Financial Management - PSFT (MOSC)

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Do 1099 Update Voucher Line Withholding updates always post to the current year?

in Financial Management - PSFT (MOSC) 5 commentsAnswered

Hi,

This may have always worked this way - if so, I just want to confirm. When you update withholding information through Update Voucher Line Withholding, does it always post to the current year? I believe the answer is yes because there is no place to enter a Payment Date or Declaration Date.

For example, a vendor that wasn't 1099 during 2020 now has 1099/withholding added to the vendor setup. There are vouchers paid during 2020 and 2021. If vouchers are updated on Update Voucher Line Withholding, that will post them all to 2021, and you would need to enter a withholding adjustment to move the applicable amount from 2021 to 2020. Is that correct?

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