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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / how to correct 1099 it...
Small and medium business | Business Central, N...
Suggested Answer

how to correct 1099 item not marked as invoice

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Posted on by Petronila 390

Hello Community!

In reviewing the 1099 reporting items I noticed that failed to mark the document as "invoice" at the time the document was entered for payment.

Business central has the item marked as a "1099 NEC reporting" however, this amount is not being added to the 1099 report listing.  My guess is that the document was not marked as an invoice, therefore the system is not recognizing this as a 1099 amount.

Is there a way to correct this transaction.?  The amount was processed in July and has been fully paid.  The bank account has been reconciled.

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Thank you in advance for any feedback!

I have the same question (0)
  • Suggested answer
    MahGah Profile Picture
    MahGah 15,613 on at

    Hi

    Go to Vendor Ledger Entries then make sure you have the following fields if not add them through Personalization: IRS 1099 Code and IRS 1099 Amount. Then if you click on Edit List you can correct and change them. 

    I hope this help 

  • Petronila Profile Picture
    Petronila 390 on at

    Hi -- thanks so much for responding.

    Yes, I do have the field 1099 Code, and the amount in question is on the field.  

    When we entered the invoice -- using a WorkFlow batch -- we failed to mark the document as "invoice".  So even though the IRS field is showing correctly, the amount does not appear on the 1099 report.  I discovered the problem, comparing the check register to the 1099 reports.

    I tried exporting and correcting the "document field" but you cannot edit this field.  Also, there is no option to void the transaction, as the account has been reconciled.

    I cannot find any other way to correct this....

    Thanks so much again for taking the time to respond.

  • Suggested answer
    MahGah Profile Picture
    MahGah 15,613 on at

    Hi

    Thanks for information. I think the question is how to change the document to invoice? I know through development you can do this but it is not recommended.

    Thanks

  • Petronila Profile Picture
    Petronila 390 on at

    Thanks again for the feedback.  My main objective is correcting the 1099 report.  I am open to any other option that may be suitable for addressing this problem.

    Thank you!

  • Suggested answer
    MahGah Profile Picture
    MahGah 15,613 on at

    This is just a thought and I am not sure even is correct or not. Even I am not sure if accounting agrees with it or not. 

    Is it possible to post purchase invoice with the same amount, same date, for the same vendor to fix the 1099 then run the 1099 and then issue credit memo for the same amount to 0 out the purchase invoice? 

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