Is everyone aware of the IRS changes for 2020 regarding 1099-MISC and 1099-NEC? Has anyone heard from NetSuite if they are going to add a 1099-NEC Category to the Accounting List as well as a new 1099-NEC Category field to the Chart of Accounts? OR do we have to try customizing NetSuite ourselves to add this and then customize the saved searches to appropriately extract data for both 1099-MISC and 1099-NEC? I am still waiting on a reply from NS Support.
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Luis
12/23/2020, 7:47 PM
I filed a case and it was considered as a defect. They told me this will be fixed in November but they didn't. I'm gonna ask for an update and will let you know.
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NetSuite Chicago James T
01/05/2021, 11:33 PM
@Luis hello, I have heard back and it looks like there is a fix being worked on. I hope the fix is released very soon so that there is sufficient time before the filing deadline to make sure it works as expected. Happy 2021!
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Luis
01/05/2021, 11:36 PM
@NetSuite Chicago James T hi, thanks for letting me know.