1099 Type Invoice Reviewing
Each year prior to 1099 tax reporting our AP staff have to review every single invoice (we have about 100,000 of them) paid in the year to ensure the 1099 type is accurate. We know that the 1099 type is automatically brought in from the supplier record, but we share suppliers with another business unit. The business units do not always use the supplier for the same type of services so the 1099 type that gets assigned on the invoice is not always correct. There are also situations where one supplier may be used for different types of services which