{"id":1736,"date":"2013-12-18T12:13:59","date_gmt":"2013-12-18T20:13:59","guid":{"rendered":"http:\/\/www.rentecdirect.com\/blog\/?p=1736"},"modified":"2016-12-27T15:25:51","modified_gmt":"2016-12-27T23:25:51","slug":"new-payee-options-and-trial-balance-report-beta","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/new-payee-options-and-trial-balance-report-beta\/","title":{"rendered":"New Payee Options and Trial Balance Report Beta"},"content":{"rendered":"<p>We rolled out a couple new updates to the system this morning centered around making your reconciliation and tax reporting easier than ever!<\/p>\n<ol>\n<li>With the new <a title=\"Major System Update \u2013 Improved Ledgers, New Forms, More!\" href=\"http:\/\/www.rentecdirect.com\/blog\/2013\/11\/major-system-update-improved-ledgers-new-forms-more\/\">collected vendor feature<\/a> rolled out a few weeks ago, we recognize this may be growing your 1099 reports, and 1099-efile list of vendors dramatically. \u00a0To help control this, we&#8217;ve rolled out two new options:\n<ul>\n<li>When editing a payee, you can now exclude them from 1099 reports by unchecking the new 1099-MISC option in the upper-right of the screen. \u00a0This will remove this payee from all 1099 reports and efile.<\/li>\n<li>Within Settings, Program Defaults, Advanced Settings, you can also now remove all &#8220;collected&#8221; payees from 1099 based reports. Just set the new option to &#8220;No&#8221; and all collected payees will no longer litter up your 1099 reports. \u00a0This causes the system to behave the same way it used to in regards to one-time payees.<br \/>\n<em>Tip: \u00a0Use this feature cautiously. \u00a0Disabling collected payees from 1099 reports could cause you to accidentally not issue 1099&#8217;s for some payees that you may have intended to.<\/em><\/li>\n<\/ul>\n<\/li>\n<li><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-1738\" alt=\"trial_balance_report\" src=\"\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2013\/12\/trial_balance_report-300x150.png\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2013\/12\/trial_balance_report-300x150.png 300w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2013\/12\/trial_balance_report-600x300.png 600w, https:\/\/www.rentecdirect.com\/blog\/wp-content\/uploads\/2013\/12\/trial_balance_report.png 716w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>We&#8217;ve also added in a Trial Balance report within Financial Reports. \u00a0Trial balance reports are often used for reconciling owner or property accounts to ensure the debits and credits equal zero at the end of a period. \u00a0This report is also useful for complying with state real-estate trust accounting rules. \u00a0For more information about Trial Balance reports, please see this\u00a0<a href=\"http:\/\/en.wikipedia.org\/wiki\/Trial_balance\">wikipedia\u00a0article<\/a>. \u00a0The report is fully functional; however, we&#8217;re going to leave it marked *IN TESTING* (aka, Beta) for the time being until we&#8217;ve received additional client feedback.\n<p>We&#8217;ve also discovered that the term &#8220;Trial Balance Report&#8221; means a lot of different things to a lot of different people. \u00a0Looking at best accounting practices we&#8217;ve crafted ours to match the most common type of trial balance reports for the property management industry. \u00a0If your state or corporation is used to a different type of trial balance report and it&#8217;s desired, please let us know about it by sending a sample to <a href=\"mailto:support@rentecdirect.com\">support@rentecdirect.com<\/a>.<\/li>\n<\/ol>\n<p>P.S. \u00a0Don&#8217;t forget, time to send in 1099s is right around the corner. \u00a0Rentec can make this process a snap by electronically filing them for you using the existing data in your system. \u00a0See our post about <a title=\"Electronic 1099-MISC Filing\" href=\"http:\/\/www.rentecdirect.com\/blog\/2013\/12\/electronic-1099-misc-filing\/\">electronic 1099-MISC filing<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We rolled out a couple new updates to the system this morning centered around making your reconciliation and tax reporting easier than ever! With the new collected vendor feature rolled out a few weeks ago, we recognize this may be growing your 1099 reports, and 1099-efile list of vendors dramatically. \u00a0To help control this, we&#8217;ve [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"iawp_total_views":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[352,472,471,390],"class_list":["post-1736","post","type-post","status-publish","format-standard","hentry","category-product-update","tag-1099-misc","tag-payees","tag-trial-balance","tag-vendors","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Payee Options and Trial Balance Report Beta<\/title>\n<meta name=\"description\" content=\"We rolled out a couple new updates to the system this morning centered around making your reconciliation and tax reporting easier than ever! With the new\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentecdirect.com\/blog\/new-payee-options-and-trial-balance-report-beta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Payee Options and Trial Balance Report Beta\" \/>\n<meta property=\"og:description\" content=\"We rolled out a couple new updates to the system this morning centered around making your reconciliation and tax reporting easier than ever! 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