Additional Considerations:

• Beginning balances, changes, or corrections made to Boxes 2a-2d on the 1099 Dividend form do not automatically recalculate Box 2a. If needed, you must manually adjust Total capital gain distribution (Box 2a) with any 28% rate gain (Box 2b), Unrecap. sec. 1250 gain (Box 2c) and section 1202 gain (Box 2d).
• Corrections made to Box 5 on the 1099 Dividend form do not automatically recalculate in Box 1. If needed, you must manually adjust the Ordinary dividends (Box 1) with the Investment expenses (Box 5).
• Obsolete 1099 boxes are not available for selection.

1. Expand Accounts Payable and Activities. Double-click Edit 1099 Data
2. Select one of the following options:
• Edit Voucher 1099 Data
• Use this task to change a vendor's 1099 information prior to submitting the 1099 form. You can rapidly make changes to several vouchers for a vendor. You can change the 1099 form, 1099 box and related box text (if necessary), and the 1099 amount in the grid of the Edit Payment Application 1099 Data, if a payment is posted.
1. To adjust individual payments:
1. Select the vendor
2. Select an invoice that has been paid from the grid
3. Click the Payments button
4. In the 1099 Amount field, enter the amount you would like to reflect
• After a 1099 has been submitted, you can no longer make changes to the 1099 unless the 1099 record is first unsubmitted using the 1099 Forms window.
• IRS 1099 Corrections
• Note: "Any corrections made are not reversible. Only use this task when corrections have bee requested by the IRS."
  Use this task to change previously entered 1099 information after it has been submitted and corrections have been requested by the IRS. This task should be used to enter and flag IRS requested corrections to 1099 forms such as amounts and incorrect address information.
1. Expand Accounts Payable, Activities, and Edit 1099 Data. Double-click 1099 Corrections.
2. Select a vendor ID, and the default information displays.
3. Select a Correction Code that describes the reason for your change.
4. Change the applicable information.
• Some types of corrections requested by the IRS require submission of both the original (incorrect) 1099 form and the corrected 1099 form.
• After you correct the 1099 information, you can then re-submit the corrected 1099 forms and the original 1099 forms if required. The transaction types that need both the original and corrected copies of the 1099 forms are printed together automatically during the printing process. Currently only the following transaction types require both copies:
• No Payee TIN
• Incorrect Payee TIN
• Incorrect Payee Name
• Wrong Type of Return Indicator
• 1099 Beginning Balances
• Use 1099 Beginning Balances to set the 1099 beginning balances by vendor, year, form, and box. This task is particularly useful for a company that initially implements Sage ERP MAS 500 in the middle of a calendar year. This task allows you to calculate accurate 1099 balances by entering a single balance for each vendor, year, form and box, instead of having to process prior vouchers and payment applications for each vendor.

• The 1099 form printing and electronic filing process 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.  NOTE:You cannot reverse this import process using AP Reverse Import. To delete imported 1099 beginning balance records, you must manually delete the records from the grid.