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?
- Voucher and Adjustment Entry
- Quick Voucher and pre-Payment Entry
- Voucher Entry – Distributed Liability
Where can you view withholdings?
- Vendor Maintenance: Document Tab – Type: BW
- 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