22 Nov 2017

Clean Up Professionals & Be Merry with Easier 1099 Filing

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This season, give yourself the gift of easier 1099 filing by cleaning up professionals in your software before the start of the new year!

Besides lightening next month’s load, it’s always a good idea to clean up your professionals list as part of your end-of-year housekeeping tasks to provide a clean slate for the new year, saving you time and reducing potential errors.

Learn how to clean up professionals on CaseLink below!

Cleaning up Professionals in CaseLink²

Be ready to print the required tax forms by the updated January 31, 2018 deadline by identifying professionals who may require tax documents. Then you can make sure payees and claimant records are complete for tax purposes.

Step 1: Identify Professionals with the Professionals Listing Report

You can easily review the professionals listed in your CaseLink² software with the Professionals Listing Report. This report can be accessed in the Reports tab of the Sidekick under Global Reports.

On the resulting configuration screen, choose all of 2017 as the date range (01/01/2017 through 12/31/2017), as this will limit results to the 2017 tax year. You can check the “Filter by Professionals” check box to filter results further.

Once you’ve run the report, you can look through each professional’s information to determine if it is complete for tax purposes. You can also work off the report to locate any missing data—such as an address or SSN/TIN—and edit your records through the Manage Professionals module (located under “Tools” in the Global Menu Bar.)

Step 2: Clean up Repetitive Payees

Update and review your repetitive payees list by using the “Repetitive Payee Report.” This report helps you to identify professionals to whom you may need to send a 1099, and can be accessed in the Reports tab of the Sidekick under the Global Reports section.

In the Repetitive Payee Report screen, generate the report by clicking “Print Report” to download it in a PDF format. The report will automatically save to the Global Documents – Reports Folder, unless you deselect the check box at the bottom of the screen.

If you need to make any changes to this data or add new payees, utilize the “Manage Payees/Payors” module under Tools in the Global Menu Bar.

Now that you’ve cleaned up your professionals, you’ll be able to start the new year with a lighter feeling, knowing you’re that much more prepared to face tax season.

Cleaning Up Professionals in CaseLink Office

Be ready to print the required tax forms by the updated January 31, 2018 deadline by identifying professionals who may need tax documents. Then you can make sure payees and claimant records are complete for tax purposes.

Step 1: Identify Professionals with the Payments to Professionals Report

You can easily review the professionals listed in your CaseLink Office software with the Payments to Professionals Report. This report can be accessed under Reports > UST Forms.

Choose all of 2017 as the date range (01/01/2017 — 12/31/2017), as this will limit results to the 2017 tax year. You can check the “Fees Only” or “Chapter 7 Only” checkboxes to filter results further.

Once you’ve run the report, you can quickly check to see that each professional’s information is complete to file tax forms. You can also work off the report to locate any missing data and edit your records under Tables > Professionals.

Step 2: Cleaning up Repetitive Payees

Update and review your repetitive payees list by using the Repetitive Payees screen. Scroll through each listing of professionals and claimants and review the entry for accuracy and completeness. If you do not have the individual’s address or TIN/SSN, now is the time to obtain that information.

Also, take note of the “Print 1099” checkbox available in the detail area of each listing. Hopefully, you’ve been using this box throughout the year as you made entries for professionals—doing so saves you time when you are ready to print Forms 1099-MISC, 1099-INT and 1096.

TIP: Any Claimants will already have the “Print 1099” checkbox marked, as this occurs automatically when a claim is paid.

Now that you’ve cleaned up your professionals, you’ll be able to start the new year with a lighter feeling, knowing you’re that much more prepared to face the tax season.

 

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