AppFolio 1099s - December Webinar

Introduction

Frisco Miranda, Megan Clark, Michael Cotney, Katie Rudolph, Todd Smith

Presentation Team

Approximately 45 Minutes

Webinar Length

Overview of 1099s in AppFolio

Content

Please ask questions anytime!

Use the Questions section

of the GoToWebinar panel

on right of desktop

Agenda

1 Answer Common FAQ’s

2 Discuss the 1099 Steps

3 Demonstrate 1099 Steps

Polling Feedback

How Familiar are You with AppFolio 1099 Process?

• Familiar: Previously completed 1099’s in AppFolio

• Partially: Attended last months Webinar and read the Help site

• Not Familiar: Never Completed 1099’s or read the Help site

Is this Webinar being recorded?

• Will I be able to watch

it again later?

• Yes! This is being recorded and everyone will

receive a follow up email tomorrow with a link

to the recording.

• Please feel free to share the link with anyone in

your organization who could benefit from this

information.

How do I know my Data is Accurate?

1. Before starting the

production of 1099’s

PLEASE take the time

to ensure your data is

accurate

2. If you did not attend the

End-of-Year preparation

Webinar, please review

the information on the

blog post

3. http://www.appfolio.com/

blog/2014/11/appfolio-

end-of-year-preparation-

customer-webinar-recap/

What forms are supported?

• 1099-MISC • Purchase Copy A (IRS), Copy B

(Recipient), and Copy C (Payer)

depending on your state and

whether you are producing electronic

version of Copy A

• Need pre-printed blank forms

with two forms per page

• Blank forms can be purchased at office

supply stores (AppFolio does not provide

forms)

• Currently do not have1096 Form for IRS

submission, complete manually

• If more than 250 1099s, the IRS requires

filing Copy A electronically using FIRE

File

Can I Produce Printed & eFile in AppFolio?

•YES!

• AppFolio supports

generating either printed

forms or the IRS eFile

file format

Can I Adjust Printer Settings?

• Yes

• Right-side Task pane on

1099’s page

• Can adjust Left and Top

offset to adjust alignment

of printed text

• NOTE: Be sure page

scaling is turned off in

your PDF application

What accounts are included in 1099s?

• Any account that is not set

to be "Exempt from 1099

reporting” (income and

prepayments for owners, all

accounts for vendors)

• Functionality is found in

Accounting > GL Accounts

• Please note that access to

this functionality is

managed by login

permissions

Who pays Vendor 1099s?

• Setting is configured on the

Property Page in the “Owners

and Financials” section

• Can be set as either the

management company, the

property owner, or the portfolio

• If 1099 Payer is set to be the

owner or portfolio, you may see

multiple 1099s for some

vendors

How do I adjust eligibility & account settings?

• On Owner and Vendor

Record Pages:

Taxpayer Name

Taxpayer ID

Send 1099? - Checked

• On Company Settings

Page:

Company Phone Number

Taxpayer Name

Taxpayer ID

Transmitter Control Code (for

FIRE file only)

Contact Name (for FIRE file

only)

How do I Account for all Properties (Inc. Hidden)?

• Transactions on hidden

properties are included

in 1099s

• Ensure filters are set to

“Show All Properties”

Do I Need to eFile?

1. The IRS requires

anyone submitting more

than 250 forms to submit

by eFile (FIRE file) 250 or More

Forms

=

How do I get a Transmitter Control Code?

1. The Transmitter Code

(TCC) must be

requested by the IRS

2. Approval can take up to

six weeks so don’t wait

3. Learn more at:

http://www.irs.gov/taxtopi

cs/tc802.html

4. Form link here:

http://www.irs.gov/pub/ir

s-pdf/f4419.pdf

When Must I File?

1. Please note State and

Federal Deadlines may

be different

Due Date Item

February 2, 2015 2014 1099 Copies to Recipients

March 2, 2015 Paper Format: 2014 1099 Federal (IRS) Filing

March 31, 2015 E-file Format:2014 1099 Federal (IRS) Filing

Where do I go to submit IRS FIRE files

fire.irs.gov

You will need to create an account before being able to login and upload files

What is a test FIRE file?

• The IRS encourage filers to submit a test file to ensure their hardware and

software are compatible with IRS systems

• Not required, but encouraged

• Anytime Nov 1st to Feb 15th

• http://fire.test.irs.gov

• Receive email back in 1-2 days

Can I Produce a Text FIRE File?

•YES!

• AppFolio supports

generating test FIRE

files

Can I Produce a Correction FIRE File?

•YES!

• AppFolio supports

generating correction

FIRE files for Owners

Where Can I Get More Info: Help.AppFolio.com

Search “1099”

Who do I contact about Accounting Questions?

Please contact an Accountant

or CPA

Ensure Your Data is Accurate!

1. Before starting the

production of 1099’s

PLEASE take the time

to ensure your data is

accurate

2. If you did not attend the

End-of-Year preparation

Webinar, please review

the information on the

blog post

3. http://www.appfolio.com/

blog/2014/11/appfolio-

end-of-year-preparation-

customer-webinar-recap/

Run Vendor 1099’s

1. Reporting > 1099s

2. Select “Vendor,”

Ensure Year is

2014

3. Click “Search”

4. On results page,

select to either

Download FIRE

File or Print

Run Owner 1099’s

1. Reporting > 1099s

2. Select “Vendor,”

Ensure Year is

2014

3. Click “Search”

4. On results page,

select to either

Download FIRE

File or Print

Run a test FIRE file

1. Run the 1099 function

2. Select the individuals

you wish to run test

files for

3. On search results click

the “Download Test

FIRE File” button

Notes:

• Not required, but encouraged

• Anytime Nov 1st to Feb 15th

• http://fire.test.irs.gov

• Receive email back in 1-2 days

Run a correction FIRE file

1. Run the 1099 function

2. Select the individual or

property group you wish

to run correction files for

3. Check the box to

“Generate a Correction

FIRE File”

4. Click Search

5. On search results click

the “Download FIRE

File” button

Summary

1 Answer Common FAQ’s

2 Discuss the 1099 Steps

3 Demonstrate 1099 Steps

Polling Feedback

When will you Complete 1099s?

• By End of January

• By End of February

• By End of March

• Don’t Know

Tips for Success

• Start Early: Do not wait until they are due to begin the

process, this will lead to heightened stress and mistakes.

• Expect it to Take Longer Than Planned: Give yourself

some cushion to complete tasks, a good rule is to estimate

it to take 20% longer than planned.

• Set Aside Dedicated Time: Do not try to manage 1099s

while also trying to handle other responsibilities as you will

get distracted and increase the chance of mistakes.

• Send an IRS Test File: Send owners and vendors “draft”

versions of reports to have them review for any issues,

questions or concerns to avoid last minute changes and

stress during 1099 reporting.

More Info:

Search “1099”

help.appfolio.com

Action Checklist

Action

Start Now – Don’t Wait, Time Flies! ☐

Verify and Clean Up Data Before Starting! ☐

Run, Print and Mail Owner 1099s (Monday, February 2nd) ☐

Run, Print and Mail Vendor 1099s (Monday, February 2nd) ☐

Run, Print and Send 1099s to IRS• Run, Print and Mail IRS 1099s - (Monday, March 2nd - Paper)

• Run and Submit IRS FIRE File - (Tuesday, March 31st - eFile)

☐

Take a Break, You Earned It! ☐