Creating reportable income groups
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Select .
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Click Create.
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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.
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On the Address tab,
specify the address and contact information.
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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.
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Click Save.