1099 and 1042-S Reporting Setup

In Advantage Financial, the 1099 Reporting Process contain a few common tables used by both the 1099 and 1042-S process to define reporting payer information, transmitter information, and some common parameters used by transactions, tables, and batch jobs.

The following are key pages that are used to set up 1099 Reporting for both 1099 and 1042-S. Refer to page help for each of the pages, for more information.

Page Name	Page Code	Description
1099 Reporting Information	1099I	This page stores taxpayer information, such as TIN and TIN Type, to support 1099 Processing. Taxpayer information is then linked to individual vendors. 1099 and 1042-S taxpayers must be defined on this table. If the taxpayer is used for 1099 then the 1099 Reportable flag should be selected. If the taxpayer is used for 1042-S, then 1042-S Reportable flag will be inferred from 1042I.
1099 Reporting Information by Department	1099ID	This page stores taxpayer information, such as TIN, TIN Type, and Department to support 1099 Processing. This page allows you to create and manage Taxpayer ID by department and provides the ability to restrict view and update access by department. If the taxpayer is used for 1099, then the 1099 Reportable flag should be selected. If a TIN and TIN Type should not be 1099 reportable, then deselect the 1099 Reportable flag when creating a new record.
1099 Processing Options and Control	1099P	This page accepts user parameters, and is used as input to drive 1099 Processing. For sites using Tax Reporting, the indicator must be selected for the specified calendar year.
1099 Reporting Payer Information	1099RP	This page allows for multiple payees in one calendar year. This page allows you define the TIN, TIN Type, Name, Address, and Contact Information, for each Reporting Payer for whom you report to the IRS.
1099 Transmitter Information	1099TI	This page provides the ability to define valid Transmitter Control Codes (the Payer) and stores transmitter information used by 1099 Processing.
Chart of Accounts pages	OBJ/SOBJ BSA/SBSA	These pages link the chart of accounts code to the 1099 or 1042-S reportable type of income. For 1099, the type of income is defined on TINC. For 1042-S, the type of income is defined on 1042T.
Department Fiscal Year Controls	DEPTFY	This page allows Departments to set controls that differ from one Fiscal Year to another. DEPTFY contains a 1099 Reporting Payer field that may be used define the 1099 Reporting Payer associated with the Department Fiscal Year record. This field is required when the ‘Multiple 1099 Reporting Payers’ flag on the SOPT table is checked for the same FY value. If the ‘Multiple 1099 Reporting Payers’ flag is unchecked, then this field must be blank.
Tax Form Box Cross Reference	TAXBXRF	This page provides the Box Number and caption for each tax form for a given Tax Year.
Tax Form Options and Parameters	TAXOPT	This page is used by the Advantage Tax Reporting process to control processing for each of the Form Types for the specified tax year. It primarily provides defaults and configuration for Forms Table Load Chain and Tax Form Printing processes.