You can make adjustments at any time during the year.
For example, suppose you print the YTD Purchases List and it is not correct. The report only reflects checks written in Accounts Payable, so you need to make an adjustment.
The YTD adjustment option ensures that 1099 totals and YTD totals for each vendor are correct at the end of the year by updating both the vendor’s 1099 total and the vendor’s year-to-date purchases total.
You can also edit the vendor’s invoices to update the 1099 option or enter a 1099 and YTD adjustment in Inquiry or Add/Edit Invoices. The following table describes when to use which option.
1099 Purchases Total
Update the 1099 option on the invoice
Enter a 1099 & YTD Adjustment
If you begin using the Accounts Payable module after the first of the year, you can enter the 1099 adjustments for each vendor. You can enter all accumulated dollar amounts for all applicable 1099 invoices without entering each invoice manually into the system.