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Important Field InformationThe Vendor/Customer (VCUST) table includes information about whether a vendor is subject to 1099 Reporting.
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Important Field Information
Organization Type -For 1099 Reporting, you must choose the type of organization; two options are available (Individual, Company).
1099 Classification - For 1099 vendors, you must choose the classification that best describes the vendor. If this field is blank for 1099 vendors, then the vendor is not evaluated for 1099 reporting. For 1042-S vendors, this is optional.
1042-S Ch. 3 Recipient Code - This field allows you to enter or select the Recipient Code for the vendor if they are Chapter 3 1042-S reportable. The field will be a pick to the 1042-S Organization Type/Recipient Code Crosswalk (OTRC) table. If this field is entered before the Organization Type field, the associated Organization Type will be inferred to the Organization Type field. If the 1042-S Ch. 4 Status Code field is populated then this field must be blank.
1042-S Ch. 4 Status Code - This field allows you to enter or select the Ch. 4 Status Code for the vendor if they are Chapter 4 1042-S reportable. The field will be a pick to the 1042-S Organization Type/Chapter 4 Status Code Crosswalk (OT4C) table. If this field is entered before the Organization Type field, the associated Organization Type will be inferred to the Organization Type field. If the 1042-S Ch. 3 Recipient Code field is populated then this field must be blank.
1042-S Recipient Account Number - This field allows you to enter or select the Recipient Code for the vendor if they are 1042-S reportable. This field provides a pick to the Recipient Account Number field on the 1042-S Reporting Information table. This field is required if the 1042-S Indicator field is Yes.
1099 Indicator - This field specifies if the vendor is 1099 reportable. It is inferred from 1099I.
1042-S Indicator - This field specifies if the vendor is 1042-S reportable. It is inferred from the 1042I table upon the entry of a TIN Number/TIN Type. Either 1042-S Ch. 3 Recipient Code or 1042-S Ch. 4 Status Code must be populated, if 1042-S Indicator is Yes.
IRS Country of Residence -This field specifies the IRS Country code required for 1042-S reporting. It is a pick to the IRS Country of Residence (ICTRY) table.
IRS Country Sub Code - This field specifies the IRS Sub Country code required for 1042-S reporting. This value is required because the IRS assigns the same IRS Country Code to be used with multiple countries (for example, territories belonging to other countries).
Contract Withholding Exempt - This field indicates whether the payment line is exempt from contract withholding. If the Contract Withholding Exempt check box is selected for a vendor record on the VCUST table, then the vendor is exempt from Contract Withholding. If a vendor is exempt, all commodity lines and accounting lines for the vendor are exempt from Contract Withholding.
Taxpayer ID and TIN Type - These fields are conditionally required, when the TIN Enforcement flag is selected on the Vendor Customer Configuration (VCNFG) page for all active vendors except the miscellaneous and internal vendors, if the 1099 Classification, 1042-S Ch. 3 Recipient Code, and 1042-S Ch. 4 Status Code fields are left blank.
The 1099 Information Entry page can only be accessed by clicking Related Pages > Add 1099 Information Entry from the row-level menu on the Vendor/Customer (VCUST) table. This page allows you to create a 1099 Reporting Information record without having to navigate to the 1099I table. After selecting OK, if no errors are found, a new record is added to the 1099 Reporting Information (1099I) table. This new record can then be chosen in the Taxpayer ID Number field on VCUST.
Select Cancel to return to VCUST without saving any changes made on the 1099 Information Entry page.
The 1042-S Information Entry page can only be accessed by clicking Related Pages > Add 1042-S Reporting Information Entry from the row-level menu on the Vendor/Customer (VCUST) table. This page allows you to create a 1042-S Reporting Information record without having to navigate to the 1042I table. After selecting OK, if no errors are found, a new record is added to the 1042-S Reporting Information (1042I) table. This new record can then be chosen in the 1042-S Recipient Account Number field on VCUST.
Select Cancel to return to VCUST without saving any changes made on the 1042-S Information Entry page.