Because 1099 and 1042-S data are obtained from the 1099 Reporting Journal during the execution of the Offline 1099 Process based on a Vendor Customer Code, taxpayer information such as the name or 1099 mailing address can be changed at any time before forms are generated without affecting the reported income and forms output.
A Vendor Customer Modification (VCM) transaction is used to modify or add to an existing vendor or customer record. This transaction is used to update the VCUST table information, Customer Account Options (CACT) table information, 1099 Reporting Information (1099I) table and 1042-S Reporting Information (1042I) table information. For more information on the VCM transaction, refer to the “Vendor/Customer Modification (VCM) Transaction” topic in the CGI Advantage Procurement User Guide.
In addition, with proper security, changes can be made directly on the VCUST, 1099I, and 1042I tables.