Calculate 1099 payments
The Calculate 1099 payments function is an utility to create supplier 1099 payment records. At year end, the payment records generated during this processing and any supplier 1099 beginning balance amount will be used to determine the amount to report on the 1099.
Prerequisites
Refer to documentation Implementation
Screen management
Entry screen
This function will calculate 1099 supplier payment records when a supplier that is tracked for 1099 processing has payments associated with invoices. The function will create a supplier payment record for each unique year, company, supplier, form, box, invoice, and payment record and will contain the 1099 payment amount. Once the records are created, the user may review and edit the records using the 1099 Payment summary function. The user will have the ability to set or modify the 1099 form, box and 1099 amount prior to printing 1099 forms.
If the "Default 1099 form type and box from supplier" is selected then the 1099 form type and box number on all posted invoices will default to the supplier value when the invoice 1099 form is 'None' and the supplier has selected a 1099 form type on the supplier record.
The 1099 amount will be based on the ledger currency. If a payment has been posted in a currency that is not equal to the ledger currency, then the 1099 amount will be set to zero during the calculate function and a record will be written to the log file. The user must modify the 1099 amount prior to printing 1099 forms.
Selection criteria
| Calendar year (field THEYEAR) |
Block number 2
| Default 1099 form and box from supplier (field DEFFRMBOX) |
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If checked, the form and box from the supplier will default on the payment record, when the invoice 1099 form is none and the supplier has selected a default 1099 form type on the supplier record. This is useful when a supplier is initially not setup for 1099 tracking and invoices and payments have been processed against the supplier. |
| Log (field TRACE) |
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Select this check box to generate a log file at the end of the run. |