Report - 1099 Invoice Exceptions

Description

Purpose

Use the 1099 Invoice Exceptions report to review paid invoice distributions with inaccurate or missing 1099-MISC income tax information. Before you run 1099-MISC reports, you should run the 1099 Invoice Exceptions report to identify any invoice distributions that accounts payable (AP) will treat as exceptions in the 1099-MISC reports.

Note: This report contains four types of exceptions:

You should ignore the last two exceptions on the above list because the Research Foundation doesn't use this information at this time.

Frequency

The report should be run as needed and before the 1099-MISC forms are printed in January.

Responsibilities with Access

Setting Report Parameters

The following table describes the required parameters to use to run the report:

Parameter

Description
(click in the field to see the List of Values)

Required Parameters

Reporting Entity

Enter the tax reporting entity.

 

Note: This field defaults to Research FDN of SUNY and this is the only option.

Start Payment Date

Enter the start date of the report based on the payment date.

End Payment Date

This field defaults to the current date.

Understanding the Output

The table that follows describes the report output:

Column Heading

Description of Column

Supplier Name

The name of the supplier in the Supplier File.

Supplier Number

The system-generated supplier number.

Invoice Number

The AP invoice number assigned during invoice entry.

Invoice Date

The date on the invoice from the supplier.

Invoice Amount

The total dollar amount of the AP invoice.

Line Number

The number of the invoice distribution line.

Line Amount

The dollar amount per invoice distribution line.

Income Tax Type

The supplier's income tax type as entered in the Supplier File.

 

For Example: MISC2, MISC3, MISC7

Helpful Tips

Effective Date: 5/23/2007 9:56:28 AM