On the vendor card IRS 1099 code when it is changed it will prompt you to update the ledger entries.
One or more entries have been posted with IRS 1099 code xxxxx.
Do you want to continue and update all the data associated with this vendor and the existing IRS 1099 code with the new code?
When you click NO - it will not update the previous ledger entries and all new entries will have the new code
When you click YES - it will update all of the ledger entries with the new code.