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A Shot of Business Central and A Beer | Episode 34


Welcome back to episode 34 of A Shot of Business Central and A Beer, presented by Solution Systems, a Gold Microsoft Partner. In this month's episode of a Shot of Business Central and A Beer we’re talking about some of the latest news, diving into the 2022 Release Wave 1 new features, and taking a look at an app that may be of use during tax season.


Podcast Segments


0:00 Podcast Opening

0:25 Intro and Beer Choice

7:17 Business Central News

23:11 2022 Release Wave 2 Feature Overview

1:15:03 1099 Toolkit App Review

1:21:44 Thank you for listening!






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A Shot of Business Central and A Beer Podcast Show Notes


This Episodes Alcohol Choice


Pipeworks Brewery Co. was established in Chicago in 2012.

  • Located at 3912 W. Mclean Ave in Chicago IL

  • Known for its distinctive beers and original artwork.


  • Rye Ale with smoked malt, brown sugar, black pepper, coriander seed, red pepper, and mustard seed

  • Limited | Official Collaboration with Manny's Cafeteria & Delicatessen in Chicago, IL.

Ken Rating: 81

Michael Rating: 84




Business Central News



  • Cutover has been extended from March 10th to June 30, 2022.

  • Microsoft has added a new Introduction: New commerce promotions webpage.

  • You now have the option to set a trial to auto renew. This option will not be enabled by default.

  • If a legacy subscription expires before the customer migrates to the NCE the customer will have full access to their system for 90 days.



Key Dates

  • 1-25-22 Release Plans are available

  • 1-31-22 Early access is available

  • 2-23-22 Release plans are available in Danish, Dutch, Finnish, French, German, Italian, Japanese, Norwegian, Portuguese, Spanish, and Swedish languages.

  • 4-1-22 is General Availability for this update.

Out of the 48 new features 15 were suggested through the Microsoft Ideas page.


Michael's Favorite New Features



Once installed you can see a 1099 Toolkit drop down menu on the ribbon.


Key Capabilities (from website)

  • Automatically identify and correct vendor Federal ID issues

  • Review all reportable 1099 information in one view and easily make corrections right on the spot

  • Preview all 1099 information by vendor before printing

  • Print and upload 1099s to the FIRE portal from Business Central

  • Print in 1096s - not in Business Central

  • New features make transitioning to and managing new 1099 NEC reporting requirements simple and easy


1099 Tool Kit

  • That being said, it looks as if in the future when the IRS releases new documents you can add these documents through the 1099 Tool Kit app and then “recode” the old form to the new form.

  • Has a report to show any issues with the Federal ID.

    • For example, you’ll see customers with missing Federal IDs, customers with duplicated Federal IDs, customers whose federal ID is not 9 characters long, etc.

    • In native BC, I believe you can use filtered lists to see which customers don’t have Federal IDs assigned but that’s all you’ll be able to see.

    • Vendor Prep Information Page corrects the following BC issues:

      • The minimum amount paid for a vendor to receive a 1099 is $600. Business Central does not recognize this amount and sends all vendors setup as a 1099 a 1099 form regardless of amount. Vendor could have been paid $100 and they will get a 1099 form.

      • If a vendor was charge $2,000 on an invoice but only $1,000 is reportable Business Central will print a 1099 for the entire $2,000.

  • Has an Information Summary Report that shows what 1099s will be reported, how much the amount is, an what will be printed.

  • Has a 1099 Toolkit Vendor Summary report that shows the individual lines that are associated with 1099s that will be printed.


Outro


Well, you’ve reached the end of another episode of A Shot of Business Central and A Beer podcast. Connect with us at www.solsyst.com and on all major social media channels. Also, don’t forget to subscribe to the podcast so you always know when the latest episode is available.


See you next month!

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