Use 1099-MISC Reporting

AI generated answer (using internal Slack threads):

Based on the conversations, it appears that the 1099-MISC report is not as simple as showing the bank payment transactions associated with the vendor during the year. Instead, most 1099 reports use the vendor bill and the expense account on that vendor bill. The 1099 category is associated with the account and all transactions hitting that account are summed up per vendor. For plug-ins to NetSuite to produce 1099's and do the filing, Sovos, Yearli, and Track1099 are the options that usually come up. They all have a bundle and require a combination of flagging your vendor/expense accounts then use a search to upload to their sites. Regarding the IRS changes for 2020 regarding 1099-MISC and 1099-NEC, it was mentioned that it was a defect and NetSuite planned to resolve it, but no timeline was provided. As for exporting 1099's, the old 1099 export functionality was removed. Instead, you can use the saved searches in those bundles. However, you still need an add-on to file them or create them. One possible way to populate the 1099-MISC form with search data is to use a custom record to mimic the 1099-form, fill the fields using the search data, and use an advanced pdf template to churn them out. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******