Understanding F0911 Table Adjustment
To ensure complete and accurate 1099 reporting, you might need to adjust payment records in the Account Ledger table (F0911). Reasons to adjust payment records include:
If a 1099 payment amount erroneously includes an amount for freight or shipping, you would add an adjustment to reduce the amount of the existing journal entry.
If the entire 1099 payment amount is not eligible for 1099 processing, you would add an adjustment to exclude the amount from 1099 processing.
If the Update Payment Information program (R04513) marks an amount as unresolved, you would add an adjustment for the payment number, if applicable.
Depending on how you set a processing option for the Update Payment Information program (R04513), the system marks unresolved amounts, such as partial payments and discounts, with * in the Payment Number field. Amounts marked with * are not selected for 1099 processing. To correct unresolved amounts, you must enter adjustments by using the Enter Payment Adjustments program (P04510). For example, you would replace the * with a valid payment number for payment amounts that should be included in 1099 processing. Conversely, you would add * to mark a payment amount as an exception to exclude it from 1099 processing.
When you adjust an existing journal entry in the actual amounts (AA) ledger, the system creates an adjustment record in the tax (TX) ledger in the F0911 table. The TX record adjusts the payment amount reported on the 1099 form only. The system does not update the existing journal entry in the AA ledger of the F0911 table.