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Sage 50 US: Important information on year-end updates

1099-NEC filing for Payroll customers using Aatrix

Sage 50 has been updated to allow you to file the new 1099-NEC form required to report non-employee compensation. This is now available through the Sage 50 tax update as well as the Aatrix year-end update. 

For optimal automated workflow, we recommend that you first update your system to the most current version – 2021.1.1 (build 28.1.01.0511) and then install the latest tax release (Tax2021Jan_Release2021.exe).

Because the 1099-NEC form was finalized after our product releases this year, we have not yet updated the descriptions for Vendor defaults. The new 1099-NEC functionality provided by Aatrix will map data formerly going to the 1099-MISC box 7 to 1099-NEC box 1. For full details on new 1099 mapping, review Sage Knowledgebase article 108315. We currently plan to update vendor default descriptions for 1099s in the next release, tentatively slated for July 2021.   

For more details on items included in the latest Sage 50 tax release, see Sage City post: Announcing the 1st January 2021 Tax Update for Release 2020 and 2021.

1099-NEC filing for Non-Payroll customers

For details on how to produce the 1099-NEC, see Sage City post: 1099-NEC filing for customers without a payroll subscription.

Need help closing the year?

Visit Sage.com/Resources for options, including links to Sage Year-end Center, Sage Knowledgebase, Sage City, and Sage University, as well as Sage Q&A Live, Chat, and Online Case submission.

The 2020 Year-end Procedures learning subscription will be complimentary this year! We’re updating the subscription and it will be available in late December on Sage University. You’ll also find links to this training on the Sage 50 Year-end Center. Be sure to take advantage of this helpful resource!

Questions? To start (or join) a discussion about this topic, please visit the Sage 50 US General Discussion forum.