By using this website, you agree to our Terms of Use (click here)
Does anyone know how to enter 1099 Beginning Balances in Acumatica? We went live on June 1st, 2017, but in order for the 1099 reports to be correct as of 12/31/2017, I need to load in the 1099 balances from our old system as of 05/31/2017.
A already loaded in my General Ledger balances so I don't want to impact the General Ledger. I just want to impact the 1099 reports.
Hi Scooter,
The best way I know is to use the Quick Checks (AP304000) screen. This screen essentially allows you to bypass the Accounts Payable account and make an entry directly to Debit Expense and Credit Accounts Payable without having to do two steps: Bill, then Payment.
Since you don't want to impact the General Ledger, the trick is to make the Account field on the Document Details tab match the Cash Account field value.
Then you can also set the Date at 5/31/2017 and put a value in the 1099 Box field on the Document Details tab.
Also, I recommend choosing a Payment Method other than CHECK. That way you can skip the check printing step and you don't mess up your check number sequence.
One more thing, you might want to pick a Cash Account that you don't reconcile. Otherwise you will have a bunch of ins and outs to match up on your next reconciliation which isn't the end of the world because they will net to zero, but it's still a lot of clicking.
When you click the RELEASE button, Acumatica will still generate a journal entry, but since you made the two GL Accounts match, the journal entry will essentially have no impact on the General Ledger:
One final note, just like with most screens, you could load the balances from Excel into the Quick Checks (AP304000) screen using an Import Scenario.
Not the prettiest thing. I wish there was an "Import 1099 Balances" screen. But this will do for now. Thank you.
Online Members
