The Department of Labor’s recent changes to LM-2 reporting represent the most significant update to annual union financial reporting in more than two decades. While many labor organizations are focused on understanding what has changed, an equally important question is whether their current business and accounting systems are prepared to support the new requirements. Preparing for your next LM-2 filing is not simply a matter of learning a revised form. It requires ensuring that your...

The Internal Revenue Service (IRS) requires one or more versions of the 1099 tax form for payments to vendors. Copies of these forms must be sent to vendors annually on or before the last day of January. On your purchase documents, you can specify that the document is 1099 liable, and you can specify the 1099 code for each vendor. Setup Before you start using Business Central, you must set up 1099 Form Boxes and Vendors as 1099 liable. The most common 1099 codes are already set up for you,...

With the holiday season shortly underway, we continue to look forward to helping both you and your fellow Great Plains users get the most...