Core Financial Modules

[JacquieP]

I have been using Sage for years now and I now have a process that I cannot figure out how to properly process.

We have the following scenario

AP Vendor

Credit amount $100.00 ( they owe us )

Now they sent us the payment

How do you process the payment received to a credit memo on an account payable vendor.

This credit amount shall impact the value indicated on the 1099 for the year - which I know I can manually update, however I prefer to have the system fix that area if it does.

Has anyone processed an issue like this?

[DFeller]

If you process a cash receipt in A/R you can use CASH as the customer and use 0.00 on the header then on the lines apply it to a G/L account.  Then on the A/P side you can offset the credit against this same G/L account.

Dawn

[JacquieP]

Thank you very much. Do you foresee any issues with the reported amount on the 1099 form? Or should this simple be adjusted?

[thebottomline]

I would think that if you wash the two AP items (net to zero) with a manual check totaling zero that your reportable 1099 payments would decrease.  Try it.  You may have to void the original check and then reissue for the correct amount.  Or if that doesn't work, manually adjust the 1099 amount in vendor maintenance.