Year End 1099 for TOPS PRO/iQFollow
Due to IRS changes to 1099’s last year requiring e-filing, TOPS Pro and TOPS iQ had to change the way AP Year End 1099’s were handled. As of last year, we no longer have the option to print 1099’s directly from TOPS Pro/iQ. Clients can export the data to formats that are needed to generate the required 1099 forms. To process the forms from this data, clients will need to use a 3rd party program, such as Yearli, to import the data from TOPS. To contact Yearli please go to https://yearli.com/integrations/tops for more information.
Since the IRS has made changes again this year to the 1099 NEC form, please make sure to run the TOPS Pro/iQ updater to get the latest files. These are the latest programs that are needed to create the files with the new changes.
How to Access and Use the Updated 1099 Process
In TOPS Pro, you will open AP > Year End and this window will display:
In TOPS iQ, you will open File > Year End Processing > Accounts Payable > Process 1099s.
When the app is selected, this is an example of what it will look like:
From here, you have the option to Include All Communities, or select the communities you would like to Export 1099s. Users can simply check or uncheck the communities they need to include in the export.
Double click on a community to view a list of the Vendors assigned to the community and view the 1099 detail information.
From this window, since it is a global utility, you can select any community view and make any necessary changes to the Vendor data. You can also select a different community from the dropdown and it will open all the Vendor information for that community. Some of the fields such as “1099 Needed”, “FED ID” and Financial data can be edited in this window. For example, if you make a change to the FED ID and click on “Save”, then this info updates within TOPS and saves the data for the next time you open the application.
From here you can enter search pattern in the “Find:” field to locate a community or Vendor. You can also change the Year to pull up Vendor information for previous years if data was entered.
This is an example of an XX Community’s Vendor information.
Using the “F2” button
You can also make changes to some of the Vendor’s information by highlighting the Vendor from within the grid, then clicking the F2 button. This will open the Vendor’s information. If any changes were made and the information looks correct, click "Update". If you want to discard your changes click "Cancel". At any time, you can click "Save" to update the information in the Vendor Maintain screen. This is an example of what you will see when using the F2 button:
View Options for 1099-MISC and 1099-NEC
You will also be able to view ALL the information for forms 1099-NEC and 1099-MISC in the new app. We have 3 options for viewing the data – NEC, MISC, BOTH. Option “NEC” will only display the NEC form fields, option “MISC” will display only the MISC form fields, and option “BOTH” displays all fields for NEC and MISC.
Exporting the Data
After you have the communities selected, made any necessary changes to Vendors and selected “Save”, you will next click on the button “Export 1099s”.
This opens another window where you can change the Minimum 1099 Reportable Amount, Include Zero Balance Vendors and enter the IA BEN number.
After entering your values or leaving them at the default value, click on “Export 1099s”. This creates a folder under TOPSdatapath\Master\1099Export which can be accessed by clicking on “Open Folder”. Here you will find the 3 folders EXCEL, CSV and YEARLI which contains the exported files. These are the files that you will send to your 3rd party Vendor. For any questions with your 3rd party Vendor, please reach out to them for your support needs for 1099s.