You use this program to print 1099 labels.
Although they are called labels, they are actually documents that are used in the USA to report miscellaneous income to the Internal Revenue Service.
Each time you pay a supplier for goods or services, the payment value is accumulated. At the end of the year you print a 1099 label displaying the total payments that you have paid to the supplier and this gets sent to the Receiver. The Supplier then has to submit some form of documentation to the Receiver showing how much money he has been paid. In this way the Receiver will tally the 1099 label with the documentation submitted by the supplier in order to evaluate whether a supplier is declaring all the money that he has been paid.
| Field | Description | ||||||
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| Label sequence |
Indicate one of the following sequences in which to print the 1099 labels.
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| 1099 Format |
This indicates the A/P 1099 Label Format number that you want to use to print the labels. These formats are stored in the A/P Supplier 1099 Format file. When adding a new supplier you must define the A/P 1099 Label Format number if you want to print 1099 labels for this supplier (Suppliers). |
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| Format | Indicates the A/P 1099 Label Format number to use to print the labels. It defaults to 00 but you can define up to 100 different 1099 label formats (00 to 99). | ||||||
| Define Format | Select this to use AP 1099 Label Format program 1099 Label Format program to define a new format, or modify an existing format. | ||||||
| Description | The description for the selected format is displayed in this field. | ||||||
| Minimum YTD payment | The Minimum YTD payment value for the selected format is displayed for reference purposes only. | ||||||
| Supplier selection | Indicate the supplier(s) for which you want to generate the labels. | ||||||
| Labels to print |
When creating the format, you allocate a value under the Preferences section, but you can override this at the time of printing the labels. |
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| Labels per supplier |
Indicates the number of labels that must be generated for each supplier. Up to 9999 labels can be printed for each supplier. This defaults to 1. |
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| 1099 Tax year |
Indicates whether to print 1099 labels for the Current Year or for the Previous Year. Accumulated gross payments can also be printed for the current or previous year. Previous year amounts are generated when you select the Set 1099 accumulated gross payments to zero, in the (AP Period End) program.
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| Supplier class selection | Indicate the supplier class(es) for which you want to generate the labels. | ||||||
| Alignment | Select this to print a label using test characters to verify that your labels are correctly aligned on your stationery. | ||||||
| OK | Select this to print the test format alignment. | ||||||
| Cancel | Select this to return to the previous screen without printing an alignment. | ||||||
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Select this to generate the labels according to your selections. A 1099 Label is printed only if the supplier meets the following conditions:
The program then does a check on the Minimum YTD payment values, using the following logic:
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| Close | Select this to exit the program without generating any labels. |
| Option | Description |
|---|---|
| Bank selection | Indicate the supplier bank(s) for which you want to generate the labels. |
| Branch selection | Indicate the supplier branch(es) for which you want to generate the labels. |
| Geographic area selection | Indicate the supplier geographic area(s) for which to generate the labels. |
| Currency selection | Indicate the supplier currency(ies) for which to generate the labels. |