1099 Information

Vendor 1099 and vendor history information is calculated only if the Display 1099 flag on Reference File category 132 is set to Y (yes) for the company/location.  If the 1099 flag on category 132 is set to N, 1099 information will not be calculated for the company/location.

In a 1099 environment, MAC-PAC maintains both fiscal year-to-date and calendar year-to-date information.  The fiscal year-to-date information is maintained for financial reporting within the company.  The calendar year-to-date information is maintained for reporting to the government.  At the calendar year-end, you can report the calendar year-to-date information, roll the current calendar year-to-date amounts into the previous calendar year-to-date amounts, and begin processing for the new calendar year--without affecting the fiscal year totals.  At fiscal year-end, you can follow a similar procedure for the fiscal amounts.