Book Image

Microsoft Dynamics GP 2010 Cookbook

By : Mark Polino
Book Image

Microsoft Dynamics GP 2010 Cookbook

By: Mark Polino

Overview of this book

Microsoft Dynamics GP is an Enterprise Resource Planning system, essentially an accounting system on steroids, designed for mid-sized organizations. The implementation of Dynamics GP is usually considered to be complex, and people often realize there must be more efficient ways of working with the system. This book will show readers how to improve their use of Dynamics GP and get the most out of this tool quickly and effectively.This book picks up where implementation training leaves off. Whether you are new or experienced you will find useful recipes for improving the way you use and work with Dynamics GP. The clear recipe steps and screenshots make implementing these solutions easy for users of any level and will be sure to improve your efficiency with the Dynamics GP system.The book starts with recipes designed to enhance the usefulness of Microsoft Dynamics GP by personalizing the look and feel of the application. Most of the recipes are designed to give tips for a typical installation of Dynamics GP, including core financials and distribution modules. The book then moves through recipes that include automating Dynamics GP to allow users or administrators to focus on value adding tasks, harnessing the power of SmartLists to leverage both simplicity and power, connecting Dynamics GP to Microsoft Office 2007, exposing hidden features in Dynamics GP, and much more!By following the clear recipe steps and screenshots in this book, you will learn what is required to improve your efficiency with the Dynamics GP system
Table of Contents (17 chapters)
Microsoft Dynamics GP 2010 Cookbook
Credits
About the Author
Acknowledgement
About the Reviewers
Preface
Index

Providing correct tax information by Updating 1099 information


A common problem arises at year end in the United States with vendors that were not properly set up as 1099 vendors. 1099 vendors are vendors who are required to be sent a 1099 tax form from the company. The types of transactions that can require a 1099 include rent, legal payments, and contract labor among others. The requirement is broad enough that most vendors who are not incorporated (proprietors, partnerships, and so on) may be due a 1099 if they are paid more than six hundred dollars in a year.

Recent changes to the U.S. law have dramatically increased the number of 1099 forms that will need to be sent in the future. Essentially, all payees who receive more than $600 in payments will need to receive a 1099 in the future. As part of this legislation the fines for 1099 reporting errors have also been increased significantly. Correctly reporting 1099 information is more important than ever and this recipe can save companies...