Use the information from the Payments Made to 1099 Vendors report to manually enter or adjust the payments made to each 1099 vendor within the “Numbers Refer to the 1099-MISC Form Boxes” section within the Vendor 1099 Information screen.
|Important: You should not process your 1099 data until you have closed the accounts payable for December (or the 12th month if on a fiscal year).|
Step 1. From the Dealership Accounting main menu, select Trade Payables. The Trade Vendor Payables menu will open.
Step 2. Select 1099 Information to open the Vendor 1099's menu.
Step 3. Click Edit 1099 Vendor Information. The Vendor 1099 Information screen will open.
Step 4. Click Vendor List to open the Search Vendors screen, where you can search vendors by first letter of the vendor name. Click the appropriate alphabetical tab on the right side of the screen and scroll to find the vendor.
Step 5. Click on the vendor to populate the Vendor 1099 Information screen with their data.
Step 6. Tally and enter any manually entered payments in the “Numbers Refer to the 1099-MISC Form Boxes” section of the screen. You will most likely use box 7 to enter this figure.
For New Autosoft Customers
Important: Please review any vendors that may have manually entered payments that were entered during inception. These payments are not listed as a part of the Payments Made to 1099 Vendors Report totals. You must add the manually entered payments from inception to the total found on the Payments Made to 1099 Vendors Report.
Step 7. Make any other necessary changes.
Step 8. Click Save to save the changes. The 1099 vendor will appear in the list on the right side of the screen.
Step 9. Repeat this process for all necessary 1099 vendors.