Verify 1099 Payments

Use the Form 1099 Verification report to identify any discrepancies in your 1099 data. You usually generate this report after you generate a 1099 work file and before you print 1099 forms for vendors.

To verify 1099 payments, complete the following steps:

1. From the Vision Navigation menu, click Accounting > Accounts Payable > Form 1099 Processing.
2. On the toolbar of the Form 1099 Processing form, click Verify Payments.
3. On the Form 1099 Verification dialog box, specify the following information:

   Option	Description
   Year	Select the calendar year for which to compare actual payments to vendors to the Paid Last Year amounts.
   Sort by	Sort the report data by Vendor Number or Vendor Name.

4. Click Preview to generate the Form 1099 Verification report.
5. To print the report, click the Printer icon in the previewed report.
6. If the report lists no differences, the 1099s are ready to process. The Total Payments Processed amount and the Paid Last Year amount on the Form 1099 Verification report exclude any amount paid to vendors by credit card in AP Disbursement Transaction Entry. This follows the federal requirement that a company is not responsible for reporting amounts paid by credit card.
7. If the report lists a difference between the Total Payments Processed amount (posted payments) and the Paid Last Year amount, print the Voucher Ledger report for the vendors with discrepancies.
   1. From the Vision Navigation menu, click Reporting > Vendors.
   2. On the Vendor Reporting form, click in the Options field for the Vendor Ledger report.
   3. On the General tab of the Vendor Ledger Options dialog box, select the Period option in the Time Frame section, select Year-to-date in the Period drop-down list, and clear the Credit Card check box in the Payment Method section to exclude credit card payments.
   4. On the Sorting/Grouping tab, select 1099 Required.
   5. On the Voucher Ledger Options dialog box, click Apply.
   6. On the Vendor Reporting form, click the Selection field for the Voucher Ledger report, and click the lookup icon in the field.
   7. On the Vendor lookup, select the vendors who had discrepancies on the Form 1099 Verification report.
   8. Generate the Voucher Ledger report.
8. Determine which amount is correct for a vendor—the posted payment amounts on the Voucher Ledger report or the amounts in the Paid Last Year field in the Vendor Info Center.
9. To correct the 1099 amount for a vendor, complete one of the following actions:
   • Modify the amount in the Form 1099 work file with the Form 1099 Editor.
   • Modify the amounts in the Paid Last Year field on the Accounting tab of the Vendor Info Center and regenerate the Form 1099 work file.