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Distributor merged with another company- Should I create a new vendor or just change the Tax Id and

seckl
seckl Member Posts: 2
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Our distributor has merged with another company. (Different Tax Id's)   We have received notification of a go live of 12/31 with the new vendor name and with the new tax ID. Should I create a new vendor or just change the Tax Id and name for the current vendor? If we create a new vendor it is a major change in our system. (contracts, pars, ic12, po13,etc) What is the harm in just changing the Tax ID on our existing vendor # in Lawson?

 

Thanks,

Michelle

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  • Unknown
    Unknown
    Before changing the Tax ID, you might want to review gov't reporting requirements. The IRS takes a dim view of unfiled reporting. The Tax ID is the key that the IRS uses to determine whether a report was filed or not. If there are absolutely no reports that are going to go to the IRS with that vendor's Tax ID on it, you might (and I use the word "might" here, as in, It is possible, but I don't know) be able to get away with changing the Tax ID. Yes, it's a pain in the *** to set up a new vendor, but, I was told by my AP people: New Tax ID, new vendor record! That's my 2-cents'-worth.

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