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Groups Prerequisites

Use groups to create an association that indicates the federal tax identification under which 1099 amounts are reported. The association you want to create is between invoices paid for PropertiesCompanies and a company that must file a 1099 report on the details of the transactions.

To create the association, add at least one 1099 Property Group that associates one or more PropertiesCompanies that share one company/federal tax identification number. When the 1099 process is run, the 1099 information is gathered, categorized, and placed in a transmitter-related file.

ClosedGroups

Use the Groups Tab to set up one or more 1099 PropertiesCompanies groups. This group is associated with a federal tax identification via the company table.

ClosedPropertiesCompanies

Use the Groups Tab for PropertiesCompanies to associate each PropertyCompany with a 1099 PropertyCompany group.

ClosedExample

Set up the group YEG1. Associate all of the PropertiesCompanies that share one company/federal tax identification with this group.

Set up the group YEG2. Associate all of the PropertiesCompanies that share a second company/federal tax identification with this group.

See Also

Vendor Prerequisites 1099 Processing

1099 Process Prerequisites

 

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