Update vendor 1099 amounts

Your 1099 vendor amount might need to be updated if:

  • You forgot to flag one or more associated transactions for 1099 treatment.

    You can either update the 1099 total manually, or reclassify the transactions to flag them for 1099 treatment.

  • You have vendor transactions outside of Intacct that need to be accounted for in the 1099 total.

    You can either update the 1099 total manually, or import the transactions into Sage Intacct.

Update the 1099 vendor amounts manually

Update amounts for multiple vendors with an import file

Vendor 1099 transaction updates made using CSV import operate outside of the vendor approval process. This means that if you have vendor approval enabled and you import a Vendor 1099 transaction update file, the following changes are made, regardless of the vendor state:
  • Transactions are updated as your import file specified.
  • The vendor is updated with any new 1099 details your import file specifies and the vendor is not submitted for approval.
  1. Go to Company > Setup > Import data.
  2. Under Set up AP master list, locate Vendor 1099 transaction update, and select Template.

    A formatted .csv file appears.

  3. Add the transaction information to the template, and import the file.
  4. Generate the 1099 report to verify that the amounts are now correct.

Reclassify transactions to update amounts

Instead of manually updating the vendor total, you can go back and reclassify a transaction to be included or excluded in 1099 amounts. Some transactions cannot be reclassified, such as in Global Consolidation.

Need more help?

We offer training and a step-by-step guide to help you through the 1099 process. If you have questions or encounter specific issues, be sure to check out our troubleshooting topic.