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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / payroll and 1099misc
Microsoft Dynamics GP (Archived)

payroll and 1099misc

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Posted on by Bryan Jones 120

We are wanting to record all reportable income to the IRS through the payroll module in GP2010. These workers are contract workers so there are no taxes taken out of their pay. The question I have, is there a way to print the 1099misc forms out of payroll? Using payables is not a solution and I know that is where this would normally be recorded but payroll is what we want to use because we also need to print 1099r forms as well and we do not want the data in different modules. Is there a 3rd party program available or a way for gp2010 to handle this? I see where can record business expense but I am not sure how that prints in gp and these workers do not receive a w-2 form. Thanks for all your help.....

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  • Verified answer
    Douglas Karel Profile Picture
    Douglas Karel 2,140 on at

    Bryan - The payroll module will not print the 1099-MISC.   I am not offering tax advice, but I think you would want to keep the contract workers seperated from employees or retirees.   The reason is there is actually a very fine line between who is a contract worker and employee, in the eyes of the IRS.    Comingling the two could be a flag in an audit that might then force you to treat those contractors as employees.   Which would be expensive.

    The business expenses that can be recorded in payroll for employees can be set up to be non-taxable.   Where this comes in handy is that you would not need to have your employees set up as vendors just to reimburse them for expenses.    Another plus to this the dollar amount can be direct deposited along with their paycheck (if you use direct deposit).    

    Payroll will print the 1099-R (Distributions from Pensions\Retirement).

  • Verified answer
    L Vail Profile Picture
    L Vail 65,271 on at

    Hi Bryan,

    I agree with everything Douglas said. If you must use the payroll module, using the expense reimbursement to pay your contractors is the way to go. I'd set up a separate code for the contractors so that you could easily import the information into a 1099 software program.I have used the YES (Year End Solutions) software for years and it does everything I've ever wanted it to do. Newport Wave is the company that sells it.

    Kind regards,

    Leslie

  • Bryan Jones Profile Picture
    Bryan Jones 120 on at

    Thank you both for your help. I think I now have enough information to proceed.

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