This may sound like a stupid question, and I apologize.
We have only been using BC for a few months and I am still getting used to it, have used GP many years ago, so this is a little different.
I want to make sure that I am processing transaction correctly for 1099 reporting at the end of 2021.
I setup a Vendor and code them as being 1099 eligible on the Vendor Card.
I want to make sure we are entering the payment correctly, so I did a test in the sample company.
Entered Purchase Invoice and paid it, all showed up correctly on the 1099 Inf Report.
I then tried entering a transaction using the Payment Journal (paying an accrued expense):
Line 1: G/L Liability Account -> Vendor Ledger
Line 2: Vendor Ledger -> Bank Account
This shows up in the Vendor/Ledger Entry with the 1099 amount but does not show up on the 1099 Inf Report.
From what I can tell, in order to have a payment show up on the 1099 Report, it must be applied to an Invoice Document.
Am I understanding this correctly, or am I missing something.
Thanks in advance for the help.
Jim
