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Good afternoon. We have many customers asking if GP will be ready for the new required 1099-NEC forms that are replacing 1099-MISC box 7. One company is planning an upgrade just due to this requirement so we need to know that it is going to be there. Can you let us know when it will be in GP? We have 18.2 installed w/latest SP and still do not see this. Getting worried as we need to move most vendors to new form.
Thank you!!
This link should provide what you need.
The hotfix is out. It doesn't speak to the alignment issue. At least in the write-up.
community.dynamics.com/.../microsoft-dynamics-gp-january-2021-hotfix-now-available
Jon456,
I just upgraded a customer with some 50 companies in GP and many of their databases ran into issues with the upgrade on the 1099 table (PM00204). They were on GP 2016 and went to 18.3.1200.
As Richard pointed out, Microsoft will release next week a January fix to address some of those issues, but the above problem was already documented.
community.dynamics.com/.../microsoft-dynamics-gp-fall-2020-update---known-upgrade-issues
About 50% of the companies stopped during the upgrade on that PM00204 table issue.. It's an easy fix and you don't even have to restart GP Utilities.. just backup the table content, empty the original table, keep updating the company DB and when done, restore the table content from the backup table (as described in the blog post).
Most of the companies that failed were recent used ones that do actually have 1099 vendors, the other companies were likely dormant for several years and had no recent years data in the 1099 table.
Richard is correct. The 1099-NEC form is available in the year-end update. (18.3.1200) Here is the year-end Blog article link below about the 1099 NEC form.
There is a good Q&A section at the end. There have also been some alignment issues, in which you can download some modified package files in Question 11 at the bottom of this blog: Question 10 has a link to the security role scripts needed to access the form.
Hope that helps!
Cheryl Waswick
Microsoft Support
GP 18.3.1200 was made available last month. There is also a January Hotfix planned for this coming Tuesday to correct a minor alignment issue. These updates contain the updated 1099-NEC.
Good afternoon. We have many customers asking if GP will be ready for the new required 1099-NEC forms that are replacing 1099-MISC box 7. One company is planning an upgrade just due to this requirement so we need to know that it is going to be there. Can you let us know when it will be in GP? We have 18.2 installed w/latest SP and still do not see this. Getting worried as we need to move most vendors to new form.
Thank you!!
[/quote]All businesses must file a Form 1099-NEC form for nonemployee compensation if all four of these conditions are met,It is made to someone who is not your employee,It is made for services in the course of your trade or business,It was made to an individual, partnership, estate, or corporation,The payments made to the payee were at least $600 or more for the year FaceTime for PC.
Thank you Cheryl,
That's what I was looking for !
Have a great day.
Beat,
The security roles are included in the txt included in this blog:
Cheryl,
One customer came up with the complaint they cannot print the 1099-NEC reports in GP after the YE-update was applied (18.3.1200).. I realized that the security task in GP ADMIN_PURCH_007* doesn't include the 2 new reports "1099 Laser Non Employee Compensation" & "1099 Non Employee Compensation".. Was there a security SQL script to run after the update to fix that ?
Thanks
Just a note that the 1099 utility will also change the settings on the Vendor card at the same time.
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