For any salesperson or vendor who has a 1099 Category within their resource record, a new 1099 column will be displayed at the end of the Payment column in Bills-Pay.
A button will be displayed for each invoice/commission listed under the 1099 Column.
A button will be displayed for each invoice/commission listed under the 1099 Column.
When a Payment exists, that amount will automatically populate the 1099 Amount Paid field within the 1099 amount window. If the 1099 amount to be reported on the 1099 is the same as the Payment amount, there is no need to click the Yes button to open the 1099 Amounts window. Upon clicking Process, the 1099 amount will be updated to the Bill-Pay transactions for the amount of the payment.
However, if the 1099 amount should be different than the Payment amount, or you need to record any Federal or State tax withholding, you will want to click on the 1099 button and enter/change those amounts.
The Yes button will remain inactive and contain no amounts until there is an amount less than or equal to $0.00 in the Payment column. Place a checkmark in the Pay column to select the Payment, or the Payment amount can be entered manually.
However, if the 1099 amount should be different than the Payment amount, or you need to record any Federal or State tax withholding, you will want to click on the 1099 button and enter/change those amounts.
The Yes button will remain inactive and contain no amounts until there is an amount less than or equal to $0.00 in the Payment column. Place a checkmark in the Pay column to select the Payment, or the Payment amount can be entered manually.
Once a payment has been entered, the button in the 1099 column defaults to Yes. Select Yes, IF the detail for the payment or the taxes needs to be edited. The amount to be reported on the 1099 defaults to the amount entered under the Payment column.
After selecting Yes, the 1099 Amounts detail opens. The total payment defaults on the 1099 Amount Paid line. Edit the amount of the 1099 Amount Paid, when necessary.
After selecting Yes, the 1099 Amounts detail opens. The total payment defaults on the 1099 Amount Paid line. Edit the amount of the 1099 Amount Paid, when necessary.
Federal and State Withholding Tax can be entered. Click OK after entering the detail for each Payment
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