Form 1099 electronic reporting - ability to handle 1099 records for Foreign Addresses in ACP (AGS-10995)

Benefits

  • Maximize the ability to comply with regulatory reporting and filing requirements.

  • Reduce time and effort to comply with regulatory reporting and filing requirements.

Details

Now you are able to provide foreign addresses for 1099 electronic processing.

Setup

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Step

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Step

1.

In the NAM (Name and Address package) provide a foreign address for a selected Name Id.

  • In the Country field, you can either type something in or press on the magnifying glass to select from a list of countries.

 

Usage

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Usage for Accounts Payable (ACP)

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Usage for Accounts Payable (ACP)

1.

For Accounts Payble (ACP), go to ACP > Account Processing > 1099 Electronic Reporting > Next.

  • The Check Foreign Address ? will be set to N by default. When set to N the (Foreign Country Indicator on the B record) will always be blank.

 

  • If Check Foreign Address ? is set to Y and the country field has a foreign address, then the (Foreign Country Indicator on the B record) will show 1.

  • If Check Foreign Address ? is set to Y and the country field is filled with the options below, then the (Foreign Country Indicator on the B record) will always be blank.

    • US

    • U.S.

    • USA

    • U.S.A.

    • United States

    • Blank