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hello and welcome to deltek cost points accounts payable year end video for 1099 preparation by the end of this video you will know the setup requirements for vendors and vouchers in order for 1099 to be created we will discuss the vendor and voucher requirements necessary for 1099 creation we will finish with the frequently asked questions section and the closing remarks section the cye regulatory updates will be available sometime in december please note that the dates used in this video may reflect previous or future years in order to create 1099 information in cost point the vendor must first be designated as a 1099 vendor go to accounts payable vendors manage vendors turn your attention to the 1099 area in the top right corner of the screen check the print 1099 miscellaneous form check box and select a 1099 type if you want to track create and print to 99 miscellaneous information for this vendor checking this box affects the creation and printing of 1099s for this vendor it will serve as a default for the 1099 and the 1099 miscellaneous type columns on every voucher line in the accounts payable vouchers and manage purchase order voucher screens the vendor 1099 name will be used when creating the 1099 information the vendor 1099 name should be the vendor's tax id name if different from the sole proprietor and the vendor long name the vendor long name is used for printing ap checks whereas the vendor 1099 name is used for creating and printing the 1099 information cost point supports the printing of 1099 miscellaneous types specifically boxes 1 to 10 and 14. those are rents royalties other income federal income tax withheld fishing boat proceeds medical and healthcare payments substitute payments in lieu of cash non-employee compensation payer made direct sale of five thousand dollars or more crop insurance proceeds and gross proceeds paid to an attorney for a complete listing of the supportive 1099 miscellaneous types and their limits please refer to the calendar year-end guide the 1099-types drop-down list box contains 1099 types that do not print on the 1099 miscellaneous form a acquisition abandonment b broker and barter div dividends and proceeds g certain government payments int interest income oid original issue discount patr taxable distribution from co-op our retirement distributions the voucher line may be flagged with any of the 1099 types listed previously however costpoint does not support these 1099 types in a printed form also in this screen the correct tax id number for the vendor should be entered it is important to note that the payer address lines and recipient address lines print in uppercase also up to two address lines will print on the 1099. once the vendor has 1099 information entered in the manage vendor 1099 area and manage vouchers the voucher lines for the vendor will default to be checked in the 1099 column the default 1099 type will be displayed in a 1099 type column you may edit the 1099 column to not checked if that particular voucher line is not a 1099 reportable amount or you may keep the 1099 column checked and edit the 1099 type for each voucher line if desired when the voucher is paid the lines which have been designated as 1099 reportable will be used in the calculation of the 1099 payments for this vendor each 1099 miscellaneous type will be totaled for the selected calendar year january 1 through december 31 and placed in the appropriate box on the 1099 miscellaneous form when printed the 1099 miscellaneous report will total the 1099 miscellaneous types by vendor the 1099 amount is based on the check date month day year and the check amount 1099s may not be created for more than the check amount if you need to edit voucher lines on a posted voucher you may use the manage vendor history screen for this purpose for any voucher selected in this screen you may either select the 1099 column and the 1099 type will default in or deselect the 1099 column and the 1099 type will be cleared it is important to note that in order to make edits to the 1099 columns in this screen the print 1099 miscellaneous form check box and the manage vendor 1099 area must be checked keep in mind that the 1099 amounts are calculated by calendar year and are based on the check date and the check amount 1099s may not be created for more than the check amount here you will find a list of frequently asked questions please review them at your leisure simply pause the video to read through the screen and then press play to continue the video we hope they will help with your year-end closing process for 10.99 preparation however if you have any questions cost point customer care is ready to assist call our customer care number at 877-457-7765 we hope you found this video informative and helpful thank you for attending this video on dell tech cost points accounts payable year-end closing process for 1099 preparation