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MEM 1099 Adjustment

Use this page to view or change a vendor’s calculated 1099 transaction amounts for a period or calendar year. This page is useful if you plan to make another payment after you print and deliver the 1099 statements.

You can access this page as follows: 

  1. Open the Dimensions page.
  2. Select the global dimension that is set up as the Entity Dimension and select Dimension > Dimension Values.

    3. The entity dimension is set up on the Multi-Entity Management Setuppage is already setup.

  3. Select a dimension value, and select Actions > Functions > MEM Entity Setup.
  4. Select the 1099 Form Box button, which options the MEM 1099 Form Boxes page.
  5. In the Adjustment Exist column for the line you want, select the number.

Note icon. Note: When making adjustments, this MEM 1099 Adjustment page must be used. Making adjustments to the standard Microsoft Dynamics 365 Business Central 1099 Adjustment page does not affect the entity 1099 form box totals.

Adjust 1099 Form Box Amount

To make adjustments to the 1099 form box amount, follow these steps: 

  1. From the MEM 1099 Form Boxes page for the code of the 1099 form box, view the Adjustment Exist column, and select the adjustment number.
  2. To add the adjustment on the MEM 1099 Adjustment page, select New.
  3. Select the Vendor No and specify the Year.
    Only one adjustment line is allowed for each vendor and year combination. For example, Vendor 1 can have only one adjustment line for the year 2001.
  4. Specify the Adjustment.
    The Total 1099 Amount is automatically updated.
  5. Close the MEM 1099 Adjustment page.
  6. Back on the MEM 1099 Form Boxes page, select Process > Update Form Boxes.

    7. The Adjustment Exists value for the line you adjusted is incremented with the number of changes made.

The adjustments made on this page are reflected on the following pages and reports: 

  • MEM 1099 Dividend
  • MEM 1099 Miscellaneous
  • MEM 1099 Interest
  • MEM 1099 Dividend by Entity
  • MEM 1099 Miscellaneous by Entity
  • MEM 1099 Interest by Entity
  • MEM Vendor 1099 Information
  • MEM Vendor 1099 Information by Entity
  • MEM Vendor 1099 NEC
  • MEM Vendor 1099 NEC by Entity

Fields

This page contains the following fields: 

Field Description
Vendor No

Select the vendor number to which the adjustment is applied.

Year Specify the year for which the adjustment is to be applied.
Adjustment Specify the adjustment amount to for the code of the 1099 form box. This value can be positive or negative.
Calculated Amount Displays the calculated amount for the reporting year. Read-only.
Total 1099 Amount

Displays the updated total 1099 amount after the adjustment: Calculated Amount + Adjustment.