Crimson 3: Treasury - 1099 IRS Reporting Features

IRS 1099 Forms are commonly used for the reporting of Consultant income.  Crimson provides 1099 features to help simplify 1099 tracking and reporting.  Below are the currently available 1099 features:

  • 1099 Payee Settings
  • 1099 Transaction Indicator
  • 1099 Tracking Report

1099 Payee Settings

Payee Settings allow clients to enter the Tax ID# for any payee and if 1099 tracking is needed, clients can use the 1099 checkbox indicator found under the payee’s profile.  When enabled, this indicator automatically marks any new transaction for 1099 tracking.

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To make edits to a Payee’s settings:

  1. Go to the Treasury Dashboard of Crimson and select the Payee Search button from the Navigation Bar.
  2. Search for the Payee record you would like to update and click mceclip1.png to open their profile.
  3. Click the Organization panel to edit the full record.
  4. Here you can update the Tax ID# and select the 1099 checkbox to turn on the tracking feature.  Make these and any other updates, then click Save.

1099 Transaction Indicator

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To edit the indicator for a transaction:

  1. Go to the Treasury Dashboard of Crimson and select the Payee Search button from the Navigation Bar.
  2. Search for the Payee record you would like to update and click mceclip1.png to open their profile.
  3. Find the transaction you would like to edit by clicking the Disbursement panel and viewing all the disbursements. Click mceclip1.png to open the transaction details.
  4. Make your edits, then click Save. 

Please note, if your main source of data entry for payee transactions is the import module, then there is a mappable field called “IS1099” you can use to indicate if a transaction should be tracked for 1099 reporting.  To use this feature, simply include an “IS1099” column in your file for import, then u

se an “X” for the records that should be indicated as 1099 records.

1099 Tracking Report

Our Payees’ search and export will allow you to view if a payee has been indicated as a 1099 recipient.  The Expenditures, Invoices, and treasury Receipts search and exports will also allow you to view which transactions have been indicated as 1099 applicable for a payee.  For 1099 reporting purposes, we recommend using Treasury Report #393 – 1099 Reporting.  To run this report:

  1. Go to the Treasury Dashboard of Crimson and scroll to the Treasury Reports cards. Click mceclip5.png to see a full list of Treasury Reports.
  2. Search for report #393 – 1099 Reporting and then click mceclip8.png. You will then get a Run Report window.

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  1. The following criteria must be completed:

IS 1099

No – This will show you all the payees who had transactions marked for 1099 tracking, but the payee 1099 setting was not enabled for them.

 Yes – This will show you all the payees who had transactions marked for 1099 tracking, that were also indicated as 1099 payees.

 All – This will show all payees who had transactions marked for 1099 tracking regardless of their payee settings

Date Range

This date range typically reflects the year being pulled for IRS reporting. The total amount indicated for each payee within the report results will reflect the total of their transactions within the given date range.

Fund Code

Select the correct Fund Code for the pull.

  1. Click Run after the filtering criteria.
  2. Click mceclip8.png to review the resulting payees and their 1099 reported information.
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