Creating and processing reportable income reports, forms, and tapes

If you complete the setup of 1099 reportable income for vendors, then you can do these:
  • Create a 1099 reportable income report
  • Adjust a 1099 reportable income or invoice
  • Create 1099 reportable income forms or tapes
  • Create 1099 corrected returns forms and tapes
Note: Only invoices that have been paid within the specified date range appear on reportable income reports, forms, or tapes.

Before processing reportable income, you must follow these steps:

Reportable income

Follow these steps to verify reportable income tracking throughout the year and to create and process reportable income reports, forms, or tapes for regulatory reporting:

  1. To create a list of all invoice payments that includes a vendor's reportable income balance for a specified payment date range, run Reportable Income Report (AP245):
    1. On the Main tab, specify this information:
      Reportable Income Group
      Select a valid reportable income group that represents a group of companies and process levels in the Accounts Payable application.
      Vendor Class
      To include invoice payments with an assigned specific vendor class, specify or select a vendor class.
      Currency
      Specify or select a valid currency code for the 1099 reportable income invoice reports.
      Payment Dates
      To include reportable income invoices for a specific range of payment dates in the vendor's 1099 reportable income report, specify or select the starting and ending payment dates.
      Income Code
      To include invoice payments with a specific income code in the reportable income, specify or select the income code.
      Report Sequence
      Select whether to sort the 1099 reportable income reports in vendor, process level, or vendor class. The default report sequence is V.
      Vendor Sequence
      Select whether to sort vendors in vendor number, search name, or tax ID order. The default vendor sequence is N.
      Note: When you run the report with the Vendor Sequence field set to T, all vendors without a tax ID are printed at the beginning of the report.
      Include Comments
      Select whether to include vendor and invoice comments on the list of all invoice payments. The default include comments is Y.
      Include Voids
      Select whether to include voids on the list of all invoice payments. The default include voids is N.
      Include Archive Records
      Select whether to include archived payments on the list of all invoice payments. The default include archive records is N.
      Report Type
      Select whether the type of 1099 reportable income report to create is miscellaneous, interest income, dividend, government payments, merchant card and third-party network payment, foreign person, or non-employee compensation.
      Vendors
      To limit the vendors that are processed by Reportable Income Report (AP245), specify or select up to 10 vendors.
    2. If there is a required minimum amount to create values on the 1099 reportable income report box fields, then specify the minimum amount in the numbered Box fields on the Misc, Interest, Dividend, Gov't Payments, and NEC tabs.
    3. On the Merchant Group tab, specify this information:
      Program
      Select which P-Card program to use when creating the 1099 reportable income report.
      Merchant Group
      Select which merchant group to limit the 1099 reportable income report.
      Merchants
      Select which merchant to limit the 1099 reportable income report.
    4. Click Submit.
  2. To add, change, or delete an income code from an invoice or change the reportable income amount applied to an invoice, run Reportable Income Adjustment (AP45.1).
  3. To create reportable income forms, run 1099 Forms Creation (AP145):
    1. On the Main tab, specify this information:
      Reportable Income Group
      Select a valid reportable income group that you previously set up using Reportable Income Group (AP02.1).
      Currency
      Specify or select a valid currency code for the 1099 reportable income forms.
      Report Type
      Select the type of forms to create:
      • Miscellaneous
      • Interest income
      • Dividend
      • Government payment
      • Merchant card and third-party network payment
      • Non-employee compensation
      Payment Dates
      To include reportable income invoices for a range of payment dates, specify the starting and the ending payment dates.
      Print Sequence
      Select the 1099 reportable income forms to sort:
      • Vendor number
      • Tax ID
      • Search name order
      Name Option
      Select to print the vendor name or the legal vendor name on the 1099 reportable income forms.
      Filing Option
      Select P to create Print (incform) output.
      Print Type
      Select the type of 1099 reportable income form you want to create:
      • One-transaction corrected G
      • Two-transaction corrected G
      • Two-transaction corrected C
      Note: You can create an Original (blank) and Correction form. If you leave this field empty, the default print type is <blank>.
      Alignment Forms
      Specify the number of alignment forms required before printing reportable income forms. If this field is left blank, then there are no alignment forms used.
      Truncate Tax ID
      Select whether to show the tax ID on the 1099 reportable income forms.

      When set to Y, only the last four digits of the TAX ID are shown. Otherwise, select N.

