AP Invoice - Edit 1099 Amount During Data Entry
Did you know that sometimes the work done by a 1099 eligible vendor is not always subject to 1099 rules? It all comes down to the type of work/service they are rendering on that specific invoice.
Luckily, GP has a way for you to change both the 1099 amount and the 1099 designation on a specific invoice while you're doing the data entry!
On the Payables Transaction Entry window, there is a field for 1099 amount that automatically populates when you create an invoice for a 1099 eligible vendor (based on the vendor card set up).
To change the amount of the invoice that is eligible for 1099, simply change the number entered here to the appropriate amount (reduce only - cannot increase beyond the value of the invoice).
Now what if it is 1099 eligible but under a different box? A great example is an attorney where sometimes the payments may be nonemployee compensation (on the new 1099 NEC form) or it may be reportable as attorney proceeds on the 1099 MISC form. Good news - GP has an answer for that too.
Click the blue arrow to the right of the "1099 Amount" field. Here you can change the 1099 type and box number for this one specific invoice. When finished with that change, click "OK" to return to your normal AP entry process.
Check back soon for how to change an individual invoice's 1099 amount AFTER you hit post (and even after you pay it!).