Question
A client plans to use Dynamics 365 Finance for year-end 1099 reporting in the United States.
You are viewing a vendor master data record on the 1099 FastTab.
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.
Explanation
Which prompt appears: on the vendor record Check for W-9 is set to Yes while W-9 received is No, so when an invoice for this vendor is posted the system warns that the W-9 has not yet been received. The Tax ID type of Unknown and the Foreign entity indicator being off do not trigger that check. Default federal tax withholding type: the 1099 box field on the Tax 1099 FastTab holds the default value that appears on every transaction line created for the vendor, so selecting the withholding box (for example box 4, federal income tax withheld) sets the default on invoice journal lines. The Federal tax ID only records the vendor's taxpayer identification number, and W-9 received only records the form status.
