Posts tagged Objects
Friday Feature - Basing 1099s on Object Codes

The 1099 and W2 fun just never stops! Continuing our Friday Feature journey on 1099 processing, this week we focus on how Escape Online uses the object codes from the accounts used to pay vendors to determine if the dollar amount is 1099 worthy. As most of you know, in the Vendor record, you can specify the 1099 box for all payments. But, what if you want to have amounts loaded automatically to the appropriate box? Well, Escape Online has got you covered.

If you want Escape Online to determine which box to put the 1099 amount in based on the object code of the account, set the 1099 flag to YES and leave the 1099 box field as N/A in the Vendor record.

Next, you tell Escape Online which object codes go to which 1099 boxes.

Notice how the highlighted object code of 5803 is coded for box 14 and the object code of 5809 is coded for box 7.

Now, when you load 1099s, Escape Online reads through vendor, check and journal entry data files for the calendar year you are reporting — searching for payments made to vendors based on the object codes you specified with a form 1099 box in the Account Components activity.

When it finds checks paid (or prepaid) with accounts that contain those object codes, Escape Online writes those amounts to the 1099 box.

Now let's see how this works using a LIVE example.

In this example, you see a 1099 that has system-generated amounts in the Non-Employee Payments (box 7 at the top) and Attorney Fees (box 14 at the bottom). Obviously, this vendor (who is a lawyer that also conducts training seminars) could not have the 1099 box set in the Vendor record because there is more than one box that needs amounts.

This is a perfect case for the reading of object codes to determine the 1099 box!

When the lawyer was conducting seminars, those payment accounts had the 5809 object and they were summarized in the Non-Employee payments (box 7).

When the lawyer was dispensing legal advice, the accounts used for payment had the 5803 object and those amounts were summarized in the Attorney Fees (box 14).

Defining 1099 boxes by object codes really makes the 1099 process easy. All you have to do is click a button to load the 1099s and almost all of the legwork has been done for you!




Friday Feature - 1099 Vendor Fields

For those of us that prepare the forms, tax time is here. It is time to start reviewing your records, your lists and prepping for the printing of 1099s and W2s. Over the next month or so, I will be focusing on several features in both processes. Today, I am going to talk about the 1099 fields in the Vendor record. The Vendor record has several 1099 fields. Of course, you have the tax ID fields and the address to where you will send the 1099, but Escape Online also includes some great fields that help you manage your 1099 process.

These fields can be changed at any time, so if you are itching to get going on your prep work, you can look at these fields right now!

Searching for 1099 Vendors
Searching for 1099 Vendors

Your first step would be to search for the vendors that you need to review. The search page has several fields that can help you limit your list to just the vendors you want to see.  As you can see here, I am searching for only those vendors that have the 1099 flag set to YES and that have received a payment this year.

Vendor Record 1099 Flag
Vendor Record 1099 Flag

Cool! Now that we have a list to work, let's take a look at what fields Escape Online has that help you track 1099 vendors.

Of course, every 1099 vendor has submitted a W9 to you. So, Escape Online has fields to say whether you have received it and when.  (And, notice that those fields were also on the search!)

Notice that this vendor has the 1099 flag turned on, and the 1099 Form Box set to 7 - Nonemployee. This means that regardless of the accounts used in a requisition or payment, all monies paid to this vendor will appear in that box on the 1099 form. (If the box was left blank, Escape Online would read the account components of the selected payments to determine what amount is supposed to be reported in which box. But, we will talk more about that in a later Friday Feature.)

1099 Form Box Lookup
1099 Form Box Lookup

Also, let me remind you about the lookup for the 1099 Form Box. Sometimes those of us that have been using Escape Online for years forget how incredibly helpful those lookups can be.

I especially like how I can see the code (or box on the 1099 Form) and the English explanation.

Stay tuned for more on 1099 and W2 features after the break.

Have a happy and healthy Thanksgiving!




Friday Feature - Eliminating Mistakes by Fund and Object

With up to 60 characters in a SACS account, it is no wonder that users occasionally make mistakes entering accounts. Now you could try to train everyone in your organization on the SACS account structure and then have follow-up trainings every couple of months. Or, you could put in place some complex bureaucratic set of rules that no one would remember. Or, you could simply enter the funds and objects that users are allowed to enter in a control field and be assured that users will not enter accounts that don't match those funds/objects.

Now that sounds easy!

It is easy. You can control what accounts users enter into vendor requisitions, department requisitions, stores requisitions, work orders, invoices, direct payments, employee payments, journal entries and payroll. Wow!

Filtering Funds and Objects
Filtering Funds and Objects

Let's take a look at an example for a vendor requisition.

The Account Fund Code Filter is empty. That means that users can use accounts from any fund.

The Account Object Code Filter is not empty. In fact, it lays out a pretty specific set of object codes. The first (4-5699) defines a range. That means that users can enter any account with object codes 4000-5699. The second is also a range and then we have specific objects.

Pretty cool and easy to set up! But what is the general user experience?

In a word: transparent.

When a user uses a lookup to enter the account codes, only those that match are displayed. If the user just starts typing their account code and it doesn't match the filter, they are given an error message.

If the user likes to use account aliases (six-digit, short-cut account numbers), Escape Online automatically translates the alias to the full account number and validates against the filter, providing the same result.

AND, these same rules apply to all of the other document types mentioned.

Nice and easy!

TIP: The funds and objects that can be used in vendor, department and stores requisitions, work orders, invoices (fund only), and journal entries are set in the Department record. The funds and objects that can be used in direct and employee payments and payroll accounts (object only) are set in the Organization record.