How to correct vendor 1099s

Solution Properties

Solution ID:

221924160113186

Last Modified Date:

Fri Oct 11 13:30:14 UTC 2024

Taxonomy Path:

Category//Transactions//Tax

Author:

How to correct vendor 1099s

Description

Cause

Resolution

▼ Print a corrected 1099 - Correct an amount or remove a 1099 from a vendor

Go to AP, Vendors, 1099 Processing.
Select Open saved 1099.
Click OK.
Select the 1099 file that you wish to edit and click Edit.
Select Correct Completed 1099s.
Select the distributed forms you want to correct.
Click Continue.
NOTE: Zeroing out the dollar amount will prevent you from continuing. Instead, select the line number of the vendor that received the incorrect version of the 1099 and right-click.
This is where you make corrections.
- Adjust a vendor total: Edit the value in the grid and select the NEXT. Continue to make corrections and select NEXT through grid checks
- Remove a vendor: Right-click the desired row and select Remove Row
Click Yes to the message below.
Click Next to continue 1099 processing. NOTE: The vendor still appears in the list, but all fields are gray and uneditable.
Continue to hit Next until the Important Notice appears.
Click Agree to continue.
Review the data to print and click Next>.
Continue through the process to print the copies of the corrected 1099s and 1096.

In an archived company (or restored backup to a new ID) for the correction year, go to AP, Vendor, Maintain Vendor, Other....
Select the desired 1099 type for the 1099 MISC/NEC/INT/DIV drop down.
Click OK and Save the change.
Go to AP, Vendors, 1099 Processing.
Select Create new 1099 and select the correct 1099 Form Type for the form you wish to process.
Click OK and continue to process 1099s.

Go to AP, Vendors, 1099 Processing.
Select Open saved 1099.
Click OK.
Select the desired 1099 file that you wish to edit to add this 1099 to and click Edit.
Select Correct Completed 1099s.
Select the distributed forms you want to add to.
Click Continue.
Select any line number and right click.
Select Insert Row.
Manually enter the 1099 information for the vendor you wish to add.
Click Next to continue the 1099 processing.
Continue to hit Next until the Review Data screen appears.
Click Next.
Continue through the process to print the copies of the 1099s and 1096.

Consult a CPA for specific tax advice on correcting 1099s.

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