*Updated for 2016*
The end of the year is right around the corner and the Rent Manager® support team wants you to have access to the information, tips, and tricks that will make your year-end close straightforward and problem-free.
You’ve run your breakdown reports, tweaked your settings, loaded your printer full of tax forms’only to realize that that the PAYER box on your finished 1099s is empty. No worries! Here’s what you need to do to add the property management company’s Tax ID Number to Rent Manager:
Please note: The management company must already be added to Rent Manager as a property before following the instructions below.
For Owner 1099s:
- Go to Rental Info > Properties.
- Select the appropriate management company from the list.
- In the Other Information section, enter the company’s Tax ID Number in the Property Tax ID field.
- Click Save.
The Tax ID will now automatically fill the 1099’s PAYER federal identification number box.
For Vendor 1099s:
A separate 1099 can be generated for each vendor, for each property that paid the vendor. Alternatively, a single 1099 can be provided for each vendor with the company and corresponding Tax ID entered when the vendor 1099s are created.
- Go to Reports > Accounts Payable > Vendor 1099.
- Select the report options appropriate for the vendor 1099 and enable (check the box) Consolidate Properties.
- Enter the management company’s name, address and Tax ID and click Create Report.
The Tax ID entered will automatically fill the 1099’s PAYER federal identification number box.