Drake Accounting®: Can I generate a 1099-MISC or 1099-NEC without creating an invoice?
The 1099 Payments screen allows for direct entry in the style of a 1099-MISC/NEC for 1099 vendors. Invoices are not required; however, invoices are made in “the background” for auditing purposes and will show up in the Invoices screen. The 1099 Payments will show every payment record, including payments made in Quick Payments and Invoice Payments.
To use the 1099 Payments screen:
- Go to Payables > Payments > 1099 Payments.
- Click New.
- In the All Payments tab, select either the 1099-MISC or 1099-NEC from the Form drop menu.
- Select the applicable Payment Type from the drop menu.
- If this is an ATF payment, check ATF.
- This includes cash, check, credit card, electronic, or other.
- Information on the Accounting Transactions tab will fill.
- Verify the accounts and amounts, and ensure the debits and credits are equal.
- The balance must be zero.
- After selecting the payment type, complete the necessary and required information.
- Enter the Payment Date.
- For the 1099-MISC, enter the appropriate amounts in the field(s) where you wish to see it on the form itself.
- For the 1099-NEC, enter the appropriate amount in the Non-employee Compensation field, and enter amounts in the other fields as applicable.
- If withholding has been set up for federal and state, these fields will automatically have amounts.
- When the information is accurate, click Save.