Use the 1099 Beginning Balance function to set the 1099 beginning balances by year, company, supplier, form, and box.

Prerequisites

See also Refer to documentation Implementation

Screen management

Entry screen

Use this function to enter supplier beginning balances.  This is useful for a company that initially implements in the middle of a calendar year. This allows you to calculate accurate 1099 balances by entering a single balance for each year, company, supplier, form and box, instead of having to process prior invoices and payments for each supplier.

The 1099 forms function includes this beginning balance when it generates 1099s. At year end, the beginning balance amount and the amounts entered throughout the year are combined to determine the amount to report on the 1099.

You can enter a beginning balance in two ways:

  • Enter the data manually in the grid.
  • Import a file to create 1099 balances. The data from a successful import populates the grid.

Block number 1

Calendar year (field YR1099)
Company (field CPY)

This is the code of the assignment company of the entity.
This optional zone makes it possible to specify entities common to several companies.
Supplier (field BPSNUM)

Enter the supplier at the origin of the receipt. The selection lists specific to the intersite and intercompany orders and deliveries available for receipt are filered to those related to the entered supplier.

From the Selection icon, you can:

  • select a supplier from the list of active suppliers.
  • access, based on your authorizations, the supplier record, and create a new supplier if necessary.
Currency (field CUR)

Grid Details

1099 form (field FRM1099)

The 1099 form type indicates that a supplier is reportable to the Internal Revenue Service for payments made. Possible valid values are: None. Misc, Dividend or Interest. This value defaults from the supplier to the invoice, but can be changed.
1099 box (field BOX1099)

Default box number with respect to which payments must be printed on the 1099 record. Box numbers vary according the 1099 record at use. This value defaults from the supplier to the invoice, but can be changed. Inactive 1099 boxes are not available for selection.
Beginning balance (field BEGBAL)

The 1099 beginning balance amount for this supplier.

Error messages

The only error messages are the generic ones.

Tables used

See also Refer to documentation Implementation