QUESTION: 

Can the 1099 Amount be changed after a check has been posted?  

 

 

The 1099 Edit journal entry is available to assist with editing any check that should include a 1099 amount or that has been posted with the wrong 1099 amount. 

 

PROCESS: 

From   JE’s  > Edits > 1099 Edit

 

 

  1. Enter a Transaction Date.
    • The default is the current date, but this can be changed to reflect the actual posting date. 
    • The transaction date cannot be outside the current fiscal year. 
  2. Enter the Check Number of the check to be corrected and click the Tab key. 
  3. Enter the correct 1099 Amount for the check number entered. 
  4. Enter a Reference (description) for this entry. 
  5. Enter any Additional Comments/description for this JE not entered in the Reference field.   This information will print only on the proof sheet. 
  6. Click on the Preview button to display a proof sheet preview. 
  7. Verify all information on the Journal Entry Proof Sheet is correct. 
    • If yes – click on the Post and Generate Final Proof button to post the JE. 
    • If no – navigate to JE’s > Edits > 1099 Edit again to clear the screen and start over. 

 

When the final Journal Entry Proof Sheet displays, the JE is posted and the JE # is assigned. 

Be sure to click on the printer icon to print the JE proof sheet for your records.