Summary
How to verify if the 1099 year is correct in Accounts Payable.
Description
Cause
Resolution
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:
- In Accounts Payable, from the File menu, select Company Settings, AP Settings.
- Make a note of the date in the 1099 year ending date box.
- 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
- 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?
- 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?
- 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
- Turn on Audit setup activity. See How do I use Audit setup activity?
- From the File menu, select Company Settings, AP Settings.
- If prompted, click Start to print your audit journal to a file or printer.
- Manually type the correct calendar year-end date in the 1099 year ending date box.
- Click OK.
- Correct your 1099 totals. See How do I use the Accounts Payable Recalculate 1099 Totals tool to correct 1099 amounts?
- Turn off Audit setup activity.