Creating reportable income groups and reporting organizations

  1. Select Financials > Payables > Payables Setup > Reportable Income Setup.
    For reportable income groups, click the Reportable Income Group tab.

    For reporting organizations, click the Reporting Organization tab.

  2. Click Create.
  3. Specify this information:
    Payables Reporting Organization
    Select a reporting organization for the reportable income group. This field is not available when creating a reporting organization.
    Reportable Income Group
    Specify the name and description for the reportable income group. This group represents a group of accounts payables companies and process levels.
    Reporting Organization
    Specify the name and description for the reporting organization. This organization 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 number is used to create miscellaneous 1099 reportable income forms.
    Transmitter Control Code
    Specify the transmitter control number. This code 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
    Specify 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.
    From Email Address
    Specify the email address from which to send 1099 reportable income tapes.
  6. Click Save.