Using UDC 01|07 1099 Reporting Codes for other voucher tracking
Does anyone use the 1099 UDC table for other purposes?
In Canada, we have a new federal reporting requirement similar to IRS 1099 effective for May 2016. We were hoping to leverage the 1099 UDC table to flag reportable AP voucher transactions.
Is there any reason we should not add custom codes to the UDC table? We also generate 1099 for our US company, so the table is also being used for its intended purpose. Does annual ESU applications rebuild the table or add on? Do we run the risk of losing our custom UDC's or adversely affecting 1099 generation?
Appreciate any input!
Keri