The Type field on the AP 1099 Edit Transactions form.
This field defaults the 1099 form type for this vendor, as specified for the transaction in the AP Transaction Entry form. you may change this field if applicable.
If this transaction’s amount is to be included for filing purposes, use a 1099 type of “MISC” (Miscellaneous Income), “INT” (Interest Income), “NEC” (Non-employee compensation), or “DIV” (Dividends/Distributions).
If you're using using 1099 types for informational or reporting purposes only, and not for filing, any type is acceptable.