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01. PROGRAM OVERVIEW

Under US law, US-based companies must submit to the government a report containing all payment information made in a calendar year. This report must be in a legal format called form 1099. The 1099 Transaction Report must only be generated when the payment amounts for the calendar year are greater than a certain amount set by legislation per supplier within the period from January 1 to December 31.

This feature allows you to register types of transaction 1099, which will be handled by the system. Currently the US tax legislation provides for the treatment of the following types of transactions: Income, Copyright, Other Revenue, Withholding Income Tax, Fishing and Boat Income, Medical and Health Care Payments, Non-Employed Compensation, Substitute Payments, Insurance Company Revenue, Overpayments, Gross Income Paid to Lawyer, State Withholding Tax and State Revenue.


Transaction Maintenance Base 1099


Purpose of the Screen:Allow maintenance of types of transaction 1099, which will be handled by the system.


Other Actions / Related Actions:

Action:Description:
AddAllows access to the Types of Transaction 1099 inclusion window


Addition of Types of Transaction 1099


Purpose of the Screen:Allow registering types of transaction 1099, which will be handled by the system.