Required Vendor Information
Before you generate a 1099 for a vendor, review pertinent fields in the Vendor Info Center.
| Fields in the Vendor Info Center | Action |
|---|---|
| Addresses | You must specify a Primary address before you can process a 1099 for a vendor. |
| 1099 Req | Select this option to specify that this vendor needs a 1099. |
| Paid Last Year | This optional field includes the amount that you paid the vendor during the previous calendar year (the year for which you are producing the 1099).
During the previous calendar year, Vision records, in the Paid This Year field, the collected amount of all of the payments made to the vendor. When you run the 1099 Initialization Utility, Vision puts the amount from the Paid This Year field into the Paid Last Year field. You can edit this amount if necessary. If the amount in the Paid Last Year field is less than the minimum amount specified on the 1099 Processing form, no 1099 is generated for this vendor. If the Paid Last Year field is empty for this vendor, and you have not specified a minimum amount on the 1099 Processing form, Vision includes the vendor when generating a 1099 work file. You can open the 1099 in the Form 1099 editor and enter an amount. |
| Federal ID | You can enter a Taxpayer Identification Number (TIN) here or in the Form 1099 editor. The IRS does not accept 1099 forms that have no TIN. You must use one of these numbers as the vendor's TIN: |