Updating 1099 Information – Microsoft Dynamics Great Plains (GP) Year End Procedures

Updating 1099 Information – Microsoft Dynamics Great Plains (GP) Year End Procedures

Changing the vendor 1099 tax type and/or 1099 data in Microsoft Dynamics GP (Great Plains) before printing the 1099 this year will not update 1099 amounts for vendors – either to add as a 1099 vendor or remove as a 1099 vendor.


You have two options to update the amounts.


Option 1 – Use the 1099 Utility to update 1099 tax types and amounts for a specific vendor(s):

    1. Click Microsoft Dynamics GP >> Tools >> Utilities >> Purchasing >> Update 1099 Information to open the Update 1099 Information window.
    2. Mark the radio button next to ‘Vendor and 1099 Transactions’.
    3. In the ‘From’ restriction on the left-hand side:
      • Tax Type = the tax type you want to change/update
      • 1099 Box Number = the box number you want to change/update
    4. In the ‘To’ restriction on the left-hand side:
      • Tax Type = the tax type you want the vendor data to reflect
      • 1099 Box Number = the box number you want the vendor data to reflect
    5. In the Range restriction: Be sure to enter a restriction here. You can restrict on Vendor ID, Vendor Name, and/or Vendor Class, and then click the Insert button to insert the restriction. IF you do not enter a restriction here, GP will try to update all vendors – so it’s important to restrict appropriately!
    6. Once you’ve verified your settings/restrictions are accurate click on the Process button to process the changes. A report will print where you can review the information that has changed.




Option 2 – Use the Edit 1099 Transaction Information window

To modify specific 1099 tax types and boxes associated with specific transactions:

    1. Click on Transactions >> Purchasing >> Edit 1099 Information to open the Edit 1099 Transaction Information window.
    2. Enter an appropriate Vendor ID.
    3. Restrict by voucher number if desired.
    4. You can view 1099 Debit Transactions, Add Debit Transactions, or All Credit Transactions. Note: Each time you make a change to the data you’d like to view, be sure to click the ‘Redisplay’ icon at the top of the window! 
    5. Use this window to change the Tax Type, the Box Number, and/or the 1099 Amount for a specific transaction.
    6. Once you’ve made appropriate changes click on the ‘Process’ button at the top of the window to process the changes.



If the amounts are still not showing correctly on the 1099 Edit List, go to Purchasing, Utilities, Reconcile:

    1. Select All Vendors or a range of Vendors
    2. Select Calendar Year,
    3. and either All Amounts or Only 1099 Amounts.
    4. Click Process




If you need additional assistance, then get in touch with our support team!

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

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Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.