Financial Management - PSFT (MOSC)

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1099 Processing - IRS File Correction

edited May 19, 2015 10:04AM in Financial Management - PSFT (MOSC) 1 commentAnswered

Hi,

I have a question regarding the IRS file correction/replacement. The original IRS file didn't include 2 vendors. Our AP team ran the 1099 process and send the COPY B's to the 2 vendors. When creating the IRS file, we've processed it as a correction file since the original file was accepted without errors.

1) New IRS file created has only 2 vendor records. 'B' record in the file has 'G' at position 6 to say that these are corrections.

2) 1099 COPY Bs generated today has the 'Corrected' check box checked. Since we've already sent the COPY B to the vendors, we didn't send the latest one's generated today. The COPY Bs sent before didn't have the 'Corrected' check box checked.

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