Scenario
Users already installed the Bundle for 1099 Report which consists of Saved Searches that can help on gathering information about the payments made to 1099 Eligible vendors.
This article will have the list of the most common concern being encountered on the Saved Search and the ways to resolved them
Solution
1. No result showing when opening the Saved Searches
Make sure to setup the following:
a.) On the Vendor Record > Financial tab > 1099 Eligible is marked
b.) On the accounts (GL Impact accounts, for example Expense Account) > 1099-MISC Category field is filed up
For more details on how to setup the above mentioned, you may view SuiteAnswer#1196 Using Vendor Records for 1099 Contractors
2. Amounts are doubled or tripled
This is happening when there are duplicate Address on the Vendor record. The possible solution for this is to:
a.) Click on Edit this Search
b.) Change the name of the search on the Search Title field, for easier reference later on
c.) Then on Criteria field > Filters > add Vendor Fields... > Default Billing Address = Yes
or
Users may also opt to remove the duplicate Address on the Vendor record
3. Vendor is showing multiple times
This is happening when there are multiple different Address on the Vendor record. The possible solution for this is to:
a.) Click on Edit this Search
b.) Change the name of the search on the Search Title field, for easier reference later on
c.) Then on Criteria field > Filters > add Vendor Fields... > Default Billing Address = Yes
d.) Click Save As
4. Amounts shown are correct but they have negative value
For amounts to show as negative on a Saved Search results, the nature of the account impacted as well as the impact of the transaction being pulled up have to be considered. When the impact of the transaction is the opposite of the Account's Normal Balance, negative amount will be shown on the Saved Search Results.
For more information you may check SuiteAnswer#39342 Amounts Are Showing Either Negative or Positive on the Saved Search Results
Possible solution is:
a.) Click on Edit this Search
b.) Change the name of the search on the Search Title field, for easier reference later on
c.) Then on Results field > Fields > edit the formula for the box showing negative amount, then change the {amount} formula to ABS{amount}.
d.) Click Save As
5. Checks are not showing on the Saved Search
The Saved Searches have criteria Date Closed, however Checks do not have Date Closed. This scenario is well documented on SuiteAnswer#90255 1099 Vendor Payment Report > Saved Search > Not reflecting check transactions
To resolve this kindly try:
a.) Click on Edit this Search
b.) Change the name of the search on the Search Title field, for easier reference later on
c.) Under Criteria Tab > mark Use Expressions checkbox, make the following changes:
- Parens: ( |Filter: Type | Description: is any of Bill,Bill Payment, | And/Or: And
- Parens: ( |Filter: Status | Description: is none of Bill:Open, Bill:Pending Approval, Bill:Rejected | And/Or: And
- Date Closed: is within last year | Parens: )) | And/Or: Or
- Parens: ( |Filter: Type | Description: is any of Check | And/Or: And
- Parens: ( |Filter: Status | Description: is Check:Voided, Check:Online Bill Pay Pending Accounting Approval | And/Or: And
- Date: is within last year | Parens: )) | And/Or: And
- Filter: Vendor : 1099 Eligible | Description: is true | And/Or: And
- Filter: Account : 1099-Misc Category | Description: is not none
d.) Click Preview or Save and Run
6. 1099 Vendor Payment Report - MISC does not populate the Box 7. Nonemployee Compensation, even when Vendor and Account is properly setup.
The IRS redesigned the Form 1099-MISC due to the creation of Form 1099-NEC (will be used to report Non-employee compensation - formerly box 7 of Form 1099-MISC. To follow this the Box 7. Nonemployee Compensation will now show on the result of 1099 Vendor Payment Report - NEC Saved Search under Box 1.
Disclaimer
You are responsible for the information that you report to the Internal Revenue Service (IRS). The saved search provided by NetSuite might not include all of the information that you need to report. Review the output of the saved search for accuracy before you export the data to a provider.