Associate 1099 default value to Main account

Important

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Users by admins, makers, or analysts - Nov 6, 2020

Business value

Some vendors receive payments that must be reported on 1099 statements, in addition to receiving payments that don't have the same requirement. Also, some invoice lines might be reported in different 1099 boxes than are specified by default for the vendor. Associating a 1099 box number with a main account can help ensure that 1099 reporting remains consistent, and in compliance with reporting requirements.

Feature details

To set up main accounts for 1099 reporting, go to Accounts payable > Periodic tasks > Tax 1099 > 1099 field.

See also

Set up vendors for 1099 reporting (docs)