If you print more than 250 1099s, you are required to file 1099 information electronically with the IRS. You can create files for only one of your companies at a time. Since 1998, the 1099-MISC file name has been user-specified. Change this file name to the required IRS file name before filing 1099 information electronically.
You create the electronic file to submit to the IRS via the Print/Create 1099s and Magnetic Media screen.
The file that you create stores the same information printed on the 1099s. If a vendor does not have an address on a 1099, the address field will be blank in the file.
Your company ("payer") and the vendor ("payee") Tax Identification Number fields are the only two fields in which incorrect data will result in error and/or warning messages.
Your company's tax ID must contain nine numeric digits. Tax IDs that contain more than or fewer than nine digits, or that contain alphabetic characters, cannot be saved in the file. If the company's tax ID is incorrect, the entire creation process stops and Costpoint displays an error message instructing you to correct the company tax ID. Do so on the Configure Company Information screen and run the Create 1099 Information process again.
Vendor tax IDs must contain nine numeric digits. If the pay vendor's tax ID is incorrect, Costpoint displays an error message instructing you to correct the problem, but does not stop the creation process. However, the vendor's 1099 information is not included in the file. Correct the vendor's tax ID on the Edit 1099 Information screen and then recreate the file. Deltek recommends that you also correct the tax ID in the 1099s group box on the Header tab of the Manage Vendors screen.