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This article applies to:

  • Product: ONESOURCE Trust Tax

Processing 1099s

ONESOURCE Trust Tax saves the OSMI data for each recipient when a tax return processing request is submitted that includes 1099s with OSMI data and the accounts have recipients who are residents of a state where OSMI reporting is required. You can submit a tax return processing request from a register or the account binder. Processing from a register allows you to select one, some or all of the accounts in the register to process.

Processing from a Register

To submit a tax return processing request from a register:
  1. From the Register Listing page, select
    Run
     for the register that includes the accounts you want to process.
  2. Select the check box in the first column for each account you want to process. If you want to select all of the accounts in the register, do not select any check boxes.
  3. Select the
    Process
     subtopic.
  4. Select
    Tax Return
     from the
    Request
     drop-down list.
  5. Select
    1099/FMV
     from the
    Document Option
     drop-down list.
  6. Select
    Process
    . You can now review the processing status.

Processing from the Account Binder

To submit a
Tax Return
 processing request from the account binder:
  1. Open the account you want to process.
  2. Select
    Process
     from the
    Account Action
     drop-down list.
  3. Select
    Tax Return
     from the
    Request
     drop-down list.
  4. If necessary, select
    1099/FMV
     from the
    Document Option
     drop-down list.
  5. ONESOURCE Trust Tax defaults to
    1099/FMV
     if the
    1099 DIV, INT, OID, or B
     check box is selected under the
    1099 Information
     collapsible section on the Account Information page.
  6. Select
    Process
    . You can now review the processing status.

Reviewing the Processing Status

After the batch is submitted, you can use the Request Status and History page to review the processing status. To access the Request Status and History page, select
HOME
 then
Admin
. The batch is listed under the
Current Requests
 collapsible section until the batch completes. After the batch completes, the
# Errors
 column in the
Request History
 collapsible section identifies the number of accounts that were not submitted for processing. If the number in the
# Errors
 column is not zero, the
Request Errors
 collapsible section will show the accounts that were not submitted for processing.
After your accounts are submitted for processing, review the processing status. The
Currently Processing
 register allows you to review the processing status for multiple accounts. The Event History page allows you to review the processing status for one account. Regardless of whether you use the
Currently Processing
 register or the Event History page, there are three possible processing statuses:
  • Pending
    -Indicates that processing has not started.
  • Processing
    -Indicates that processing started.
  • Needs attention
    -Indicates that processing stopped because of an error.
Using the Currently Processing Register
To use the Currently Processing register to review the processing status for multiple accounts:
  1. From the Register Listing page, select
    Run
     for the
    Currently Processing
     register.
  2. In the
    Status
     column, review the processing status for each account listed in the register. If the status for an account is
    Needs attention
    , processing stopped. You can review the error that caused processing to stop in the
    Reason processing stopped
     column.
  3. To successfully process an account that has a
    Needs attention
     processing status, you must correct the error then reprocess the account. You can reprocess accounts that generate 1099s as many times as you like throughout the year.
  4. You can select
    Refresh the Register
     from the
    Register Action
     drop-down list to determine whether the processing status changed since you opened the
    Currently Processing
     register.
  5. Select
    Close
     when you finish reviewing the processing status.
Using the Event History Page
To use the Event History page to review the processing status for an account:
  1. Open the account you want to view the processing status of.
  2. Select
    Event History
     from the
    Account Action
     dropdown list.
  3. Under the
    Current Events
     collapsible section, review the processing status for the account in the
    Processing Status
     column. If the status is
    Needs attention
    , processing stopped. You can review the error number that caused processing to stop in the
    Status Error
     column and the error message in the
    User Error
     column.
  4. To successfully process an account that has a
    Needs attention
     processing status, you will need to correct the error then reprocess the account. You can reprocess accounts that generate 1099s as many times as you like throughout the year.
  5. Select
    Close
     when you finish reviewing the processing status.

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