Creating income codes

Use income codes to track vendor reportable income for reporting or withholding purposes. An income code represents a type of 1099 reportable income tax form or electronic file record.
  1. Select Income Codes.
  2. Click Create.
  3. Complete the fields.
  4. Specify this information:
    Form Type
    Specify the type of tax form that is created when creating 1099 Tax Forms or Tapes.
    • Nonemployee Compensation
    • Miscellaneous
    • Interest
    • Dividends
    • Government Payments
    • Merchant Card And Third Party
    • Foreign Person
    Box Number
    Specify the tax form box number that is used to print a vendor's accumulated reportable income. Each form has corresponding boxes for various types of income.
  5. Click Save.