Creating reportable income groups

  1. Select Financials > Payables > Payables Setup > Reportable Income Groups.
  2. Click Create.
  3. Specify this information:
    Vendor Group
    Specify a vendor group.
    Reportable Income Group
    Specify a name and description for the reportable income group. This group represents a group of accounts payables companies and process levels.
    Tax ID
    Specify the tax ID.
  4. On the Address tab, specify the address and contact information.
  5. On the 1099 Defaults tab, specify this information:
    Payer State Number
    Specify the state identification number. This is used for to create miscellaneous 1099 reportable income forms.
    Transmitter Control Code
    Specify the transmitter control number. This is used to create 1099 reportable income tapes.
    Transmitters Media Number
    Specify the number that is used to identify a particular piece of media. This field is for vendors who file their taxes electronically.
    Payer Name
    The first four characters of the Payer Name Control that is provided by the Internal Revenue Service. This is used to create 1099 reportable income tapes.
  6. Click Save.