RE: Creating a new tax reporting entity for 1099 -- suggestions please
Currently, we have only one tax reporting entity. Accounting wants to create another entity for the reporting purpose. Based on my reading the user's manual, I do not see any problem to accommodate that.
But I would like to get an expert feedback about the reporting. As you know this is a tax season and we do not want to mess the existing setup up.
Currently, the setup is as follows
A.
Main Entity has two balancing segments, which are 01 (company A), and 02 (company . Even though we have more than two company segments in the application.
The existing example is as follows. We have one invoice where the distribution lines consist of segments 01,02,03,04.