Steps to Adjust 1099 AmountsFrom the Accounts Payable screen, select the Maintenance menu and then Vendors.
At the Vendors screen, enter the ID of the vendor to set up as a 1099 vendor in the Vendor ID field. If the ID is not known, click the down-arrow button or the Find button to select the correct one.
Click the Miscellaneous tab.
Enter the correct type of the federal ID number that will be entered in the Federal ID Type field, or click the down-arrow button to select the correct one. The available types are: Adoption Taxpayer Identification Number, Employer Identification Number, Individual Taxpayer Identification Number, or Social Security Number.
If the Federal ID Type field is completed, the Federal ID field is enabled. Enter the federal ID number of the vendor in the Federal ID field. The number can be up to 9 digits long (plus up to 2 dashes if needed). The system will automatically add the dashes for the federal ID number using the following formats: 1) ## - ####### if the type is Employer Identification Number; or 2) ### - ## - #### if the type is Adoption Taxpayer Identification Number, Individual Taxpayer Identification Number, or Social Security Number.
Tip: If the federal ID number is not known at this time, leave the Federal ID Type and Federal ID fields blank, and then make sure to complete the fields before generating a 1099 form for the vendor at the end of the calendar year.
Enter the box number for where to post the year-end totals on the 1099 for the vendor in the Federal Form Box ID field, or click the down-arrow button to select the correct one. If the Accumulate 1099 Amount field is selected, the default of Box 7 will appear, but can be changed.
If needed, enter the additional business name to print on the 1099 form for the vendor in the Additional Recipient Name field. The name can be alphanumeric and up to 40 characters long.
If the Additional Recipient Name field is completed, the Print Location field is enabled. In the Print Location field, enter the desired location (Line 1 or Line 2 (DBA)) to specify whether to print the additional name as the first or second line on the 1099, or click the down-arrow button to select the correct one.
Select the Accumulate 1099 Amount field to have the system automatically track the 1099 amounts when entering invoices for the vendor. A checkmark will appear in the box if the field is selected.
Note: Only select this field if a 1099 form should be generated for the vendor.
If the vendor is an organization that is exempt from tax, select the Tax Exempt field. A checkmark will appear in the box if the field is selected.
If desired, enter the date a W9 form was sent to the vendor in the W9 Sent Date field. Use the mm/dd/yyyy format or click the down-arrow button to select the correct date.
If desired, enter the date a W9 form was received from the vendor in the W9 Received Date field. Use the mm/dd/yyyy format or click the down-arrow button to select the correct date.
Click the Save button.
If the Accumulate 1099 Amount field was just selected and the vendor has accumulations, a prompt will appear stating to use the Adjust 1099 Amounts option to make the necessary adjustments; click OK and then make the adjustments as needed.