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Are ACI payments in Accounts Payable 1099 reportable

Are ACI payments in Accounts Payable 1099 reportable

Owned by Knowledge Assistant
Jan 15, 2025
1 min read
Description of Issue

Are ACI payments in Accounts Payable 1099 reportable?

Context

Accounts Payable

1099

Cause

New functionality

Resolution

ACI payment method invoices are not included in the 1099 detail and cannot be added.  The bank pays the vendor, and per the IRS, the bank or merchant acquiring entity is responsible for issuing a Form 1099-K to the payee.

Additional Information

IRS 1099-K









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