      Note: This truncation only applies to the printed report.
      Mask Recipient TIN
      Select Y to display the last 4 digits of the recipient's tax ID, otherwise select N.
      Note: This field only applies to printed forms.
      Vendor
      Select up to 10 vendors so that you can limit the 1099 reportable income forms to specific vendors.
    2. On the Miscellaneous tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 form. Specify an amount in the corresponding numbered box field to indicate the minimum amount required to create a form.
    3. On the Interest tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 form. Specify an amount in the corresponding numbered box field to indicate the minimum amount required to create a form.
    4. On the Dividend tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 form. Specify an amount in the corresponding numbered box field to indicate the minimum amount required to create a form.
    5. On the Gov’t Payments tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 form. Specify an amount in the corresponding numbered box field to indicate the minimum amount required to create a form.
    6. On the NEC, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 form. Specify an amount in the corresponding numbered box field to indicate the minimum amount required to create a form.
    7. On the Merchants tab, specify this information:
      Program
      Select the P-Card program to use when creating the 1099 reportable income forms.
      Merchants
      Select which merchant to limit the 1099 reportable income forms.
    8. Click Submit.
  4. To process reportable income tapes, run 1099 Tape Creation (AP146):
    1. On the Main tab, specify this information:
      Reportable Income Group
      Select a reportable income group that you previously set up using Reportable Income Group (AP02.1).
      Currency
      Select a valid currency code for 1099 reportable income tapes.
      Report Type
      Select the type of 1099 reportable income tapes to create: miscellaneous, interest income, dividend, government payments, merchant card and third party network payments, or non-employee compensation.
      Payment Dates
      To include reportable income invoices for a range of payment dates, specify the starting and the ending payment dates.
      Print Sequence
      Select the 1099 reportable income forms to sort:
      • Vendor number
      • Tax ID
      • Search name order
      The default print sequence is N.
      Name Option
      Select to print the vendor name or the legal vendor name on the 1099 reportable income tapes.
      Filing Option
      Select to file an electronic 1099 tape output or a print (incform) output.
      Print Type
      Select the type of 1099 reportable income form:
      • One-transaction corrected G
      • Two-transaction corrected G
      • Two-transaction corrected C
      Note: You can create an original (blank) and corrected reportable income forms. If you leave this field blank, then the default print type is <blank>.
      Alignment Forms
      Specify the number of alignment forms required before printing reportable (1099) forms. If this field is left blank, no alignment forms are used.
      Tape Type
      Select the type of 1099 reportable income tape:
      • Original
      • Test
      • Replacement
      • One-transaction corrected G
      • Two-transaction corrected G
      • Two-transaction corrected C
      Note: You can create an original, replacement, test, or correction tape. If you leave this field blank, then the default tape type is O.
      Truncated Tax ID
      Select whether to show the tax ID on the 1099 reportable income forms.
      Combined Federal/State
      Select to send the K record and the 1099 reportable income tape to the IRS.
      Note: IRS forwards the records to the states that participate in the combined federal/state program.
      Mask Recipient TIN
      Select Y to display the last 4-digits of the recipient's tax ID. Otherwise, select N.
      Note: This field only applies to printed forms.
      Vendor
      Select up to 10 vendors so that you can limit the 1099 reportable income tapes to specific vendors.
    2. On the Miscellaneous tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 reportable income tape. Specify an amount in the corresponding numbered box field to indicate the minimum amount required to create a reportable income tape.
    3. On the Int tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 reportable income tape. Specify an amount in the corresponding numbered box field to indicate the minimum amount required to create a
    4. On the Dividend tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 reportable income tape. Specify an amount in the corresponding numbered box to indicate the minimum amount required to create a reportable income tape.
    5. On the Gov't Payments tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 reportable income tape. Specify an amount in the corresponding numbered box to indicate the minimum amount required to create a reportable income tape.
    6. On the NEC tab, specify this information:
      Box <number>
      Each box corresponds to a box with the same number on the 1099 reportable income tape. Specify an amount in the corresponding numbered box to indicate the minimum amount required to create a reportable income tape.
    7. On the Merchants tab, specify this information:
      Program
      Select which P-Card program to create the reportable income tapes.
      Merchants
      Select which merchant to create the 1099 reportable income tapes.
    8. On the File Name tab, specify this information:
      1099 Filename
      Specify a user-defined file name. If this field is left blank, then the default file name is AP146TAPE. These are the default file name for one-transaction and two-transaction corrected returns:
      • AP146TAPEONEG for one-transaction corrected G
      • AP146TAPETWOG for two-transaction corrected G
      • AP146TAPETWOC for two-transaction corrected C
    9. Click Submit.

Related reports and inquiries

To Use
List income codes or income withholding codes Accounts Payable Code Listing (AP205)