Reporting Entities
A reporting entity is any person or organization with a unique tax identification number. Oracle Fusion Payables uses reporting entities for United States (US) 1099 reporting.
Primary Balancing Segment Values
For each reporting entity of an invoice business unit, assign one or more primary balancing segment values. Typically primary balancing segment values represent different legal entities.
For example, you define a reporting entity called Headquarters, which comprises companies 1, 2, and 3. Each company is represented by a primary balancing segment value. When you submit a US 1099 report, you specify Headquarters for the reporting entity parameter. The report accumulates payments for companies 1, 2, and 3, and sums up the paid invoice distributions that have the companies balancing segment values.
Reports
You can submit the following US 1099 reports for a specific reporting entity:
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US 1096 Report
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US 1099 Report
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US 1099 Invoice Exceptions Report
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US 1099 Supplier Exceptions Report
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US 1099 Payments Report
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US 1099 Electronic Media Report