SECTIONS1099 Reports
The following 1099 reports are available:
- 1099-MISC Payments Report
- 1099-NEC Payments Report
- Transaction Details for 1099 Reporting
1099-MISC Payments Report
The 1099-MISC Payments Report consists of two tables. The first table enables you to view the following values:
- Total value of transactions line items of type "Account" per income tax type and per account
- Sum of each income tax type total value for all the accounts
- Sum of all income tax types values per account
- Sum of the values for all income tax types and all accounts
- Count of the transaction line items per income tax type and per account
- Count of the transaction line items per income tax type for all the accounts
- Count of the transaction line items for all income tax type per account
- Count of all transaction line items
The table displays all the values in the home currency.
The second table enables you to view the value of each transaction line item and the total value for the selected account and income tax type.
1099-NEC Payments Report
The 1099-NEC Payments Report consists of two tables. The first table enables you to view the following values:
- Total value of transactions line items of type "Account" per income tax type and per account
- Sum of each income tax type total value for all the accounts
- Sum of all income tax types values per account
- Sum of the values for all income tax types and all accounts
- Count of the transaction line items per income tax type and per account
- Count of the transaction line items per income tax type for all the accounts
- Count of the transaction line items for all income tax type per account
- Count of all transaction line items
The table displays all the values in the home currency.
The second table enables you to view the value of each transaction line item and the total value for the selected account and income tax type.
Transaction Details for 1099 Reporting
The Transaction Details for 1099 Reporting report enables you to identify and support any manual adjustments to the exported payments data. The report provides details of all transactions for payments made to vendor accounts that are currently marked as 1099 reportable. It identifies both the income tax type currently associated with each 1099 reportable account, and the income tax type on the transaction line item of type "Account" for each transaction paid between the selected dates.
This helps you to identify any transactions where:
- The transaction was created before the account was marked as 1099 reportable.
- The income tax type on the account has been modified since the transaction was created.
The report also identifies both the general ledger account and, where relevant, the product for each of the analysis lines belonging to the paid document. This helps you to apportion the total amount paid across 1099 reportable and non-reportable categories.