Page tree

Versions Compared

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

...

  •  

    1.  Verify 1099 information for vendors. 

    Code Block
    MENU>VENSSN
      • Make sure to check that all vendors flagged to receive 1099's are ACCURATE (vendor name, address, 1099 type is valid/legal, and social security or tax ID number). Use the following options:
        •  VENSSN/Option 6: 1099-MISC Vendors Only (Regardless of YTD Activity)
        •  VENSSN/Option 4: 1099-MISC Vendors and YTD Activity meeting IRS requirement
      • In Order to check for Vendors that have not been flagged, use the following option:
        •  

          VENSSN/Option 5: NOT 1099-MISC Vendors and YTD Activity > $599.99

    Tip

    If the vendor uses a different name for 1099 reporting, enter the 1099 reportable name on the 2nd name field on the vendor record. Enter the digits 1099:followed by the IRS 1099 name.


    Info
    titleOptional IRS Verification

    Requires an IRS e-services account

    • IRS Interactive TIN/Name matching program. You may enter up to 25 TIN/Name Combinations and get immediate results
    • IRS Bulk TIN/Name matching program. You enter a file with TIN/Name Combinations and submit to IRS. You will receive a file with results within 24 hours.
      • Run the TINMATCH program to assist with generating a file to submit to the IRS Bulk TIN/Name Matching programprogram Image Added


  •  

    2. Verify the TIN type is entered and correct on the "SSN/EIN" field on the vendor record in VENSCN.

    •  

      Run the F1099 program saying NO to create the tape submission file and review the F1099 report for TIN Type errors. 

      Code Block
      MENU>F1099


      Tip

      Errors are listed UNDER the vendor.


...