Accounts Payable > Reports > AP 1099 Label Print

AP 1099 Label Print

You use the AP 1099 Label Print program to print 1099 labels.

Although they are called labels, they are actually documents that are used in the USA to report miscellaneous income to the Internal Revenue Service.

[Note]

The 1099 Label programs are available only if the nationality code of your installation is defined as USA. (System Setup - General tab).

Each time you pay a supplier for goods or services, the payment value is accumulated. At the end of the year you print a 1099 label displaying the total payments that you have paid to the supplier and this gets sent to the Receiver. The Supplier then has to submit some form of documentation to the Receiver showing how much money he has been paid. In this way the Receiver will tally the 1099 label with the documentation submitted by the supplier in order to evaluate whether a supplier is declaring all the money that he has been paid.

Report Options

Field Description
Label sequence

This enables you to indicate the sequence in which you want to print the 1099 labels.

The available sequences are:

  • Supplier (i.e. Supplier code)
  • Short name (i.e. Supplier short name)
1099 Format

This indicates the A/P 1099 Label Format number that you want to use to print the labels.

These formats are stored in the A/P Supplier 1099 Format file.

When adding a new supplier you must define the A/P 1099 Label Format number if you want to print 1099 labels for this supplier (Supplier Maintenance).
Format This indicates the A/P 1099 Label Format number that you want use to print the labels. It defaults to 00 but you can define up to 100 different 1099 label formats (00 to 99).
Define Format Select this to use AP 1099 Label Format 1099 Label Format program to define a new format, or modify an existing format.
Description The description for the selected format is displayed in this field.
Minimum YTD payment The Minimum YTD payment value for the selected format is displayed for reference purposes only.
Supplier selection This enables you to indicate the supplier(s) for which you want to generate the labels.
Labels to print

This option enables you to define the number of labels to print for each supplier.

When creating the format you allocate a value under the Preferences section. You can override this at the time of printing the labels.
Labels per supplier

This indicates the number of labels that must be generated for each supplier.

Up to 9999 labels can be printed for each supplier.

This field defaults to 1.
1099 Tax year

This indicates whether you want to print 1099 labels for the Current Year or for the Previous Year.

Accumulated gross payments can also be printed for the current or previous year. Previous year amounts are generated when you select the Set 1099 accumulated gross payments to zero, in the (AP Period End) program.

Option Description
Current Select this if you want to print 1099 labels for the current year.
Previous Select this if you want to print 1099 labels for the previous year.
Supplier class selection This enables you to indicate the supplier class(es) for which you want to generate the labels.
Alignment Select this to print a label using test characters to verify that your labels are correctly aligned on your stationery.
OK Select this to print the test format alignment.
Cancel Select this to return to the previous screen without printing an alignment.
Print

Select this to generate the labels according to your selections.

A 1099 Label is printed only if the supplier meets the following conditions:

The program then does a check on the Minimum YTD payment values, using the following logic:

  • If, against the supplier (Supplier Maintenance), you have not ticked the option Override minimum YTD payment option, then the AP 1099 Label Print program compares the Accumulated 1099 payments field for the selected year to the Min YTD payment value defined against the format.

    If the value is > or = to the format value, then a 1099 Label is printed for the supplier.

  • If, against the supplier (Supplier Maintenance), you have ticked the option Override minimum YTD payment option and entered a Min YTD payment value, then the AP 1099 Label Print program compares the Accumulated 1099 payments field for the selected year to the Min YTD payment value defined against the supplier.

    If the value is > or = to the format value, then a 1099 Label is printed for the supplier.
Close Select this to exit the program without generating any labels.

Other Options

The following selection criteria can be defined:

Option Description
Bank selection This enables you to indicate the supplier bank(s) for which you want to generate the labels.
Branch selection This enables you to indicate the supplier branch(es) for which you want to generate the labels.
Geographic area selection This enables you to indicate the supplier geographic area(s) for which you want to generate the labels.
Currency selection This enables you to indicate the supplier currency(ies) for which you want to generate the labels.

Print 1099 labels

  1. From the AP 1099 Label Print program, select the options you require.

  2. Optionally select the Alignment function to ensure that the labels are correctly aligned on the printer.

  3. Select the Print function to generate the labels according to your selections.