing on your screen
What are the points I should consider before Installing the Sage 50 2022 Payroll Tax Updates via Automatic Updates?
please keep in mind the points below-
▪ Make sure to take a proper backup of the company data
▪ Note down the proper location of your existing payroll data for future reference
▪ Save the payroll tax updates in a suitable location on your system
How to Print or E-file the 941/941B Federal Tax Forms?
▪ Go to the Reports and Forms menu
▪ Select Forms
▪ Go to the Tax Forms.
▪ The Select a Report or Form window will appear on your screen
▪ Double-click on Payroll Tax Forms
▪ Click on the Available Forms box
▪ Choose the current 941/Schedule B/941-V Report.
▪ Open the select filing period section
▪ Select the year
Note: If you select a new form, you should select the year once again.
▪ Click OK
▪ Follow the instructions appearing on your screen
