How to read a 1099 report

Reading the 1099 report*

The WorkingPoint 1099 report shows you all of the payments you have made to contacts you have selected to be tracked for an IRS Form 1099. You'll see the name of the contact and the total amount paid to each for the current year and the total paid to all of them.

The following types of payments are included in the 1099 report:

Bill payments

Expenses recorded from the Home page

Payments or Purchases recorded from Bank Accounts

Credit card charges recorded from Credit Card Accounts

Click the [+] icon to expand a contact's payment details. Depending on the type of payment made to your contact, the details for payments may look different. Here is a quick overview of what you will see when you expand a contact's details on the 1099 report:

Type of Payment

What You'll See in the Account Column

What You'll See in the Notes Column

Bill Payment for the Exact Amount of the Bill

The bookkeeping accounts selected on the bill.

If you entered a note for any line items, you'll see those here.

Bill Payment for More Than the Amount of the Bill

The term "Overpayment" along with a link to view the bill.

If you've entered a transaction memo, you'll see it here.

Bill Payment for Less than the Amount of the Bill

The term "Partial Payment" along with a link to view the bill.

If you've entered a transaction memo, you'll see it here.

Expenses

Payments or purchases from bank accounts

Credit card purchases recorded on credit card accounts

The bookkeeping accounts selected.

If you have entered a note for any line items or a transaction memo, you'll see those here.

Note: While you can connect companies and people to track the relationship between people and the companies they work for or own, they are considered separate contacts in WorkingPoint. As a result, if you have paid money directly to a person at a company and to the company directly, you will see separate totals for each on the 1099 report. To include the payments for the company and all the associated people on a single 1099, simply add them together.

Inventory purchases have been excluded from the report according to IRS exceptions.

Reading the 1099 report*

*Access to this feature may depend on your account plan. Log into your WorkingPoint account and click "Account" (in the upper right hand corner), then "Change account plan" to view your plan details.

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