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general:1099_create_1099_object_codes_table
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Finance > Tables > 1099 Object Codes
In file ID C, review all of the object codes that were used when paying 1099-eligible vendors. You can add and/or delete object codes as needed. Generally, 62XX accounts are included.
Notes:
- If the table is not populated with object codes and type payments, all transactions (regardless of object code) for each 1099-eligible vendor are extracted when the Create 1099 Work Table utility is processed. The table must be completed prior to printing the 1099-MISC forms.
- 1099-MISC forms will print the sum of all transactions (if at least $600) in the 1099 work file except those with a Type Payment of N - Non-employee compensation.
- 1099-NEC forms will print the sum of all transactions minus credit card transactions (if at least $600) in the 1099 work file with a Type Payment of N - Non-employee compensation.
Log on to the prior year file ID.
Ensure that the prior and current year file ID object code tables have the same object codes since the amounts spent from January 1 - August 31 exist in the prior year file ID.
general/1099_create_1099_object_codes_table.1604435571.txt.gz · Last modified: 2020/11/03 15:32 (external edit)