I wanted to reach out to the community and US based users to see if anyone has a solution for issuing 1099s through ERPNext. In the US, businesses are required to report payments made to any companies (suppliers/vendors) for services which exceed $600.00 during the year. This form is called the 1099-Misc and they are due to be filed around this time each year as we enter tax season.
This reporting procedure is often time consuming to prepare in some cases since some types of trade is exempt and you need to look at all payment entries for the previous 12 months. I wondering if anyone has come up with a way to streamline this process with ERPNext? This would be a valuable feature in my opinion for those companies who use this wonderful business platform in the US.
Yes, I am attaching a link to the IRS (Internal Revenue Service) website which explains who receives a 1099 form and shows what the forms look like. You can find the link at:
Companies like Intuit (Quickbooks) have a paid service which you can use which expedites this process and is easy if you use their Quickbooks Online software. Here is a link to the paid service they offer.
Yes, this is something that would be a great contribution and helpful to those of us in the US who use ERPNext. I would love to see this merged and available to the community. Great work @tmatteson, @cpurbaugh and @jhk!
