Posts in Finance
1099s and Credit Card Payments
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Last year, we added new functionality in Escape Online to support payments to vendors via credit cards. While we are on this topic, we have received questions from customers in regards to processing 1099 Vendors who have been paid via credit cards. According to the IRS Instructions for Form 1099-MISC, "Payments made with a credit card or payment card and certain other types of payments, including third-party network transactions, must be reported on Form 1099-K by the payment settlement entity under section 6050W and are not subject to reporting on Form 1099-MISC. See the separate Instructions for Form 1099-K."

The burden of reporting payments through credit cards resides with the payment processor, i.e. the credit card company. So, you are not required to send a 1099 form to independent contractors such as freelancers, or to other unincorporated businesses such as LLCsif you paid them via credit card. 

Good news indeed!




DON'T MISS THE RELEASE REVIEW WEBINAR FOR V18.02

This Thursday, July 5th, Leslie Bailey, Technical Writer, and Terri Hammond, System Trainer, will be LIVE on the web! These way wild ladies will review the latest Escape Online release v18.02. It's your chance to learn all about new features, enhancements, and changes without leaving your desk. It's not too late to register!  

The way wild ladies, Leslie Bailey, Technical Writer, and Terri Hammond, System Trainer.

The way wild ladies, Leslie Bailey, Technical Writer, and Terri Hammond, System Trainer.

Below is a list of some of the features that they will review:

HR/Payroll 9:00am - 10:30am

  • Quick links in Position Detail
  • Credential Changing
  • Mass Copy Calendars
  • Adjustments Only flag in Adjust Payroll
  • NEW Employee Asset Agreement Report

Finance   10:30am - 11:30am

  • Stores Available field in Store Reqs 
  • Year End Changes
  • Import/Export Assets 
  • New Workflow Events
  • Vendor AP ACH Pre-Note

Reserve Your Webinar Seat Now!  




Year End Purchasing Webinar Follow-up

Thanks to ALL who were able to attend the ‘Year End Purchasing’ webinar. There were over 100 attendees, and we reviewed the procedures and processes for closing the books for the fiscal year, requisition year-end processing, and the setup of liabilities and receivables, and so much more. 

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Amanda Erwin, Escape Software Support Analyst, did an amazing job answering all the questions during the live broadcast. Thank you to all our attendees and Amanda Erwin for making the Year End Purchasing webinar a huge success!

You can watch the video recording and read the Questions and Answers in Escape Online – Online Resources – Webinar Information. (The Tuesday following each webinar, the recording and Q&A from the webinar is posted there.)

Are you signed up for the Year End Closing for Finance on Thursday, July 12? Register Now!




Shasta COE Scores Another First!

During the past year, we spent a lot of time and resources to develop Finance AP ACH functionality. We have many customers who have been successfully submitting their ACH payments to CalPERS both for retirement and health benefits.

However, we celebrated a milestone in March – Shasta COE has begun paying vendors via ACH!  To start, they paid their child care providers via ACH. The first batch of AP ACH payments (838 invoices, combined into 122 ACH records) was processed on March 14th. Vendors received their notification emails with attached invoices and advices, and the file was accepted by the bank. Business Applications Technician Julie Bartlett said, “I am so excited. This has been a great learning process and a huge milestone for us!” 

Thank you Shasta COE for pioneering this project and assisting Escape Technology with testing this functionality. The Escape Online Finance support team is looking forward to assisting all our customers with implementing this functionality.

Pictured above from left to right: Gerilyn Meek, Accounting Assistant; Jackie Titus, Director of Internal Business Operations; Julie Bartlett, Business Applications Technician.

Pictured above from left to right: Gerilyn Meek, Accounting Assistant; Jackie Titus, Director of Internal Business Operations; Julie Bartlett, Business Applications Technician.