I work for a mid size logistics brokerage. A large portion of our business involves outsourcing freight from owner/operators. We use a handful of GL accounts to keep certain charges due to these haulers separate. However, most of these are all 1099 NEC expenses.
How do I set up 1099 defaults so that a bill generated for any of these GL accounts auto-populate the same 1099 box without updating each vendor or each bill individually?
Best answer by vkumar
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I tried to manage this by making sure all vendors had 1099 boxes declared. The below issue still exists:
This means for 1099 reports to work, all bill line items (freight, fuel service charges, service fees, etc.) must be routed to a single GL expense account which is listed in the Accounts Payable Preferences > 1099 settings tab. Furthermore, misc service expenses like cleaning service, software design, equipment repairs etc must all be routed to the lone GL expense account which is designated as the 1099 NEC account.
Am I missing something?
Hi
I don't see an out of the option available to configure more than one GL account to one 1099 box on AP Preferences screen >1099 settings tab. You may post this as a request on our ideas page of community portal (https://community.acumatica.com/ideas).
Only option here to auto select the ‘1099 box’ on AP document per vendor would be select the 1099 box at Vendor level.
The GL account based 1099 box selection takes precedence over Vendor 1099 box. Since there is no option available to tag multiple GL accounts to single 1099 box, you may have to set the default 1099 box at vendor level. If a vendor provides more than one type of service ( that qualifies to be different 1099 box ), then 1099 box may have to be manually filled at AP bill stage.
Hope this clarifies.
Regards,
Hi
Thank you for the prompt reply.
That helps me to clarify my starting point.
Best,
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