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SuiteWorld October 6 - 9, 2025: Agenda Builder is live!
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Read on for the latest updates including:
• Agenda Builder launch
• SuiteWorld On Air registration
• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
NS 1099-MISC Boxes have been WRONG since 2021
I am preparing for 1099 season. I assume that NetSuite is up-to-date and always current. After all that is why a SAAS software is the used - to eliminate the need for manual updates.
When setting up some accounts to match 1099 categories I noticed that the BOX designations in NetSuite are wrong.
BOX 9 should be CROP Insurance Proceeds.
BOX 10 should be Gross proceeds paid to an attorney.
I have also noted that for the SOVOS 1099 reporting program to work, BOTH the Vendor and the ACCOUNT must be marked as 1099 eligible.
However this ignores the fact that ATTORNEY FEES can be both Legal Expense and Payments for a SETTLEMENT.
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