Create a distribution type for 1099-INT and update form printing and electronic reporting (AGS-24182)

Benefits

AGRIS now has an additional 1099 distribution type to indicate that the voucher should be reported on the 1099-INT forms. This, and the other changes described below, simplifies 1099 reporting so the user has greater control over which vouchers are included in form printing and electronic reporting.

Description

Setup

ACP > Setup Information > Voucher Types

AGRIS now has a distribution type 5 to explicitly indicate that a voucher is to be reported on the 1099-INT form. Existing voucher types must be modified in order to now be included in 1099-INT reporting.

Open

Print Forms

ACP > Account Processing > Print 1099 Forms

Vouchers will only be included in the totals if the distribution type is set to “5) Interest (1099-INT).”

Electronic Reporting

ACP > Account Processing > 1099 Electronic Reporting

There are three new field on the filter screen that allow the user to indicate whether or not to include data for each form type. At least one of these must be set to “Y” to continue. Each will default to “Y” unless there are no voucher types set up with a distribution type for that form.

Open

There is a message on the subsequent screen indicating what type of vouchers were selected on the previous screen so the user can confirm what will be included in the electronic file. Note: If the user selected only INT vouchers on the filter screen and then selects “1) 1099-MISC” as the 1099 Type, there will be no vouchers found.

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