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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / SL Updates for new 109...
Finance | Project Operations, Human Resources, ...
Answered

SL Updates for new 1099-NEC form

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Posted on by John_Joyce 1,042

I've been trying to find some info at PartnerSource but not succeeding. As you may already know, the 1099-MISC form is being split into two forms, with a new 1099-NEC form starting this year. Box 7 Non-Employee Compensation will now be on this new form.

I’m trying to find info on what versions of SL will be updated for the new form (and revision to the old form). I’ll assume SL11 will not be updated, but want to find out if SL15 will be. Here’s some info on the new 1099-NEC form: 

https://www.pkfod.com/insights/new-irs-form-1099-nec-nonemployee-compensation-for-2020-payments/

 

Does anyone have any info related to this?  

Thanks,

John Joyce

Senior Applications Consultant

JJoyce1215@gmail.com

(781) 704-7515

 

I have the same question (0)
  • Douglas Crandall Profile Picture
    Douglas Crandall 5 on at

    Hi John,

    I am looking for the same update to prepare for the newly required 1099-nec form. Any update you can find on this would be appreciated.

    Douglas Crandall

    Moran Shipping Agencies

  • Verified answer
    Mark E Profile Picture
    Mark E 6,451 on at

    According to Jeff Suwyn in this post below, only SL 2018 will be getting YE updates as it is the only version still in mainstream support.  Plumbline offers solutions for older versions at a cost.

    www.dslug.com/.../viewthread

    Year End Updates are available for SL versions in mainstream support, which is currently only SL 2018

    Year End updates include: :

     -New 1099 NEC form

     -Updated 1099 MISC form

     -Support for Standard and High Withholding for state deductions

     -Allowing different marital status for state and federal exemption and credits


    Release time frame:  December 2020

    All versions of SL 2018 will have year end updates available.
    Note: SL 2018 CU5 will release at the same time as the year end updates and include the year end updates

    Customers not on SL 2018?

    Please contact Valerie Borak at Plumbline to discuss options for SL 2011 and SL 2015

    vborak@plumblineconsulting.com

  • CFROTON Profile Picture
    CFROTON 4,710 on at

    Dear John,

    To confirm the answer to this question and regarding the versions with updates

    Microsoft updates will only be for SL 2018 (CU1, CU2, CU3, CU4).  CU5 will have the YE reporting changes included.

    Plumbline Consulting is releasing YE updates for SL 2011 FP1, SP2 and SP3, and SL 2015, 2015 CU1 and CU2.  The PCL updates for prior versions will have to be purchased.  Not sure of the cost.  

    The SL 2018 updates are obviously free for users that have support plans.

    -----

    Will there be an update to the SL 1099 electronic filing with the year end update?

    Yes.  There will be electronic files for both forms, 1099-MISC and 1099-NEC.

    Best Regards,

    Jana MacDonald

    MSFT Dynamics support

  • Suggested answer
    John_Joyce Profile Picture
    John_Joyce 1,042 on at

    From Plumbline's October Newsletter:

    Year-End Updates for SL 2011 and SL 2015 

    We at Plumbline want to make sure all Dynamics SL customers can have a smooth year-end closing. With the knowledge that SL 2011 and SL 2015 are no longer in mainstream support and will not be receiving the normal year-end updates from Microsoft, Plumbline is here to provide you with a package to help!

     

    Plumbline's SL Year-End Update Subscription will provide you with all of the year-end updates that Microsoft will be releasing for SL 2018.  

    • Applicable Dynamics SL versions include: 
      • SL 2011 SP2, SP3, FP1 and SP5
      • SL 2015 (all versions)
    • At this time, the package features include: 
      • Add the ability to have 2 sets of tab tables (standard and High Withholdings) for state deductions
      • Allow different marital status for state and federal deductions and exemptions and credits
      • New 1099- NEC Form
      • Updated 1099-MISC Form   
    • Cost to pre-purchase your Year-End Update Subscription is as follows*: 
      • Less than 100 Vendors or Employees combined - $2500 per year. 
      • More than 100 Vendors or Employees combined - $3000 per year.

                             *Cost of the subscription does not include installation services. 

     

    To purchase this package, contact your Microsoft Partner today. We know the end of the year gets busy so make sure you have your subscription paid for upon release to receive the package as soon as it is available!  

     

    Are you on Dynamics SL 2011 and purchased our year-end package last year?

    You can renew your subscription this year at last year’s pricing!*

    *only applies to SL 2011
  • CFROTON Profile Picture
    CFROTON 4,710 on at

    Bumping this for information on YE updates

  • John_Joyce Profile Picture
    John_Joyce 1,042 on at

    Carolyn, do you know if the Y-E updates will be re-released with bug corrections? I've read about issues with the SL18 CU1/CU2 updates. As it is year-end for most of my clients, they are not inclined to update to CU5 at this point, and merely want the designated Y-E updates for their supported SL18 version to work properly.

    Thanks,

    John

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