We did a mid-year Acumatica implementation. How do I load the vendor payments by branch for 1099 reporting purposes? Our branches have different EIN#s.
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Hello
Here is an idea: Use migration mode to adjust vendor year to date payment figures. I recommend testing one or two vendors in your test environment before repeating the process in your live tenant.
- For each 1099 vendor, determine how much they were paid year-to-date for each 1099 box, before cutting over to your new Acumatica system.
- Sign other users out of AP.
- Turn on migration mode in AP Preferences.
- Enter an AP Bill for each vendor, with the prior system’s amount for each 1099 box on a separate line. Remember to populate the 1099 box on each line of this Acumatica Bill.
- In the bill header area, you will see a Balance field that appears only when migration mode is on. Fill in $0 for the balance (unpaid amount) of these migrated 1099 bills.
- Release the 1099 bills.
- Turn migration mode off.
- Print the 1099s.
Laura
Has this been confirmed to work? I’ve always thought the payment is what triggered the 1099 amounts?
Good day,
I am in the process of assisting client with entering information for calendar year to date 1099 information.
The following steps work:
- AP Preference - turn on the migration mode.
- Enter AP Cash Purchase (previously known as quick check)
- Release the Cash Purchase
- Review 1099 Vendor History. The migrated amount should be in the proper 1099 box based on the vendor setup.
- Cash Purchase can also be imported via import scenario in migration mode.
1099 Migration Template and Import Scenario for Cash Purchases.
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