Does anyone know how the 1099 amount gets populated on the purchasing receivings window? Our amounts are off this year and it appears to have something to with this field not being updated as we have received transactions instead of posting invoices. The ones in question are set up as 1099 vendors.
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thanks that is very helpful.
Michelle,
1099 are calculated on Payments that are applied to Invoices which have 1099 amounts. Normally, a Receipt would be matched to an Invoice and the Invoice would default the total as a 1099 amount if the vendor is set up to be a 1099 vendor. As Richard mentioned, this can be changed per invoice.
Receipt transactions that are not matched to invoices would never update any 1099 information.
After posting the above, I remembered some other information. The 1099 amounts can be changed per invoice and the 1099 type or box number changed per invoice. Once these are posted, they can be edited by using the Utility to Update 1099 information.
Bottom line, if you know the correct 1099 amounts for vendors, they can be individually edited. Use the 1099 Details option under Payables Management->Cards.
When a vendor is marked as a 1099 vendor and invoices posted, the total of the invoice defaults as the 1099 amount and is added to the total for the vendor. If the amounts are off, confirm that vendors are marked properly and run payables reconcile.
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