Changes in Supplier set-up for 2021

posted Jan 7, 2021, 12:57 PM by Barbara Thiss
With the new IRS regulations for Independent Contractors, we have had to make some changes in the Supplier set up to allow for New Employee Compensation 1099s. These instructions are for any Supplier starting after 01/01/2021.

***For the 2020 Suppliers, we have already run a SQL to update Suppliers to add a row and update the “Type” field to either “1099M” or “1099N” (and Default Jurisdiction, if needed).

1. Default Jurisdiction box on 1099 Information screen needs to be checked for new Suppliers created in 2021.

    Withholding Supplier page

2. “Type” field must be either 1099M or 1099N depending on Supplier. New Suppliers entered in 2021 will need Type field to either be 1099M or 1099N and               Default Jurisdiction box checked for one of the rows present. If only one row is present, the box still needs to be checked.

3.  Select the proper Default Class. Default Class 07 is no longer available. Non-Employee Compensation type Suppliers will need to be 1099N types with a Default Class of 01.

    1099 Information input page

If you have any questions, please submit a Service Portal Ticket.