Vendor Administrator Year End overview
Function acronym: APAY
This report must be generated at the end of the fiscal year for vendors. The Vendor Setup records are cleared and/or updated in preparation for accumulating the new fiscal year information.
Only operators who have a security level 3 or higher can update vendor records.
These Vendor Inquiry balances are updated as indicated:
- Invoices YTD moves to Invoices Last Year
- Payments YTD moves to Payments Last Year
- Returns YTD moves to Returns Last Year
- Rebates YTD moves to Rebates Last Year
- Discounts Taken YTD moves to Discounts Taken Last Year
These balance are cleared:
- Invoices YTD
- Payments YTD
- Returns YTD
- Rebates YTD
- Discounts Taken YTD
- Discounts Lost YTD
- # of POs YTD
- # of POs Late
You can run your 1099 Forms before or after you perform year end processing. If you print 1099s before year ending, print them using the current Payments YTD. If you print 1099s after year ending, print them using the previous year's payments. You select the current or previous year's payment on the Vendor Administrator Federal 1099 report.
The report that is generated gives you the total number of vendor balances that were set to 0. If your operator did not have security for all companies in your company range, you will receive an error message and the report will not be processed.