To set up required records for 1099s and tax reporting in Vista 5 (V5):
Company Setup – Tax Contact Setup
- From the Vista 5 Menu, go to Setup > Company.
- Change the mode from Entry to Search.
- Once in Search mode, bring up the Company record. If more than one company record exists, you will need to repeat these steps for each company for which you will be filing 1099s.
- Once the Company Information populates into the fields, confirm that all Company and Tax Information have been set up and are accurate.
- The ICR Information section is not required for filing 1099s. However, you will need to have the ICR info sub-panel set up completely and accurately for ICR Reporting.
- State of Incorporation
The two-digit abbreviation of the state in which the production company is incorporated is input into this field. This information can be verified with the production’s corporate accounting office.
- State Tax ID
Input the State Tax ID Number assigned to the production company by the company’s state of incorporation. This information should be verified with the production’s corporate accounting office.
- Reportable Amount
Input the dollar limit that you will report to the Employment Development Department (EDD) for Independent Contractor Reporting (ICR), currently $600.00 for California.
- Income to Report
For income to report to the EDD, the options are: 7, for non-employee compensation; NEC Only, required by the state of California; or All, which will include all 1099 earnings regardless of tax code.
- State of Incorporation
- Once you have updated the Company Information, select the Add’l Information tab to create a Tax Contact.
- Navigate to the lower portion of the Add’l Information module to add in Contact Information (Including Tax Contact).
- Type in the Contact Name. Move your mouse pointer to this column and single-click to access the cell to type in the name. This will be the name of the person at the production or studio (not Entertainment Partners) to whom the production’s vendors or CA EDD may direct questions regarding their 1099s or ICR filings.
- The Comments section is optional and will not have any bearing on the 1099s.
- Use the Type field to select the method of communication that will be designated to the Contact Name. Move your cursor to this field and use the F12 key to pull up the following types: Business Phone, Email, Fax, Mobile, or URL. Select the Type you wish to use in the pop-up window, and then press Ok.
- Enter the tax contact’s phone number or email address under Value column.
- Use the Save icon or press Enter on your keyboard to save the Company and Tax Contact records.
NOTE: If the production’s accounting office is only a temporary entity, then a contact name and phone number at the production’s corporate level is appropriate.
- From the Vista 5 Menu, go to Setup > Tax Setup.
- In the Country field, use the drop-down selector and choose USA to populate the 1099 Tax Form information. Please contact EP if this this information does not exist.
- You can apply an Aggregate Across Tax Codes which will apply the Aggregate Minimum Tax Limit across the codes listed. You can enter in minimums to set a different amount. If you would like Vista 5 to produce a 1099 regardless of income, set the Minimum to $0 and do not use the Aggregate Across Tax Codes option.
- The IRS Federal Tax Limit remains at $600 in aggregate for boxes 01, 03, 06 and 07.
- Box 02 amount = $10
- Box 14 amount = $600
- Box 04 and 16 amount = $0
- From the Vista 5 menu, go to Vendors > Tax Cycle > Tax Report.
- This will open the Tax Report module. Enter the Report criteria as explained below.
- In Report Selection, select either Tax Report – Detail OR Tax Report – Summary.
- Tax Report – Detail
Lists detailed earnings for all transactions, including document number, transaction number, description, date, and state breakdown for reported vendor(s).
- Tax Report – Summary
Lists the total amount of earnings per state for each vendor.
- Tax Report – Detail
- In Company Information, use the drop-down selection arrows to select the Company, Currency, and Tax Form (1099). Enter the year for which you are reporting 1099s in the Tax Year window.
- Optional Criteria allows the user to select a single or combination of vendors to run a Tax Report. Use the arrow drop-down to choose a vendor or multiple vendors. Leaving this field blank will produce a report for all vendors.
- Tax Report (Detail and Summary) Options:
- Sort By allows sorting of the 1099 Tax Report by Vendor Name, TIN Name, or SSN/FID.
- Include determines which vendors will be included in a Tax Report: All will produce a report of all vendors regardless of taxable amounts or taxable status; 1099-able vendors will produce a Tax Report of only vendors that are set up as taxable for 1099 in Vendor Entry, regardless of income; Non 1099-able vendors will produce a Tax Report for non-1099 vendors (e.g., vendors marked as Corporations under the Tax Information section of Vendor Entry).
- Once all of the required fields have been selected, you are ready to run your Tax Report. Please select one of the printing options to view the report. You are now ready to audit for 1099 processing.
- For instructions on printing 1099s from Vista 5, please go to