Year-end closing in Sage Intacct is most efficient and accurate when treated as an ongoing process rather than a single event. By focusing on key technical configurations, validating 1099 data early, and leveraging automation for bank reconciliations, finance teams can reduce the risk of manual errors and close the books with confidence.
Sage Intacct 1099 Processing Guide
Before proceeding with year-end 1099 configuration, finance teams should ensure familiarity with the complete processing workflow in Sage Intacct. While this guide addresses individual settings within the closing process, the technical execution of vendor setup, transaction categorization, e-filing procedures, and state compliance requirements requires additional depth.
SWK Technologies maintains a detailed reference covering IRS e-file thresholds, the TaxBandits integration’s mechanics, form-specific requirements for 1099-NEC versus 1099-MISC, and common filing errors. Follow the link below to review the foundational 1099 processing workflow, then return to Phase 1 for year-end configuration procedures:
Phase 1: Pre-Close Preparation and 1099 Configuration
Early preparation begins with verifying your 1099 settings, especially in complex multi-entity environments.
- Multi-Entity Configuration: For organizations that must file per entity, verify that the “Issue a separate 1099 per entity” setting is enabled in the multi-entity configuration.
- Entity Data Integrity: Each entity filing separately must have a valid Federal ID, a designated legal contact, and a complete legal name and address specifically enabled for 1099 forms.
- Accounts Payable Flexibility: In your AP configuration, enable the “1099 flag override” and “1099 form and box override”. These settings allow you to make critical bill-level adjustments rather than being restricted to a default classification for every transaction.
Phase 2: Vendor Data Validation
Proactive review of vendor data prevents the need for retroactive tagging in January.
- 1099 Review View: Create a custom vendor list view that includes the “1099 form type” and “1099 box” columns. This allows you to quickly sort and identify vendors missing critical tax information.
- Bulk Updating with Templates: For mass updates, export your vendor list to capture IDs and use the vendor import template to populate the 1099 type and box fields for multiple records at once.
- Retroactive Transaction Updates: If you enabled 1099 settings for a vendor late in the year, use the Vendor 1099 Transaction Update import to retroactively tag historical AP bills.
Phase 3: Bank Reconciliation and GL Hygiene
Utilizing Sage Intacct’s automation features can significantly reduce the manual effort of reconciling year-end accounts.
- Bank Transaction Assistant: This tool allows you to import bank transactions using a simple file containing only the Date, Description, and Amount, and is particularly useful for organizations that do not utilize direct bank feeds. It creates a bank-side record for reconciliation without posting journal entries or payments.
- Auto-Matching Rules: Define matching criteria based on document numbers, amounts, or dates to automatically link bank-side and system-side transactions.
- General Ledger Integrity: Prevent subledger imbalances by enabling “disallow direct posting” on control accounts. Leverage transaction allocations and recurring journal entries to automate recurring or standardized journal activity.
Phase 4: Final Closing and 1099 Filing
As you move toward the final close, use built-in assistants to track your progress.
- Copilot Close Assistant: If enabled in your environment, utilize this AI-driven tool to monitor closing milestones, identify unposted bills, and view the status of reconciliations in real-time.
- Filing Options: Choose between printing 1099s onto official forms or utilizing the TaxBandits integration for direct electronic filing.
Phase 5: Post-Close Best Practices
Once the year is closed, complete these final housekeeping steps to ensure reporting accuracy in the new year.
- Financial Reporting Validation: Confirm balance sheet accuracy by checking QuickStart categories in your Chart of Accounts. Missing categories can exclude accounts from standard financial reports.
- 2026 Readiness: Create custom reporting periods for the upcoming year, import new budgets through the Budget Repository, and review user roles and permissions.
- Audit Readiness: Organize supporting year-end documentation into a dedicated attachment folder for easy retrieval.
Support and Next Steps
A successful year-end close is the result of continuous system maintenance. If you have questions regarding your 1099 configuration, bank matching rules, or post-close reporting, our team is available to assist.
For technical support or consulting inquiries:
- Website: swktech.com
- Email: info@swktech.com
- Resources: Visit our website for additional Sage Intacct technical guides and videos.
Sage Intacct Year-End Demo:
The procedures outlined in this guide are covered further in SWK Technologies’ comprehensive Sage Intacct year-end webinar. If you would like to see a live demonstration of these features and deeper technical insights, watch the full webinar recording here:
Sage Intacct Year-End: Tips, Tricks, & Best Practices