You use the A/P 1099/CPRS Codes screen to add codes to assign to vendors that are subject to 1099/CPRS reporting. On the A/P Vendors screen, you must enter a 1099/CPRS code for each vendor you mark as subject to 1099/CPRS reporting.
1099/CPRS expense class codes identify different categories of 1099/CPRS payments. You specify the default 1099/CPRS code for each vendor in the vendor records, but you can specify a different code for each invoice, if necessary.
The Minimum Amount to Report that you enter for a 1099/CPRS code is used when you print 1099 forms or file 1099s electronically.
After activating a new company, you set up the 1099/CPRS codes that you need. Once this is done, you should have to add or edit codes only if the existing code structure changes.
1099/CPRS vendor amounts are accumulated by code and by period. Each time you enter an invoice, you can specify the 1099/CPRS code to which the invoice applies.
Accounts Payable prints each code amount in the appropriate box on the 1099/CPRS form. This is determined based on the form type and year that you specify when printing the form.
Note: Although 1099/CPRS codes and amounts are entered with vendor invoices, Accounts Payable accumulates the 1099/CPRS statistics each time you post payments for the vendor.
Editing 1099/CPRS Codes
You can change the description and Inactive status only. You cannot change the 1099/CPRS code.
However, assigning Inactive status does not affect the accumulation of 1099/CPRS information at posting.
Deleting 1099/CPRS Codes
Deleting codes does not remove any information from your ledger (except the code definition). However, you should not delete 1099/CPRS codes if you are required to print 1099/CPRS forms. If you accidentally delete a code, just add it again.
If you delete a 1099/CPRS code, you can no longer assign it to vendor records—nor can you update a vendor record which has that code assigned.