1099 Journal

The generation of 1099 and other tax forms is something most applications do on an annual basis. To facilitate this function, a 1099 Journal (J1099) has been provided that contains a targeted set of records that may apply to 1099 generation. "May apply” is a key phrase in defining what is in the 1099 Journal as what vendors as well as what Objects, Sub Objects, Balance Sheet Accounts, and Sub Balance Sheet Accounts are reportable is not completely known until after a year has finished and the 1099 information reviewed. As delivered, the posting codes for Cash (A001) and Warrants Payable (D007) are established as Journal Type for 1099 Reporting on the Posting Code (PSCD) page. As these are used on disbursements that update expenditures as well as those that pay from balance sheets, they update the 1099 Journal. When a new posting code is created to duplicate either A001 or D007, then it should be considered for 1099 Journal updates.

The 1099 Journal is not a balanced journal as it contains only one-half of a pair of debits and credits posted, but it is a very efficient journal for 1099 use. Options exist on the Application Parameter (APPCTRL) page along with others on the Transaction Control (DCTRL) page to further refine selection for the 1099 Journal to make it more efficient. Those controls are detailed later in this Financial Administration User Guide.

The 1099 Journal contains the following fields that are not found on any other journal to facilitate the 1099 process.

Field Name	Field Description
Calendar Year	As 1099 and other tax reporting is done on a calendar year basis, this journal captures this additional year for reporting purposes.
Reportable BSA	When disbursements are made directly from a balance sheet account, that account is recorded in the Reportable BSA field in the event the account is setup for 1099 reporting on the Balance Sheet Account (BSA) reference page.
Reportable Sub BSA	When disbursements are made directly from a sub balance sheet account, that account is recorded in the Reportable Sub BSA field in the event the sub account is setup for 1099 reporting on the Sub Balance Sheet Account (BSA) reference page.

The 1099 Reported Income link transitions you to the 1099 Reported Income page and filters the results based on the Calendar Year, TIN, and TIN Type from the record selected on the 1099 Journal.
The 1042-S Reported Income link transitions you to the 1042-S Reported Income page and filters the results based on the Calendar Year, TIN, and TIN Type from the record selected on the 1099 Journal.