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When D365 will update the new 1099 form NEC, all vendors.
Will D365convert all vendors setup as 1099-misc box 7 to form 1099-nec box 1 automatically or will we have an extensive manual process after a system update to change our vendors?
Hello Dole - When there are changes to 1099 reports, our Dev Requirements group start working on Forms around October/November. They typically wait until this time in case the IRS has made any changes/updates to requirements up to that point. Only after this time they will determine if this will be a manually or automatic process.
Let me know if you have any further questions.
Thanks Andy , I appreciatte your answer
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