Useful Office 1099 Reports

MoxiBalance provides many useful 1099 reports. This page explains two of the most helpful reports, the 1099 QB/Closing Items Mapping report, and the Office 1099 Breakdown report. 

1099 QB/Closing Items Mapping Report

The 1099 QB/Closing Items Mapping report looks at the data coming from your QuickBooks file to show you all the items it sees under agents. With this report, you can see how the items are set up for 1099s. This report also provides you with the name of the GL account you need to use in QuickBooks when you do the QuickBooks setup. 

To run the 1099 QB/Closing Items Mapping report:

1. Select Office Reports under Reports.
2. Click 1099 QB/Closing Items Mapping from the Report List.
3. Choose the office you want to run the report for from the Office dropdown.
4. Click Launch Report.

Items are broken down into columns:

• QuickBook names in the QB Item Name column
• MoxiBalance names in the brokerEZ Item Name column
• GL Account in the Expense Account Name column 

If the items are mapped correctly, the Expense Account Name column will show you the GL Account that you configure into box 1 to include that item in the box 1 calculation. 

Items are also organized in sections:

• Gross
• Deductions
• Ignore
• Not Mapped

For Gross 1099s you will likely include all of the items in that section for your box 1 set up inside QuickBooks. 

For Net 1099s you will use the items in the Gross and the items in the Deductions sections of the form. 

The Ignore section includes items that are set up to not be included in the 1099s.

Finally, the Not Mapped section includes:

• Items that MoxiBalance knows what they are because they were either created or connected through QuickBooks.
• Items that were not set up so MoxiBalance does not know what to do with them or how to include them in reports. 

You still have the option to include items from the Not Mapped section in your 1099s by including the GL accounts in your QuickBooks, but it is best, when possible, for agent 1099s to get all the items set up. If you need assistance, reach out to Support.

1099 Breakdown

The 1099 Breakdown shows the numbers for 1099s for each agent. The 1099 Breakdown is run per office. To run the report:

1. Select Office Reports under Reports.
2. Click 1099 Breakdown from the Report List.
3. Choose the office you want to run the report for from the Office dropdown.
4. Set the date range for the entire year (from the 1st of January to the 31st of December). 
5. Click Launch Report.

Each agent in the office is listed in the report. Each agent has a Deductions section and a Gross section. 

• For offices using Gross 1099s, the numbers should match what you want your agents to pay and what QuickBooks is going to say their 1099 is (as long as you have all the right items set into Gross).
• For offices using Net 1099s, you will include the numbers from the Gross and Deductions sections. 

The Payment section contains office fee payments. We suggest you not include Payment items in the 1099 setup because Payment money is taken from an agent's Closing, but it is being applied to additional bills so if the 1099 is the Net of those expenses then the Payment could be reported twice by accident. The Payment is included in the 1099 Breakdown because it is nice to see payments even if they are not included in the 1099.

If you are doing Net 1099s, not including the Payment numbers then you will calibrate your numbers to the Total Before Payment column of the report.

If you are including the Payments then the Total column of the report should match the agent’s final take home so you would calibrate the 1099s to the Total column.

This video provides an explanation of critical office 1099 reports: