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<< Click to Display Table of Contents >> Navigation: 1099 Module > Extract 1099 Entries > Other 1099/1098 Extracts > Extract G/L 1099's |
This menu is found under Other 1099/1098 Extracts.
This is the final type of 1099 extract that the system currently offers. It is used less frequently and was created for a user that converted mid-year and didn’t want to have to combine the 1099 detail from their old software with the 1099 detail in PakEnergy Accounting.
This gives the ability to extract information from the General Ledger posted detail. To properly use this feature, your G/L transactions must be coded to a G/L account that has Sub-Account detail at the recipient level. For instance, owners or vendors.
Multiple extracts will be needed if you need to report on multiple expense accounts. You may use the Change Account/Sub-Account option in View/Trend if the information wasn’t previously coded properly to get the extract to work.
Ideally this extract is done for all entries, but it can be done for “Only Positive Entries” or “Only Negative Entries” if narrowing the journal down doesn’t exclude the check or invoice (depending on which one the client is using for reporting purposes). Please be aware that selecting positive or negative entries will omit journal entries that have been reversed.
•Delete all 1099 data from all systems- Selecting this option will delete all 1099 AP, Revenue, and G/L data that has been extracted. This option is rarely used.
•Delete all G/L1099 extracted data – Selecting this option will erase any 1099 extracted data but will not erase extracted data from Revenue or G/L extracts. This is the default option and the most commonly used.
•b – This option will not erase any data from the A/P, Revenue, or G/L systems. Instead, this option will add newly extracted data to previously extracted data. This option is rarely used.
•Journal – Select the journal(s) transactions are coded to
•Account- Choose the account that the transactions are coded to. If there is more than one account that needs to be included, then you must extract one account at a time using the None option mentioned above in Action to perform prior to extracting.
•Minimum dollar amount – Selecting this option will only extract transactions that meet the minimum dollar amount set.
•Reverse sign- Selecting this option will reverse the sign on amounts that are extracted, If you are extracting an account that holds a credit balance the sign will be reversed. Negative amounts are not reported on 1099’s.