Overview:
The threshold for which a 1099 should be prepared and issued is controlled in the System Configuration. Anything less than or equal to the threshold will not have a 1099 prepared. For example, if the IRS requires a 1099 for vendors receiving greater than or equal to $600, then a threshold of 599.99 can be entered.
Benefits:
- Ability to control and set the threshold, so if the policy is all vendors receive a 1099, a zero can be entered
Roles:
- Controller
Additional Content
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- System Management > System Rules > System Configuration
Video:
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