Prepare vendor payment workpapers

Payment method, vendor identity and classification matter when reviewing contractor reporting. Correct the fictional trade-partner payment method, then inspect the vendor summary and coverage notes in the preparation package. Review W-9 information and reporting obligations with your preparer. Conduit does not file an information return here.

1. Open the fictional trade-partner record.
2. Record the sample payment method as check.
3. Open Prepare to file.
4. Open the package review step.
5. Review the vendor payment workpaper and limitations.