(USA) Vendor settlement for 1099s (form)

  • Article

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

Click Accounts payable > Common > Vendors > All vendors. Select a vendor account, and then click Tax information > Vendor settlement for 1099's.

–or–

Click Accounts payable > Periodic > Vendor settlement for 1099s.

–or–

Click Procurement and sourcing > Common > Vendors > All vendors. Select a vendor account, and then click Tax information > Vendor settlement for 1099's.

Use this form to view the 1099 amounts that apply to your vendors, prepare 1099 statements, print copies for vendors, and create export files. The person or organization designated as the 1099 transmitter can send the 1099 statements to the IRS by using magnetic media or by filing them electronically.

Note

We recommend that you review IRS rule changes for the applicable tax year before you set up and process 1099 statements.

You can limit the date and vendor information that you want to display. When you try to create an export file, the data is validated, and then errors and omissions are listed. If the data complies with IRS standards, an IRSTAX export file is created and saved in the folder that you specify.

Note

(USA) This form is available only to legal entities whose primary address is in the United States.

The following tables provide descriptions for the controls in this form.

Tabs

Tab

Description

Overview tab

View the 1099 amounts by vendor account, 1099 box code on the 1099 statement, and date.

General tab

View the information for the selected vendor account and 1099 box combination.

Buttons

Buttons

Description

Vendor 1099 transactions

Open the Tax 1099 transactions form, where you can view the transactions that contribute to the total 1099 amount for the selected vendor and the 1099 box.

Manual 1099 transactions

Open the Tax 1099 transactions form, where you can view and create 1099 transactions that are not associated with an invoice.

Create export file

Open the IRS 1099 electronic options form, where you can create an electronic or magnetic export file to be submitted to the IRS. This button is available only if you have accessed the form by using Accounts payable > Periodic > Vendor settlement for 1099s.

Note

If you have not specified the information that is required for a 1099 statement, the Tax 1099 validation errors form is displayed when you click Create export file. This form lists the missing information. You must enter the required information to create the export file.

Print

Open the Tax 1099 print options form, where you can select the information to print on a blank 1099 tax form in your printer.

Fields

Field

Description

From date

Enter the starting date of the 1099 transactions that you want to view.

To date

Enter the ending date of the 1099 transactions that you want to view.

From vendor

Select the starting vendor account in the range of vendor accounts to view the 1099 transactions.

To vendor

Select the ending vendor account in the range of vendor accounts to view the 1099 transactions.

Vendor account

The vendor's account number.

Date

The date that the transaction occurred.

1099 box

The box code on the 1099 statement where the total amount is displayed.

Settled federal 1099

The 1099 settlement amount for the vendor.

IRS reportable

This check box indicates whether the amount meets the minimum requirement and must be reported to the IRS.

Note

If your organization is in the public sector and uses the 1099-S form, an S-2 amount can be less than the minimum requirement and still have to be reported to the IRS. For example, the S-2 amount can be zero, and if the S-4 transfer or received property or services check box is selected, the IRS reportable check box is selected.

Voucher

The voucher number in the ledger.

Invoice

The invoice identification.

Lot ID

The item lot identification.

Internal invoice

The internal identification of the invoice.

State

The state where the transaction occurred.

Settled state 1099

The amount that has been paid to the state for 1099 purposes.

See also

(USA) About year-end 1099 reporting

(USA) Tax 1099 transactions (form)

(USA) Tax 1099 validation errors (form)

Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).