Dynamics GP
Dynamics GP
Organizer:
- Organized by
-
-
1099 and non-1099 payment for same vendor
-
1099 and non-1099 payment for same vendor
-
Good afternoon everyone,We are going to have about a dozen vendors in which part of their payment will be subject to 1099 and the other will not.
For example: vendor XYZ is owed $10,000. $9,000 should not be 1099 but $1,000 needs to be 1099.
Is there a way to accomplish this task without having to setup duplicate vendors, one as a “miscellaneous” (1099) and the other as a “not a 1099 vendor”?
Any help is greatly appreciated.
Best regards,
——————————
Edgar Manriquez
Assistant Controller
Schurz Communications, Inc.
Mishawaka IN
—————————— -
Yes, you can have 1 vendor. The key is when you enter the invoice. Of course you enter the entire invoice amount in the Purchases field. Over to the right (where you don’t typically have to look) is the 1099 field. Insert the amount which should be included on the 1099 in this field. Click on the blue arrow next to this field to be sure to set the correct 1099 type and box.
——————————
Diana Doane
Ascend Learning, LLC
Leawood KS
——————————
——————————————- -
You can also edit the 1099 amount (per transaction) after posting if you’ve made any mistakes:
Purchasing > Transactions > Edit 1099 Transaction Information
——————————
Amber Bell
Training Dynamo LLC
Email: amber@trainingdynamo.com
Website: http://www.trainingdynamo.com
Twitter: @trainingdynamo
——————————
——————————————- -
We also have vendors with 1099 and non-1099 transactions. Back when we used PeopleSoft, we had a feature that allowed us to assign 1099 transaction status by account segment code. The feature is very useful for situations like this.
I have created a detailed feature proposal – 1099 Amount Inclusion by Account Segment Code – on Microsoft Connect, and the product team indicated that it may be considered for a future release. I encourage all Collaborators to vote for this product suggestion to make that happen.
——————————
Lou Spevack
Systems Accountant | Dynamics Credentialed Professional
American Council on Education
Washington DC
——————————
——————————————-
-
-
0 Replies
Sorry, there were no replies found.
