Back to the Basics: Setting Up a 1099 Vendor in Dynamics 365 F&O

This probably sounds like a very common scenario that you have run into: A company hires a contractor or freelancer to work for them – it could be a management consultant, someone who paints the exterior of the office building, or a landscaping professional – in any case, these individuals need to be set up as a 1099 Vendor in your ERP system.

So, how do you properly set up 1099 Vendors in Dynamics 365 Finance & Operations so you can stay compliant with tax laws and regulations surrounding payments for contractors?