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Microsoft Dynamics GP – 1099 Form Changes for 2022

Microsoft Dynamics GP-1099 Form Changes 2022
19 Dec

Microsoft Dynamics GP – 1099 Form Changes for 2022

by SMB Suite
in Dynamics GP Long Term Strategy, GP Year End, Managed IT
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This blog is an excerpt from Microsoft Dynamics GP Year-End Update 2022: Payables Management 1099 Form changes.  

 

What changes can you expect for 1099 forms in Microsoft Dynamics GP (Great Plains) this year?   

 

The IRS has removed the pre-printed YEAR on all the forms, so GP will now print the year on the forms (1099-INT, 1099-DIV, 1099-MISC, and 1099-NEC)  

  • The 1099-MISC had some boxes moved around on the form and some boxes have been renumbered on the 1099-MISC and 1099-DIV forms.  
  • Did you know that you can now print the1099-NEC form WITH LINES? !!  No need to buy preprinted 1099-NEC forms any longer.  See details below.  

 

What new features should I be aware of this year in Dynamics GP? 

 

1.  You will now need to enter the 1099 YEAR in the Print 1099 window in Dynamics GP as highlighted below.  The system will then print the specified year on all the printed forms (1099-INT, 1099-DIV, 1099-MISC and 1099-NEC). 

 

 

 

  1. With the October 2022 release (and included in the 2022 Year-end release), you can now print the 1099-NEC form WITH LINES! Now when you select to print the 1099-NEC form, you have the option of printing the form ‘One-Wide with Box‘ on blank paper (as shown in the screen-print above in the red box.)

 

If you are printing on pre-printed forms, and ALL fields on the report need to be moved in the same direction (up/down/left/right), you can test the following:

 

  1. Print the 1099 forms to the screen.
  2. In the Screen Output window, click Print.
  3. In Print Dialog box, adjust the horizontal and vertical alignments in the ‘Alignment (Inches)’ section according to the following scenarios:
  • If the form prints too high, enter a positive vertical adjustment (.25 equals one line).
  • If the form prints too low, enter a negative vertical adjustment (-.25 equals one line).
  • If the form prints too far to the right, enter a negative horizontal adjustment.
  • If the form prints too far to the left, enter a positive horizontal adjustment.

 

Specific 1099 Form Changes

 

1099-MISC FORM: Form 1099-MISC (Rev. January 2022) (irs.gov)

 

The 2022 Year-End Update includes the following changes for the 1099-MISC form as highlighted below:

 

  • The IRS removed the ‘preprinted YEAR’ from the form and separated that box into two boxes where the upper box contains the words “Form 1099-MISC‘ with the revised date noted below it, and the lower box is populated with a fillable field: ‘For calendar year 20___‘ field, which is designated by the user in Dynamics GP.
  • The Account Number box and 2nd Tin not. boxes have both been moved down a line, leaving the FACTA filing requirement box by itself on the line above, with an empty box to the left of it.

The FATCA Filing requirement box has now been labeled as Box 13, pushing boxes formerly labeled as 13,14,15,16 and 17 to now be relabeled as boxes 14,15,16,17 and 18.

 

 

 

1099-DIV FORM: 2022 Form 1099-DIV (irs.gov)

 

The 2022 Year-End Update includes the following changes for the 1099-DIV form as highlighted below:

 

  • The IRS removed the ‘preprinted YEAR’ from the form and separated that box into two boxes where the upper box contains the words “Form 1099-DIV‘ with the revised date noted below it, and the lower box is populated with a fillable field: ‘For calendar year 20___‘ field, which is designated by the user in Dynamics GP.
  • The FATCA Filing requirement box has now been labeled as Box 11, pushing boxes formerly labeled as 11,12,13,14 and 15 to now be relabeled as boxes 12,13,14,15 and 16.

 

 

 

1099-INT FORM:  Form 1099-INT (Rev. January 2022) (irs.gov)

 

The 2022 Year-End Update includes the following changes for the 1099-INT form as highlighted below:

 

  • The IRS removed the ‘preprinted YEAR’ from the form and separated that box into two boxes where the upper box contains the words “Form 1099-INT‘ with the revised date noted below it, and the lower box is populated with a fillable field: ‘For calendar year 20___‘ field, which is designated by the user in Dynamics GP.

 

 

 

1099-NEC FORM: Form 1099-NEC (Rev. January 2022) (irs.gov)

 

The 2022 Year-End Update includes the following changes for the 1099-NEC form as highlighted below:

 

  • The IRS removed the ‘preprinted YEAR’ from the form and separated that box into two boxes where the upper box contains the words “Form 1099-NEC‘ with the revised date noted below it, and the lower box is populated with a fillable field: ‘For calendar year 20___‘ field, which is designated by the user in Dynamics GP.

 

 

If you need additional assistance, then get in touch with our support team!

 

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.