Need 1099 Reporting For Disbursements (Doc ID 1352530.1)

Last updated on FEBRUARY 02, 2017

Applies to:

Oracle Loans - Version: 12.1.3 and later   [Release: 12.1 and later ]
Information in this document applies to any platform.

Goal

Since Loan disbursements are being sent to AP as parties and not supplier, there is no link between the disbursement record and the supplier record for 1099 reporting. Is there a way to do 1099 reporting in Loans, or flag disbursements as 1099 reportable?

For example, we create a disbursement for a loan to a contractor who is going to do work on home construction. This disbursement is 1099 reportable. How do we generate a 1099 for this disbursement?


Solution

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