1099 and non-1099 payment for same vendor

  • 1099 and non-1099 payment for same vendor

    Posted by emanriquez@schurz.com on April 19, 2017 at 12:01 pm
    • Edgar Manriquez

      Member

      April 19, 2017 at 12:01 PM

      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
      ——————————

    • Diana Doane

      Member

      April 19, 2017 at 12:27 PM

      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
      ——————————
      ——————————————-

    • Amber Bell

      Member

      April 19, 2017 at 12:41 PM

      You can also edit the 1099 amount (per transaction) after posting if you’ve made any mistakes:

      Purchasing > Transactions > Edit 1099 Transaction Information

      frk9GwQ6TJOpL1u2uLQt_1099 edit.JPG

      ——————————
      Amber Bell
      Training Dynamo LLC
      Email: amber@trainingdynamo.com
      Website: http://www.trainingdynamo.com
      Twitter: @trainingdynamo
      ——————————
      ——————————————-

    • Lou Spevack

      Member

      April 20, 2017 at 10:06 AM

      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
      ——————————
      ——————————————-

    Members

    emanriquez@schurz.com replied 7 years, 10 months ago 1 Member · 0 Replies
  • 0 Replies

Sorry, there were no replies found.

The discussion ‘1099 and non-1099 payment for same vendor’ is closed to new replies.

Start of Discussion
0 of 0 replies June 2018
Now

Welcome to our new site!

Here you will find a wealth of information created for people  that are on a mission to redefine business models with cloud techinologies, AI, automation, low code / no code applications, data, security & more to compete in the Acceleration Economy!