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Are ACI payments in Accounts Payable 1099 reportable
Are ACI payments in Accounts Payable 1099 reportable
- Knowledge Assistant
Owned by Knowledge Assistant
Jan 15, 2025
1 min read
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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