Dynamics SL 2015 New Feature: 1099 Vendor Backup Withholdings

Posted by Jen Bieker on March 24, 2015


1099 Vendor backup withholdings have always been a manual process in Dynamics SL.  Maybe you are required to withhold for a vendor, or you are just missing information; such as the vendor Tax ID.  One of the great new features found in Dynamics SL 2015, is the automation of this process.  There are a few additional features added to the 1099 screen to specify backup withholding options.

  • Calculate Backup Withholding
  • Backup Withholding Pct:
  • Backup Withholding:  Account, Subaccount, & Company

 

Additionally, Dynamics SL 2015 will look through all vendors that fit a certain criteria or condition, automatically turn on backup withholding, and flag them.  They’ve even given us the ability to limit the warning message box.  Just add a check mark to the “Disable Backup Withholding Warning” box. 

 

 

Where do these warnings take place?

  1. Voucher and Adjustment Entry
  2. Quick Voucher and pre-Payment Entry
  3. Voucher Entry – Distributed Liability

Where can you view withholdings?

  1. Vendor Maintenance:  Document Tab – Type:  BW
  2. Vendor History – new column added, “PTD Backup Withholdings”

 

Want to learn more, watch a short video on setting up withholdings.  https://www.youtube.com/watch?v=cSOeqWkPj0c

Time to invest in Dynamics SL 2015?  Contact Crestwood today at Marketing@Crestwood.com


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