1099 Initialization Utility

Use the 1099 Initialization utility to clear out and store 1099 data from the previous year and start accumulating 1099 data for the new year.

You must initialize 1099 data before you start payment processing for the new year. You must initialize 1099 data whether or not you intend to produce 1099 forms.

When you initialize 1099 data, Deltek does the following on the Vendor tab of the Firms hub:

• Moves the Paid This Year amount to the Paid Last Year field. The Paid Last Year amounts serve as the basis for Form 1099 processing.
• Sets the Paid This Year amount to zero so that you can start to accumulate data for the new year.