AP 1099 Types Form
Use the AP 1099 Types form to set up 1099 types for tracking payable amounts that are subject to 1099 reporting.
There are several standard 1099 types defined by the IRS (some examples are MISC, DIV, NEC, and INT). Vista™ provides the standard “MISC” 1099 type, and you must set up any others that your company uses.
Important: For filing purposes, the system includes totals accumulated only under 1099 types “MISC”, “INT”, “NEC”, and “DIV”. Therefore, make sure you assign the appropriate 1099 type to all applicable transactions in the AP Transaction Entry form.
Note: When processing 1099s, the form type determines what application you must use. If you need to e-file and/or print Forms 1099-MISC, DIV, or INT, you must use Aatrix. If you need to e-file Form 1099-NEC, you can use Aatrix or Vista; however, if using Vista, you can only generate the e-file and save it locally for submission to the IRS..
If you are only using 1099 types for informational or reporting purposes, and not for filing, any type is acceptable.
Once you set up your 1099 types here, you can assign the appropriate 1099 type to each vendor with the Subject to 1099 reporting check box select in AP Vendors, and then indicate which box will be used to accumulate the 1099 amounts. You can override the 1099 type by transaction in the AP Transaction Entry form.
