One of the biggest headaches for many accounts payable staff is tracking the receipt of the vendors W-9 form.
The W-9 form, also known as Request for Taxpayer Identification and Certification, is used by entities to verify that they have the correct Taxpayer Identification number for anyone they make a payment to. If required, these payments can be reported to the IRS.
In one instance, a client spent nearly forty hours going down a vendor checklist to verify that W-9’s had been received and were present in the vendor paper file. This was a tedious task, and a major loss of productivity!
We have some solutions for GP 10.0 to help you so you never have to put your AP staff through this. The first solution is to create a custom field so that you can document, right on the vendor card, that you have received the form from the vendor. The second solution is to attach a copy of the form right to the customer card so it is always handy and available for reference, (this solution is also paperless).
Let us begin with the custom field. Open the Vendor Maintenance window (Cards>> Purchasing >> Vendor)
If you look at the bottom right hand corner of the Vendor Maintenance window, you will see 3 boxes [Options; Address; Accounts]. Select the first one box labeled Options.
If you look about half way down the right hand side, you will see a field named User-Defined 1.
We are going to rename this field and use it to track the receipt of the W-9 form from the vendor. Once it is renamed, we can populate the box with a “yes” or “no”, and, we can now use this field as a searchable field in Smartlist (this is a timesaving step).
To customize the field: Go to Microsoft Dynamics GP >> Tools > Setup > Purchasing > Payables. This will open the Payables Management Setup window. (You may need to confirm that you have security permissions to do this. If not, contact your administrator.)
Down in the right hand corner, you will again see 3 boxes. Choose the first box labeled Options. The Payables Setup Options window opens and in the lower right hand corner of the window, you will see 2 fields named [User-Defined 1] and [User Defined 2]. In the box next to User-Defined 1 type ‘W-9 Received’. Select OK on the bottom of the window. And… congratulations; you have just customized this field!
The User-Defined 1 has now been renamed to W-9 Received. Now when you re-open the Vendor Maintenance window and select the Options box from the bottom right hand corner of the maintenance window, then scroll about half way down, you will see the field is now labeled 1099 Received and you can type Yes or No into the box next to the field name.
Next, let us review the paperless part. Did you know, you can scan your W-9 forms and attach them to the vendor card? This keeps them attached to the vendor record so when you pull up the vendor card, there will be note attachment that can just be opened and reviewed whenever you need to physically see the W-9 document.
Scan the document and save it to a shared file location. We recommend saving them to a shared network folder. Open the Vendor Maintenance window (Cards>> Purchasing >> Vendor). Open the Vendor that you have received the W-9 for. To the right of the vendor ID field, you will see a little box that looks like a notepad.
Click on this and you will open the Notes window. By opening this window with the vendor open, the notes entered here are specific to this vendor. Along the bottom of the notes window, you will see the image of a paperclip. When you click on the paperclip, the OLE container opens. This is where the image of your W-9 will reside.
To attach the image, within the OLE window that you just opened, go to Edit on the menu bar > Insert New Object > Adobe Acrobat Document (assuming you scanned the document and saved it as a .pdf). You can now browse out to find the W-9 you saved for this vendor and save it. It is now permanently attached to the vendor card (until it is deleted).