Filing 1099s in Revela

Overview

Purpose: This guide explains how to review and file 1099-NEC and 1099-MISC forms for vendors and owners in Revela, ensuring accurate tax reporting.
Target Audience: Property managers, accountants, and administrative teams responsible for tax compliance.

Step-by-Step

1. Preparing for 1099 Filing

Before filing your 1099s, conducting a vendor audit can streamline the process and prevent errors.

Which Vendors Are Eligible for a 1099-NEC?

A vendor is eligible for a 1099-NEC in Revela if they meet all the following criteria:

Vendor Type: Contractor, Financial, or Legal
Entity Type: Any entity EXCEPT C Corporation, S Corporation, or Nonprofit
Payment Threshold: Paid $600.00 or more during the tax year

Which Owners/Landlords Are Eligible for a 1099-MISC?

Owners/Landlords who received $600.00+ in revenue from tenant payments.

2. Creating a 1099 Filing Account

To begin filing vendor 1099s, follow these steps:

Navigate to Accounting > 1099s within Revela.
Click "Get Started."
If this is your first time accessing the page, you will be prompted to create a Nelco account.
Verify that the information on the form is accurate, create a password, and click Submit.

Note: This step is only required the first time you access the page.

Once inside, you will be able to view all eligible vendors and owners who have been paid $600.00 or more during the tax year.

3. Reviewing Vendors & Owners for Accuracy

Reviewing via Reports

Vendor 1099s Report – Ensures all necessary vendor information is present.
Owner 1099s Report – Confirms eligible landlords and revenue details.

Reviewing on the 1099 Page (Accounting > 1099s)

Issues Column: Identifies missing critical information that could prevent 1099 filing.
Manual Adjustments:
- If a vendor’s reported amount needs to be adjusted, click "View" in the right-hand column.
- Add a Manual Adjustment to modify the total 1099 amount before filing.

Skipping a Record (If Needed)

If a record should not be included in the 1099 filing, select the checkbox and click “Skip”.
To undo a skipped record, select it again and click “Unskip” in the search bar.

4. Filing 1099s in Revela

Once all vendor and owner information is reviewed and verified, follow these steps to file:

Select the records you want to file.
Click "Review and File."

You will be taken to a final review page to verify all details.
The system will display:
- Estimated filing cost
- Breakdown of the number of forms being filed
Click "Submit" to complete the filing process.
Filing charges will appear on your next Revela invoice.

5. Making Adjustments 1099s in Revela

If for any reason a vendor amount needs to be adjusted, adjustment amounts can be added by clicking the “View” link in the right hand column and adding a Manual Adjustment to the vendor amount. This will change the total amount represented on the 1099 that is filed.

Once you make the adjustment, please check the vendor under Accounting -> 1099s page and make sure you click on Corrections. This step resends the corrected form to the vendor via email and mail.

Best Practices & Tips

✔ Complete a vendor review before filing to ensure all required details are present.
✔ Use manual adjustments if amounts need corrections before submission.
✔ Double-check the entity type to determine whether a vendor qualifies for 1099-NEC or 1099-MISC.
✔ Use the "Skip" option for vendors/owners who do not need a 1099 to prevent unnecessary filings.

Common Issues & Troubleshooting

Issue 1: Missing Vendor or Owner Information

Solution: Check the Issues Column on the 1099 page and update missing fields.

Issue 2: Incorrect Payment Amounts on 1099s

Solution: Use the Manual Adjustment option to correct the reported amount.

Issue 3: A Vendor or Owner Is Showing Up That Shouldn’t Be Filed

Solution: Select the record and click "Skip" to exclude them from the filing.