We are finding more and more businesses that have a different business name that they use on their tax return from the name they are doing business as. If we don't use the dba name (which is the name they use on their invoices) in the vendor name field, we can't find the vendor, but we need to have the tax return business name in the vendor name field when we report the 1099 information, or we will get a notice from IRS saying the business name doesn't match with the TIN. With the upcoming changes to 1099 reporting (having to report all businesses, incorporated or not), this will be even more critical. It is very difficult and time consuming to keep up a list of all the vendors that fall into this category, change the vendor name to do our 1099's and then change the names back afterwards - also increases the chances of human error!
by: Leigh S. | over a year ago | Financial Management
Comments
Why not just add a UDF to track the business name, and keep the Vendor Name as the 1099 name. The Vendor Lookup can be customized to search the UDF as the primary search field.
Would be very helpful to add a DBA Field. We currently have to use one of the three address lines, but that creates issues with sorting and searching data. A UDF is not really feasible either in order to do the proper lookups.
This is the original posting.
Here is another similar entry entered later:
https://www11.v1ideas.com/SageERP/MAS90and200/Idea/Detail/2519
I would be interested in Sage adding a separate name and address specific to W-9 forms and form 1099 printing.
As 1099 information returns become more necessary, I have found the following problem: When asking for a W-9, we are frequently provided with address information that has nothing similar to Company mailing or remit to addresses. This requires a lot of extra work to make the whole thing work. If there was an address that was specific to the 1099's, it would make dealing with W-9's and 1099's a whole lot easier.
Simialar entry here: https://www5.v1ideas.com/TheSageGroupplc/Sage100ERP/Idea/Detail/12248
Workaround:
In 1099 eFiling Grid, you can manually enter the DBA Company Name or import into the "Recipient Company Name" field (the persons full name would be in the "Optional Name/Full Name" field).
For more information see IRS instructions, http://www.irs.gov/pub/irs-pdf/i1099msc.pdf (page 7)
How has this feature not been added yet? Seems like a no brainer. I agree that separate legal name and address fields associated with 1099 reporting is necessary. Yes, there are workarounds, which we are doing. Specifically, we are manually switching the DBA company name in the eFiling grid, but this can be time consuming.
I agree to accomodate DBA and TAX name manual fixes is VERY time consuming. There should be a separate 1099 reporting tab that allows for all of the 1099 info to be entered ONCE (1099 address and tax name which is different then the vendor/accounts payable address and doing business as name)!
all work arounds require us to do these fixes EACH year, all within 30 days since 1099 due date is 1/31.
Added in Sage 100 2021.2 (Product Update 2).