1099 Process Flow
This diagram shows the process flow of the 1099 process:
In the 1099 process, verify that the company and suppliers information is available in the address book. You can run the Update YTD Voucher Amount (R04820A) process, this process is optional. Verify that the Mailing address format, legal and contact names, and tax ID and person or corporation codes are in appropriate format in the address book. You also need to check for any duplicate tax ID. For example, two people can have the same tax ID, but same person cannot have two tax IDs.
Before you run the Write Media program, you must update the FATCA flag value information for Tax ID for suppliers that qualify for FATCA using the Work with Supplier Information program. See Working with Supplier Information for FATCA
You can run through the 1099 process by using either the G/L (General Ledger), or A/P (Accounts Payable) method, or combine both the G/L and A/P methods.
To run the 1099 process by using the G/L method, you need to set up the Automatic Accounting Instructions (AAIs) and for the A/P method, you need to set up user-defined codes (UDCs).
In the G/L method, you make adjustments using the Adjustments application and then run the build program to generate the workfile. In the A/P method, you run the Build Workfiles program, and then make any adjustments.
To populate the corresponding workfiles, run the Build Workfile program for both A/P and the G/L methods. If you need to make adjustments after running the Build Workfile program, you need to run the adjustment program.
Combined Register displays the details for both the A/P and the G/L workfiles, consolidates the data, and populates it in the combined workfile. From the combined workfile, you can print the 1099 forms and create text files for electronic filing. Later, you can clear the workfiles.