1099-R accounts
In version 8.16, AccountingWare introduced the ability to include 1099-Rs in ActivityHD's 1099 processing. Form 1099-R reports distributions from pensions, annuities, retirement or profit-sharing plans, IRAs, insurance contracts, etc. Form 1099-R includes data not traditionally collected by ActivityHD. The additional data needed for 1099-R reporting is entered in the 1099-R Account and 1099-R Year windows. 1099-R account records contain the 1099-R information that remains the same year after year while 1099-R year records contain the information that varies year over year. A single 1099-R account record can be associated with multiple 1099-R year records, one per reporting year.
Important!
The rules and regulations surrounding 1099-R reporting are complex. The instructions included in this topic are general and should not be relied upon as definitive. Please refer to the current Instructions for Forms 1099-R and 5498 and its referenced documents for guidance.
Create a 1099-R account record
- In the Navigation pane, highlight the Accounts Payable > Vendors > Records > 1099-R Accounts folder.
- Click
. The New 1099-R Account window opens.
- In the Vendor field, select the vendor associated with the 1099-R recipient that the 1099-R account represents.
- Enter the Code for the retirement account. The code must be unique among all vendors.
- Enter a Description of the retirement account.
- If the 1099-R account represents a Roth IRA distribution, enter or select the year that the Roth account was established by the recipient (the first year of the 5-tax-year period) in the Roth Begin Year field.
- Mark the FATCA Reporting checkbox if your organization is a foreign financial institution subject to FATCA reporting on the recipient. For more information, see the current Instructions for Forms 1099-R and 5498.
- Save your changes.
Flag a 1099-R account as obsolete
If you have 1099-R accounts which are no longer active, you can flag them as obsolete to declutter your view.
- In the Navigation pane, highlight the Accounts Payable > Vendors > Records > 1099-R Accounts folder.
-
In the HD view, right-click the 1099-R account to flag as obsolete and select Obsolete from the shortcut menu. You are prompted to confirm the action.
- Click Yes. The 1099-R account is flagged as obsolete and is removed from the HD view (unless the Include Obsolete checkbox is marked).
To restore a 1099-R account that has been flagged as obsolete, repeat the steps above.
1099-R Account Record ID
1099-R Account tab
The 1099-R Years pane shows the 1099-R Years HD view showing 1099-R year records for the selected 1099-R account.
Double-click a row in the pane to drill down to its record in the 1099-R Year window.
Custom tab
This tab is visible if custom fields exist for the entity. At a minimum, if there are custom fields, a Fields subtab will be present. One or more additional categories of subtabs may also be visible.
Fields subtab
This tab prompts for values for any custom fields set up for entity records of this entity type. Respond to the prompts as appropriate.
References subtab
This tab is visible if other records reference the current record.
Example
Suppose a custom field exists on PRCodes that references an ARCode. On the ARCode record, on the Custom > References subtab, you can view all the PRCodes which reference that ARCode.
Exchange Folder subtab
This tab is visible only if you set up a custom field with a data type of "Exchange Folder". The label on this tab is the name assigned to the custom field.
This tab shows the contents of the specified Exchange folder.
File subtab
This tab is visible only if you set up a custom field with a data type of "File". The label on the tab is the name assigned to the custom field.
This tab renders the contents of the specified file according to its file type.
Internet Address subtab
This tab is visible only if you set up a custom field with a data type of "Internet Address". The label on this tab is the name assigned to the custom field.
This tab shows the contents of the specified web page.
Network Folder subtab
This tab is visible only if you set up a custom field with a data type of "Network Folder". The label on this tab is the name assigned to the custom field.
This tab shows the contents of the specified network folder.
Attachments tab
The Attachments tab is visible if any record for a given entity has an attachment. If the Attachments tab is not visible, this implies that no record of the entity type has an attachment on it; however, once an attachment is added to any record of the entity type, the Attachments tab will become available.
Other tab
1099-R accounts security
Common accesses available on 1099-R accounts
| Access | A user with this access can... |
|---|---|
| Change | Use the mass change action on 1099-R accounts. |
| Custom Fields | Create and edit custom fields for 1099-R accounts. |
| Data | Have read-only access to 1099-R accounts from anywhere in the software (e.g., field validations, filters, date expressions). |
| Delete | Delete 1099-R accounts. |
| Edit | Edit 1099-R accounts. |
| Export | Export 1099-R accounts from ActivityHD. |
| Import | Import 1099-R accounts into ActivityHD. |
| New | Create new 1099-R account records. |
| Read | Have read-only access to 1099-R accounts. |
| Report | Run reports with 1099-R account information. |
| Report Designs | Create and edit report designs with 1099-R account information. This access enables the Report Designs button on the Output tab of report dialogs. |
| Shared Answers | Create and edit action profiles and report profiles related to 1099-R accounts. |
| Shared Filters | Create and edit shared filters on 1099-R accounts. |
| Visible | View the 1099-R Accounts folder in the Navigation pane. |
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