In the following example, a voucher was created with one voucher line totaling 34,930.00. The entire amount was checked as withholding applicable. A review resulted in the need to adjust (decrease) the 1099 reporting amount by (4,930.00). Navigation: Main Menu > Suppliers > 1099/Global Withholding > Maintain > Adjust Withholding Supplier SetID: Defaults to “SHARE”. Supplier ID: Enter/lookup and click Search. “xxxxxxxxxx” Search Results: Click on the appropriate line. If only one active location exists, the Withhold Adjustments page will open on that location. On the Withhold Adjustments page, enter search criteria (see the following screenshot): Business Unit: Enter “xxxxx”. Enter the calendar year begin date Start Date: “1-1-YYYY”. End Date: Enter the calendar year end date “12-31-YYYY”. Click Search. The section will populate with the supplier’s retrieved voucher information. Adjustments Do not delete any rows. Add a row(s) for the adjustment amount by clicking “+”. Main Information tab: Short Name: (original transaction entry) or (a newly added row) “Original” “Legacy” Business Unit: Will display your BU Entity: Will always be “IRS”. Type: Will normally always be (you may also see 1099I if those type of transactions exist). “1099” Jurisdiction: Will always be “FED”. Displays the reporting class that the transaction is associated with. Class: Rule: Will always be “RULE0”. Transaction info tab: Basis Amt: Enter the adjusting amount. Liability Amt: Should always be 0. Paid Amount: Should always be 0. Payment Date: Date must be in the same Tax Year. Declaration Date: Defaults to what you enter as the Payment Date. Payment Information tab No edits – Adjustment Reason tab:
In the following example, a voucher was created with one voucher line totaling 34,930.00. The entire amount was checked as withholding applicable. A review resulted in the need to adjust (decrease) the 1099 reporting amount by (4,930.00). Navigation: Main Menu > Suppliers > 1099/Global Withholding > Maintain > Adjust Withholding Supplier SetID: Defaults to “SHARE”. Supplier ID: Enter/lookup “xxxxxxxxxx” and click Search. Search Results: Click on the appropriate line. If only one active location exists, the Withhold Adjustments page will open on that location. On the Withhold Adjustments page, enter search criteria (see the following screenshot): Business Unit: Enter “xxxxx”. Start Date: Enter the calendar year begin date “1-1-YYYY”. End Date: Enter the calendar year end date “12-31-YYYY”. Click Search. The Adjustments section will populate with the supplier’s retrieved voucher information. Do not delete any rows. Add a row(s) for the adjustment amount by clicking “+”. Main Information tab: Short Name: “Original” (original transaction entry) or “Legacy” (a newly added row) Business Unit: Will display your BU Entity: Will always be “IRS”. Type: Will normally always be “1099” (you may also see 1099I if those type of transactions exist). Jurisdiction: Will always be “FED”. Class: Displays the reporting class that the transaction is associated with. Rule: Will always be “RULE0”. Transaction info tab: Basis Amt: Enter the adjusting amount. Liability Amt: Should always be 0. Paid Amount: Should always be 0. Payment Date: Date must be in the same Tax Year. Declaration Date: Defaults to what you enter as the Payment Date. Payment Information tab – No edits Adjustment Reason tab: