- Knowledge Base Categories:
- School Accounting System
- Accounts Payable
- End of Calendar Year
FAQ: How do I add a 1099 vendor to the system?
If it is a new vendor, add the vendor to the Vendor File. From the Accounts Payable screen, select the Maintenance menu and then Vendors. Complete the required fields and then be sure to complete the Federal ID Type field, Federal ID field, Federal Form Type field, Federal Form Box ID field, and Additional Recipient Name field (if necessary), and select the Accumulate 1099 Amount field. Refer to the Adding a Vendor topic in the Help File for more details. (Note: If the federal ID is not known, leave the Federal ID field blank; it will need to be entered before generating the 1099 forms at the end of the calendar year.)
If an existing vendor should have been marked as a 1099 vendor at the beginning of the year but was not, generate a report (i.e. Vendor Inquiry report) for the calendar year to get the total that should be accumulated as the 1099 amount. Then use the Adjust 1099 Amounts option to enter the adjustment (refer to the Adjusting 1099 Amounts topic in the Help File for step-by-step instructions). Also, if needed, make the appropriate changes to the vendor in the Vendor File (complete the Federal ID Type field, Federal ID field, Federal Form Type field, Federal Form Box ID field, and Additional Recipient Name field (if necessary), and select the Accumulate 1099 Amount field). Refer to the Setting Up an Existing Vendor as a 1099 Vendor topic in the Help File.