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How do I verify whether my 1099 year is correct in Accounts Payable?

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Summary

How to verify if the 1099 year is correct in Accounts Payable.

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IMPORTANT: Close your 1099 year in Accounts Payable every year-end to keep it up to date. See How do I close the year or the 1099 year in Accounts Payable?

You can verify your current 1099 year as follows:

  1. In Accounts Payable, from the File menu, select Company Settings, AP Settings.
  2. Make a note of the date in the 1099 year ending date box.
  3. Click Cancel.
  • If your 1099 year ending date is two years in the past or less, follow the steps in Option 1.
  • If your 1099 year ending date is beyond one year in the future or is more than two years in the past, follow the steps in Option 2 to correct your 1099 year.

Option 1: The 1099 year is two years in the past or less

  1. Close the 1099 year once or twice as necessary to bring it up to date. See How do I close the year or the 1099 year in Accounts Payable?
  2. If you printed checks or generated/recorded payments with a date two or more years after what the 1099 year ending date was, correct the 1099 totals. See How do I use the Accounts Payable Recalculate 1099 Totals tool to correct 1099 amounts?
  3. If you have not printed checks or generated/recorded payments with a date two or more years after what the 1099 year ending date was, no further action is necessary.

Option 2: The 1099 year is more than one year in the future or it is more than two years in the past

  1. Turn on Audit setup activity. See How do I use Audit setup activity?
  2. From the File menu, select Company Settings, AP Settings.
  3. If prompted, click Start to print your audit journal to a file or printer.
  4. Manually type the correct calendar year-end date in the 1099 year ending date box.
  5. Click OK.
  6. Turn off Audit setup activity.


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