Users who switched to NetSuite in the middle of a taxable year may have processed payments to 1099 vendors using other accounting software. These payments are normally taken up only as journal entries when information is imported to NetSuite.
To ensure that a Form 1099-MISC is generated in NetSuite visit the article Using Vendor Records for 1099 Contractors before making payments to Vendors via check or bill payments.
Below are the steps to generate a Form 1099-MISC for a vendor with no transactions processed through checks or bill payments.
1. Write a check payable to the Vendor for $0.01:
a. Navigate to Transactions> Bank> Write Checks
b. Select the Vendor as the Payee
c. Set the preferred transactions Date under the Date field
d. Fill out Memo field
e. Click on Expenses & Items tab> Expenses tab
f. Select the Expense Account mapped for 1099-MISC and put the amount of $0.01
g. Save the transaction
2. Print the Form 1099-MISC Report:
a. Navigate to Reports > Sales Tax US > Form 1099-MISC
b. Preview the vendor's Form 1099-MISC report
c. Correct the amounts reported on the corresponding boxes
d. Save and Print the report
3. Once the Form 1099-MISC is printed, reverse the GL impact of the Check processed for $0.01:
a. Navigate to Transactions> Financial> Make Journal Entries
b. Use the same Date used in writing the Check
c. Debit the Bank Account and Credit the Expense Account used in writing the Check
d. Save the record
Note: Ability to include 1099 eligible vendors with no transactions in the Form 1099-MISC Reporting is tracked per Enhancement 175355.
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