AP-TN004 Accounts Payable 1099 Exceptions Report

Report Name
Accounts Payable 1099 Exceptions Report

RMDS Report Group
1099-1 AP 1099 REPORTS

Frequency
Normally once a month

Records/Retention Requirements
ITEM 43055.  Accounts Payable 1099 Exceptions Report (AP-TN004).  Material management production activity.

DISPOSITION INSTRUCTIONS:  Destroy in office after 7 years and upon release from audits.

Use
This report can be used to determine which 1099 totals will not be reported to the IRS.

Content
This report lists accumulated 1099 totals that will not be reported to the IRS. Reporting is not required when the accumulated income (dividends, interest, or miscellaneous) is negative, nets to zero, or is less than the amounts specified by law.

Totals
The report shows the total number of payees excluded by form (dividends, interest and miscellaneous).

Column Headings

• VENDOR NAME
• VENDOR NUMBER
• PAY ENTITY
• EXCEPTION MESSAGE