1099 Maintenance - Simplify Year-End Reporting

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Key benefits of Gravity Software's 1099 Maintenance

Comprehensive vendor tracking

Automatically track 1099 amounts for each vendor by calendar year and entity. Keep vendor details like tax IDs, addresses, and filing statuses organized and up-to-date.

Cash-basis reporting

Gravity automatically updates 1099 amounts as payments are made, ensuring compliance with cash-based reporting requirements.

Multi-entity processing

Manage 1099 reporting for multiple entities within a single system. Gravity ensures that each entity’s transactions are processed accurately and independently, reducing errors and confusion.

Seamless year-end filing

Generate a 1099-ready file that integrates effortlessly with trusted reporting services like ComplyRight. Our pre-configured export format ensures smooth uploads and compliance with IRS requirements.

Bulk vendor updates

Save time by updating vendor names, addresses, and other details in bulk directly from the Active 1099 Maintenance view. Select multiple records and apply changes in seconds.

Gravity-Software-Accounts-Payables

Streamline vendor compliance with Gravity Software

Managing 1099 reporting is no longer a hassle. With Gravity Software, you gain a robust, easy-to-use solution that ensures your year-end 1099 processing is accurate and efficient. From multi-entity support to seamless integration with 1099 reporting services, Gravity empowers your business to stay compliant while saving time.

 

Rette-Rankin-400x400

“Gravity streamlined our workflow process and consolidated all of our companies into one user-friendly database, and because of this, we did not need to hire another accountant.”

Rette Rankin, Controller
InDevCo, Inc.


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Get started with Gravity Software today!

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Frequently
asked
questions

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What is the 1099 Maintenance feature in Gravity Software?

The 1099 Maintenance feature in Gravity Software allows you to manage, track, and process 1099 forms for vendors efficiently. It includes tools for updating vendor details, tracking payments, and exporting ready-to-file 1099 data.

Does Gravity Software support multi-entity 1099 reporting?

Yes, Gravity Software fully supports multi-entity environments. You can manage 1099 records for each entity independently, ensuring accurate reporting and compliance for complex organizational structures.

How does Gravity handle 1099 reporting for vendors?

Gravity automatically updates 1099 amounts on a cash basis as payments are made to vendors. You can review, edit, and update vendor information in the 1099 Maintenance screen to ensure accuracy before exporting the data.

Can I update vendor details in bulk?

Yes, you can update vendor names, addresses, and other details in bulk from the Active 1099 Maintenance view. This feature saves time and reduces manual effort for larger datasets.

Which 1099 reporting services are compatible with Gravity Software?

Gravity Software is pre-configured to integrate seamlessly with trusted 1099 reporting services like ComplyRight. However, you can export a 1099-ready CSV file and upload it to any preferred reporting service.

Is Gravity’s 1099 reporting cash-based or accrual-based?

Gravity’s 1099 reporting is cash-based, meaning 1099 amounts are automatically updated when payments are made on vouchers with tracked 1099 information.

How does Gravity handle year-end 1099 processing?

Gravity simplifies year-end 1099 processing by enabling you to:

  • Review and edit 1099 data in the Maintenance screen.
  • Export a ready-to-file 1099 CSV file.
  • Upload the file to your preferred 1099 reporting service for filing.

What if I need to process 1099s for multiple entities?

Gravity supports multi-entity 1099 processing. Each entity's 1099 file is created and exported separately, ensuring accuracy. Only one account is required with your 1099 reporting service, and all entity files can be uploaded individually.

Can I customize 1099 reporting fields in Gravity?

Gravity provides fields to track essential vendor information such as tax IDs, FACTA filing requirements, and filing states. You can update and customize these fields as needed for compliance.

What should I do if I need help with 1099 processing in Gravity?

If you have questions or require assistance with 1099 reporting, contact your Gravity Partner for expert guidance and support.