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This is our first year on GP. Is there a procedure to bring over partial year data for 1099 tax forms? The hope is that we could bring the prior 6 months data over and use the native 1099 reporting methods to prepare the final 1099 tax form.
How is this normally done during the first year?
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Richard, not W-2 but 1099. 1099 for Retirees yes. But the normal method would be the following: from the year end Payables closing article: support.microsoft.com/.../918536
Note Before you follow the instructions in this article, make sure that you have a complete backup copy of the database that you can restore if a problem occurs
1.Have all users exit Microsoft Dynamics GP.
2. On the Cards menu, point to Purchasing, and then click Summary.
3. In the Vendor ID list, click the appropriate vendor ID, and then click Period.
4.In the Vendor Period Summary window, click the right arrow button next to the 1099 Amount field.
5. In the 1099 Details window, click Month or Year in the Display area.
6. In the Year field, type the appropriate year. If you clicked Month in step 5, click the appropriate month in the Month list.
7. Type the 1099 amount in the Amount field for the appropriate 1099 Box, and then click Save.
8. Repeat steps 6 and 7 to change the 1099 amounts for other periods or years.
9. Click Save, and then close the 1099 Details window.
10.In the Vendor Credit Summary window, click Save.
A tool is available that you can use to automatically update a vendor so that the vendor has the correct 1099 amounts. This tool is called the 1099 Modifier and is available as part of the Professional Services Tools Library (PSTL) package.
The normal process is to take you current year-to-date values and enter a manual payroll check batch. Once posted the year-to-date figures will now be in GP.
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