Enter a code for a reason for payment for foreign payment.
Example
- SRV: Services
- DG: Delivered Goods
Reasons for Payment (tfcmg0130m000)Use this session to maintain the reasons for payments to foreign business partners. You can also use reason codes for IRS 1099-misc income payments or Z4 reporting. Note If you have started this session by zooming, you can only find or select a record.
Reason for Payment Enter a code for a reason for payment for foreign payment. Example
Valid for1099-MISCFiling Purposes If this check box is selected, the payment reason code is used for 1099-MISC Income payments, which must be reported annually to the United States government. The payment reason codes are checked in the 1099 Box Numbers (tfcmg1115m000) session and the Reasons for 1099 Box Numbers (tfcmg1116m000) session to determine if the codes can be assigned to a 1099 box number. When these reason codes are associated to a purchase invoice or a standing order, the related payments are included in the 1099-MISC Income reporting for that year. Reason for Services For payments with a reason code for which this check box is selected, additional information (the so-called W record) is included in the German DTAZV file for foreign payments. In Germany, this information is legally required to report the payment for the service to the German Federal Bank. Use Additional Description If this check box is selected, you can add an additional description to the reason for payment. Default Additional Description The default additional description that LN uses for purchase invoices that have a reason for payment to which additional descriptions are linked. If you wish, you can change the additional description code when you maintain the purchase order or create the bank files. If you select the Use Additional Description check box, you can select a default additional description. Reason for Payment Group The method used to group reasons for payment on the Z4 report. A subtotal is printed for each reason for payment group. Note This field is only available if, in the CMG Parameters (tfcmg0100s000) session, on the Reporting tab, Z4 reporting is enabled. Required for Z4 If this check box is selected, the reason for payment is required for Z4 reporting. Note This field is only available if, in the CMG Parameters (tfcmg0100s000) session, on the Reporting tab, Z4 reporting is enabled.
Print Reasons for Payments Starts the Additional Description by Reason (tfcmg0131m000) session, which you can use to define or select the additional description of the selected reason for payment.
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