Reportable income groups

A reportable income group is used to group companies or process levels within a vendor group. The sole purpose of reportable income groups is creating reportable income forms and tapes. You define a reportable income group and then assign companies or process levels to the group.

Because you generate 1099 forms and tapes by reportable income group, you must define at least one group for each tax identification or registration number. The reportable income group name and address is used on the reportable income forms and tapes. You can define and change reportable income groups at any time to fit your income reporting requirements.

If you have only one company that represents a single legal entity, then defining one reportable income group for the company is probably sufficient. If you have multiple legal entities, then you can define a reportable income group for each entity. It does not matter whether that entity is defined as an accounts payable company or a process level.