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[Steve Podvin]

What is the proper way to void a prior year vendor check that previously generated a 1099 and not have the reissue accumulate in the current year 1099?

Currently we voided a check that was issued in 2013 and reissued the check in 2017.  The reissue is accumulating in 2017 as 1099 reportable.  The payment in 2013 had already been reported on their 1099 and this should not be accumulating in 2017.

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Steve Podvin
United Physicians
Bingham Farms MI
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[Kristen Hosman]

I would start with Voiding the Historical Transaction and make sure to change the void date and the posting date to today.  Then when you reprint the check it would be today’s date and will wash itself out in the GL.  

You can edit the 1099 transaction information and remove the transaction so it won’t show on this years 1099.  Go to Purchasing > Transactions > Edit 1099 Transaction Information.  In the tax type column select not a 1099 transaction.  That should do the trick.

You may need security access for this window if you don’t normally do the 1099’s for the company.

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Kristen Hosman
Accounting Manager
PlatinumCode
Pine CO
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[Steve Podvin]

Logically this should be a built-in for any accounting software. 

 

There will always be situations that require a check to be voided, that was issued in a prior year, and then a replacement check reissued in the current year. 

 

This is not an unusual thing and since the 1099 was issued in the prior year GP need not que up another 1099 in the current year for the same invoice.

 

We were looking for the programming logic in GP2016 but as far as I can tell this seems like yet another manual process.    

 

Does anyone know if this 1099 issue is strictly a manual process?

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Steve Podvin
United Physicians
Bingham Farms MI
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[Leslie Vail]

?Hi,
Forms 1099 can get complicated. In Dynamics GP 1099 world, a 1099 for let’s say a 2,000  invoice is entered and the amount that should be reported on the 2000 is fixed. If a payment is received against the 2,000 and is not  applied as such. So, the bottom line of this is that your 1099 amounts are not applied to invoices until the money they require they req1Peacefully.
Kind regards,
Leslie

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Leslie Vail
Accounting Systems Consulting, Inc.
Dallas TX
leslievail@earthlink.net 972-814-8550
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[Angie Wells]

?Steve – You should set the check void date to a date in 2017.  When you enter a current year voucher to rewrite the check in the Payables Transaction Entry screen, there is a box for “1099 Amount”.  For vendors set up to receive 1099s, this field will prefill with the amount of the check, but you can change it to zero so that the amount of the rewritten check will not be included in the 2017 Form 1099 totals for the vendor.

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Angie Wells
staff accountant
Berkshire Hathaway Inc.
Omaha NE
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[Steve Podvin]

Thank you Angie,

This Helps

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Steve Podvin
United Physicians
Bingham Farms MI
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