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What information prints on the 1099s in Accounts Payable?

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Summary

Amounts that are reported on the 1099s in Accounts Payable (AP).

Description

Cause

Resolution

You can specify which 1099 form you want to use with each Accounts Payable vendor as follows:

  1. From the Setup menu, select Vendors.
  2. Enter the vendor ID.
  3. Click the 1099 Settings tab.
  4. In the Form Type section, select the appropriate 1099 form type.
  5. Click Save and then click Close.

When you print your 1099s, the vendor 1099 amounts print for the following boxes based on the form type selected on the vendor setup:

1099 Form Type

Vendor amount box details

1099-NEC
  • Box 1 (Nonemployee compensation)

1099-MISC

  • Box 1 (Rents)
  • Box 10 (Gross proceeds paid to an attorney) if the Gross Proceeds Paid To An Attorney check box is selected on the vendor setup.

1099-DIV

  • Box 1a (Total ordinary dividends)

1099-INT

  • Box 1 (Interest income not included in box 3)

For additional year-end information, refer to the Year-End Procedures Guide. Refer to Where can I find the Year-End Procedures Guides (YEPG)?

Note: Beginning with reporting year 2020, there will be changes to the 1099-MISC form as well as the addition of the new form 1099-NEC. Refer to Will the new 1099-NEC (Nonemployee compensation) for 2020 be available in Accounts Payable?



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