Open Forum

Our AP department posted 2021 batches before closing the year. How does that affect the Payables subledger and GL year end close? Will manual 1099s be required for any contract vendors? Is there a way this can be undone?

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TRACEY Stewart - Powell
Riverchase Dermatology and Cosmetic Surgery
Fort Myers FL
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The Year-End Close for AP does not affect the GL or the amounts on the 1099's printed from GP. It does however affect the amounts that show in YTD and LYR in SmartList for Vendors. That is because YTD fields show "Amount Since Last Close" in SmartList.

I wrote a blog post about processing 1099's this year...here is a link: https://trainingbyamberbell.com/2020/12/29/training-dynamos-survival-guide-for-microsoft-dynamics-gp-and-the-new-1099-nec-form/

Let me know if this helps!

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Amber Bell
Training Dynamo LLC
Email: amber@trainingdynamo.com
Website: www.trainingdynamo.com
Twitter: @trainingdynamo
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Original Message:
Sent: Jan 05, 2021 05:19 PM
From: TRACEY Stewart - Powell
Subject: Payables Year End Close

Our AP department posted 2021 batches before closing the year. How does that affect the Payables subledger and GL year end close? Will manual 1099s be required for any contract vendors? Is there a way this can be undone?

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TRACEY Stewart - Powell
Riverchase Dermatology and Cosmetic Surgery
Fort Myers FL
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