R12:AP: 1099 Payments Report Incorrectly Calculates The Payment Total For Retainage Invoices
(Doc ID 2504009.1)
Last updated on DECEMBER 04, 2019
Applies to:Oracle Payables - Version 12.2.4 and later
Information in this document applies to any platform.
The 1099 Payments Report incorrectly subtracts the retainage amount twice from the amount reported.
It is taking the invoice amount, less retainage = Distribution amount, and then calculating retainage a second time on the distribution amount to arrive at the Payment Amount.
The payment amount should be the same as the distribution amount.
Invoice Amount $1000.00
Distribution Amount $1000.00 - ($1000.00 X .05) = $950.00
Payment Amount on Report $950.00 - ($950.00 X .05) = $902.50
The amount of the 1099 Payments Report should be the distribution amount $950.00 not $902.50.
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