[Burgen Havens]

New to GP (June 2016) 
I have a 1099 that needs corrected.
There are 2 issues
The vendor has gone from Sole Proprietor, to LLC, BACK To Sole Proprietor. 
The Tax ID throughout has been his SS#. When he went to the LLC, the Tax ID was not corrected in GP to the LLC tax ID
He Changed back to Sole Proprietor in Dec 2016. I changed the Vendor Name (using the same vendor ID)  not knowing that I should have created a new vendor. 

For fiscal year 15/16 He did business as the LLC & SP, but the transactions were all under his SS#. 

I need 2 1099’s, one for the LLC and one for the SP. 
1. Can I split the transactions and correct his tax id for both entities?
2. Can I reprint the 1099 through GP or should I do them by hand. 

Thanks

[Amber Martin]

Hello Burgen,

I am not sure that you can split the transactions already posted between the two, but you can add his new FEIN and vendor name as a new vendor. GP allows you to manually enter the 1099 amounts per month, even if the transactions did not occur through payables. 

For the current vendor you have setup – I would edit the total in box 7 to total what should be the amount for the SP – make sure on that vendor card you have the SS# & proper name setup.

You can edit the 1099 details by going to Purchasing-Cards-1099 details. 

Once in the window – change the Display to Year & manually enter the amount to be 1099d for the year in box 7. (Also – make sure the correct year is selected in the year box

Next, you will want to setup the LLC as a new vendor – then repeat the steps above and enter the amount in Box 7 that should be 1099d for the LLC.

Updating the 1099 details will not effect your payables history – it will just ensure that the 1099s you print are accurate. 

Hope this helps,

Amber

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Amber Martin
Senior Accountant
Marsh, Berry & Company, Inc.
Woodmere OH
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[Burgen Havens]

Wow, thank you so much!!! 

Just to clarify, if I fix box 7 under the Current vendor (SP with correct ss# tax id) with the correct amount, and set up a new vendor for the LLC, and use the remaining amount, will this cause balance problems in my accounts payable? Or because I’m essentially creating 2 vendors with the same TOTAL amount there won’t be any issues? Also, can I reprint the 1099’s? 

You’ve been a big help, thanks!!! 

B

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Burgen Havens
Rancho Santa Fe Fire Protection District
Rancho Santa Fe CA
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[Burgen Havens]

also AMy, When in cards>Purchasing? 1099 details, I can’t seem to edit or change box 7. AM I missing a step? 
Or do I need to go to purchasing .edit 1099 details which gives me this:

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Burgen Havens
Rancho Santa Fe Fire Protection District
Rancho Santa Fe CA
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[Patty Stepp]

Use the 1099 Details screen to edit the totals.  You must change the radio button from “Year” to “Month” before you are able to change the numbers.  You can change all months or just one.  This is summary information so determining the difference you need and changing one month should be fine.   After to enter the amount and save it.  Pull it back up with “Year” selected to verify the total is correct.  Once the total is correct, you can reprint your 1099.

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Patty Stepp
Conexus SG
Plano TX
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[Leslie Vail]

Please be aware that if you run the reconcile utility, the 1099 amounts you manually added will be wiped out. You may be better served to void the transactions that belong to the new vendor and re-enter them. Personally, I take a hard stance against ‘changing the 1099 at the end of the year’. The 1099 goes to whomever I wrote the check to. If they wanted it another way, they should have told me before they cashed the check. If you didn’t write the check to the LLC, how do you know you should split it. I guess I’m mean about this, but I don’t feel responsible for a vendor’s tax issues. If I wrote the check to Joe Smith, and he cashed it, it goes on his 1099, end of story. Is he willing to pay you for the time you will be expending dealing with this?
Living the dream in Dallas, but it looks like I may need to be more forgiving.
Leslie

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Leslie Vail
Accounting Systems Consulting, Inc.
Dallas TX
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