Vendor Income (VINC)

Vendor Income (VINC) shows amounts you must report under IRS 1099 guidelines. The amounts are broken down by calendar year, return type, vendor, and income type.

Lines are updated or new lines are added when reportable expenditures are entered into the system on a manual warrant document or when automated disbursements is run. An expense is considered reportable if the 1099 Indicator is Yes [Y] on Vendor (VEN3) for this vendor and it is associated with an object which has a 1099 type on Object (OBJ2). In addition, if a vendor refund is entered on a cash receipt document and the expense was reportable, the expended amount on this window is decreased by the amount of the refund.

Journal vouchers do not update the information in this window. If you enter a reportable expense on a journal voucher document, you need to update the information in this window manually. Similarly, if you use a journal voucher to record a decrease to an expense which was reportable, you should update the information in this window manually.


Calendar Year	Key field. Enter the calendar year to which the reported amounts apply.
Type of Return	Key field. Enter the type of return associated with this vendor income record. Valid values are: 1099-MISC [M] 1099-INT [I] 1099-G [G] 1099-S [S]
Taxpayer ID Number	Key field. Enter the federal taxpayer ID number for the vendor.
TIN Type	Key field. Enter the TIN Type for the record Valid values include: 1 - FEIN 2 - SSN
Vendor	Key field. Refer to Vendor Index (VEND) for valid values.
Type of Income	Key field. Enter the type of income associated with this vendor income record. Valid values are: For 1099-MISC Returns Rents [01] Royalties [02] Prizes and Awards [03] Fishing Boat Proceeds [05] Medical & Health Care Payments [06] Non Employee Compensation [07] Substitute Payments in Lieu of Dividends & Interest [08] Direct Sales of Consumer Product for Resale [09] Excess Golden Parachute Payments[13] Gross Proceeds Paid to Attorney [14] For 1099-INT Returns Interest Income [01] Early Withdrawl Penalty [02] Interset on U.S. Saving Bonds and Treasury Obligations [03] Investment Expenses [05] Foreign Tax Paid [06] For 1099-G Returns: Unemployment Compensation [01] State or Local Income Tax Refunds, Credits, or Offsets [02] Qualified State Tuition Program Earnings [05] Taxable Grants [06] Agricultural Payments [07] For 1099-S Returns: Gross Proceeds [02]
Calendar Year Report Amount	Display only. The year-to-date amount that is reportable to the IRS is displayed. If the reported amount needs to be changed, process a correction transaction for this vendor income record on Vendor Income Correction (VIC2).
Original Amount	Display only. This field indicates the reportable amount posted to Vendor Income (VINC) for the original record before any corrections have been made. If 0.00, this vendor income record has not yet had 1099 processing applied.
Type of Correction	Display only. This field indicates what type of correction has been made to this record. Valid values are: One [01] A correction has been made which impacts the corresponding Original 1099 Information (TINF) record as an amount change. Two [02] A correction has been made which impacts the corressponding Original 1099 Information (TINF) record as a Taxpayer ID Number (TIN) change. Three [03] A correction has been made which impacts the coressponding Original 1099 Information (TINF) record as a Type of Return change. For more information, refer to the User's Guide.
Report Indicator	Display only. This field indicates the processing status for this vendor income record. Valid values are: [blank] 1099 Processing has not been applied on the record. [F] 1099 Processing in Forms mode has been applied on the record. [M] Magnetic media has been generated. [C] Record has been corrected after magnetic media has been generated. [D] Duplicate form is required and no corrections have been made. [N] This is a new record which has been added when processing a correction transaction. For more information, refer to the User's Guide.