Manage Your 1099-Eligible Payees

You can flag payees that qualify as 1099-eligible and produce reports to monitor your firm’s payments to those payees.  


If you have additional questions on specific situations for your firm, please contact your accountant or speak with a Certified CosmoLex Consultant

Tag a Payee as 1099-Eligible

To tag a payee as 1099-eligible:

  1. Edit the payee you want to flag.
  2. Confirm the Tax ID is accurate.
  3. Check the 1099 Eligible box.
  4. Under the Contact Info section, confirm the address is accurate.
  5. In the lower right corner, click Save.
    The system saves your payee flag and displays it on the Payee screen. You can use search filters to identify these payees.

Only payees added under Contacts > Payees or remembered as payees when entering a transaction display in the Payee listing. Those payees you choose not to remember will default as 1099-eligible.

Generate a 1099 Payee Ledger for Filing

To generate a 1099 Payee Ledger for filing:

  1. Generate a 1099 Payee Ledger Report
  2. The CosmoLex 1099 report includes all payees except those for whom you did not check the 1099 Eligible box. To exclude any payee, edit the payee and uncheck the 1099 Eligible box. If the payee is not listed, add the payee and keep 1099 Eligible unchecked.  
  3. Re-generate the report, if needed.
Updated on August 6, 2021

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