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What is the 1099 Initialization utility?

Resolution:

The 1099 Initialization utility is used to move the amounts from the Paid This Year to the Paid Last Year field on the Vendor Info Center > Accounting tab. Vision uses the Paid Last Year field value to print on the current 1099s.

Initialize the 1099 data to clear out and store 1099 date from the previous year and start accumulating 1099 data for the new year. Initialize 1099 data whether or not you intend to produce 1099 forms.