SECTIONS
To report on transaction details of payments to 1099-reportable vendors, the following packages must be installed in your organization:
- Accounting Versions 9.0.4, 10.1 or later
- Export 1099-MISC Payments Data
- Transaction Details for 1099 Reporting
The Transaction Details for 1099 Reporting report will be installed into the Reports, 1099 Details folder.
Vendor Accounts
For vendor accounts that are 1099 reportable:
- Select the Federally Reportable 1099 checkbox.
- Specify the Income Tax Type that will apply.
See Custom Account Fields for more details.
If the legal name that you want to appear on Form 1099-MISC differs from your Salesforce Account name, add the Account Legal Name field to your Account detail page layout. See "Customizing Page Layouts" in the Salesforce Help for more information.
Product and General Ledger Account names
The Transaction Details for 1099 Reporting report displays details of the general ledger accounts and products used on the payable invoice transaction lines. By using product and general ledger account names that are meaningful for 1099 purposes, such as Consultancy and Training, you will facilitate easy identification of 1099 reportable items.
Dashboards and Reports
Enable the Dashboards and Reports User Interface:
- Click Customize | Dashboards and Reports | User Interface.
- Select the Enable checkbox.
- Click Yes, Enable Report Builder for All Users.