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1099 Overview

Form 1099 is a form promulgated by the Internal Revenue Service and is used in the United States Income Tax System to prepare and file information return to report various type of income other than wages, salaries and tips (for which form W2 is used instead).
Each payer must complete a 1099 for each covered transaction. Three copies are made one for he payer , one for the payee and one for the IRS.
US Tax law requires business to submit a Form 1099 for every contractor paid at least $600 for service during a year. This requirement usually does not apply to corporations receiving payments.
Many business and organizations must file thousands of 1099s per year. Thus payers who file 250 or more Form 1099 reports must file all of them electronically or magnetically with the IRS. The 250 or more requirement applies separately for each type of return and separately for each type of corrected return. Even though filers may submit 249 information returns on paer, the IRS encourages files to transmit returns electronically.
If the less than 250 or more requirement is met, and paper copies are filed, the IRS also requires the payer to submit a copy of form 1096. The 1096 is a summary of information forms being sent to the IRS. You need one 1096 for each type of information form you have issued.
Payees use the information provided on the 1099 forms to help them complete their own tax returns. In order to save paper, payers can give payees one single Combined Form 1099 that lists all of their 1099 transactions for the entire year. Taxpayers are usually not required to attach Form 1099s to their own Federal income tax returns unless the Form 1099 includes a report for Federal income tax withheld by the payer from the related payments.
several versions of Form 1099 are used, depending on the nature of the income transaction:
1099-A: acquisition or Abandonment of Secured Property
1099-B: Proceeds from Broker and Barter Exchange Transactions
1099-C: Cancellation of Debt
1099-CAP: Changes in Corporate Control and Capital Structure
1099-DIV: Dividends and Distributions
1099-G: Government Payments
1099-H: Health Insurance Advance Payments
1099-INT: Interest Income
1099-LTC: Long Term Care Benefits
1099-MISC: Miscellaneous Income
1099-OID: Original Issue Discount
1099-PATR: Taxable Distributions Received From Cooperatives
1099-Q: Payment from Qualified Education Programs
1099-R: Distributions from Pensions, Annuities, Retirement Plans, IRAs, or Insurance Contracts
1099-S: Proceeds from Real Estate Transactions
1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA
1042-S: Foreign Person’s U.S. Source Income
SSA-1099: Social Security Benefit Statement
SSA-1042S: Social Security Benefit Statement to Nonresident Aliens
RRB-1099: Payments by the Railroad Retirement Board
RRB-1099R: Pension and Annuity Income by the Railroad Retirement Board
RRB-1042S: Payments by the Railroad Retirement Board to Nonresident Aliens
W-2G: Certain Gambling Winnings
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Oracle Advanced Collections

Q ) What is Oracle Advanced Collections ?

Ans) Oracle Advanced collections is the module which deals primarily with collection of your accounts receivable from the customers. Companies sell to customers on credit and these invoices become due as per the invoice terms. Typically you may specify Net45, which means 100% of the invoice amount is due in forty five days from the date of invoice.

However for some reasons the invoice is not paid on time. Some of the reasons could be invoice not sent to the customer, Invoice wrongly billed, Customer does not have funds or become bandrupt, customer does not agree with invoice amount/terms , invoice sent to the wrong address.

Most companies have billers and collectors managing the AR department. Billers are the first level contracts and they contact the customer to collect these outstanding amounts. The contact method may be mail, email, fax or phone call depends on their company terms.

Oracle AR initially had dunning letters functionality to remind the customers of their dues. The dunning level could be adjusted from a gentle reminder to collections advisory.

When the billers are not able to collect the amounts, the cases get transferred to collectors or at a later date to third party agencies for specialized in collection.

However the functionality was limited in scope which did not meet the modern day requirements. Once has built lot of functionality around Advanced Collections to automate the collection process. Advanced collections was a work bench in Receivables which now become a full fledged module with lot of features and automation.

What are the compones of Advanced Collections?
The key components of advanced collections are Collectors/Territories, Scoring Engine, Universal work queue/collectors work queue, Interaction History, Notes Set up,Dunning/Strategies, fulfillment/xml communication.

Scoring
Scoring calculates a score value for an object in the database. You can score following types of objects seeded in collections, or you can create new scoring objects.

Party, Account, or Bill To : The operational data level at which you do business with your customers.

Transaciton: A transaction created in Oracle Receivables, or originating in Oracle.

Loans or Oracle lease management. When determining delinquency status of transaction, Oracle collections creates a delinquency in a collection table. When a transaction is no longer delinquent, the status becomes current.

Case: A group of leasing contracts for a customer sharing the same bill to address, a private label and other contract parameters. Case only applies if you use Oracle lease management.

Concurrent Programs

The scoring engine harness concurrent program runs from one to five scoring engines. In addition, you can add a concurrent program to scoring engine, and when the scoring engine is run by the score engine harness concurrent program, the related concurrent programs also runs. For example you can add the strategy management concurrent program to assigns collections strategies based on the score results.

Scoring Components

The scoring component uses a select statement or a function to return a score value. For
Example, you can ask for the total number of delinquencies for a customer or how long a
Customer has been doing business with your company. Every scoring engine must have
at least one scoring component.
The values calculated by a scoring component are then assigned scores. Score range
numbers can be positive or negative numbers to two decimal places, and must account
for numbers from -99,999,999 to 99,999,999.. In Oracle Collections a higher score is
generally considered good and a lower score is considered bad.

You may have several Scoring components on which to score. For example some of the
components could be: Customer for ….Years, No of Delinquencies, Amt Outstanding,
Amt Overdue.
You will assign different weights to different components. You use Filters to limit the
scope of a scoring engine. Like you want to score transactions from a state, zip code.
You can use scoring engine to score transactions which will determine the status of
transactions delinquent, pre delinquent, Current, Overdue.
You could use another scoring engine to score customers / Account /Bill To.
A scoring engine harness might include both these scoring engines.

Preconfigured Scoring Engines

Preconfigured Scoring Components

eg:

The following tables describe the preconfigured scoring components for use with scoring engines.

Aging bucket line for account

Description : Identifies the oldest aged transaction for the account.

Object : Account

Type Value : Selects nvl(max(abl.bucket_sequence_num),0) from ar_Aging_buckets ab,ar_Aging_bucket_lines abl, IEX_App_preferences_vl iex, ar_payment_schedules arp, IEX_Delinquencies del where abl.aging_bucket_id =ab.aging_bucket_id and ab.bucket_name=iex.preference_value and iex.preference_name=’DUNNING PLAN AGING BUCKET’ and DEL.Payment_schedule_id=arp.payment_schedule_id and (sysdate-arp.due_Date)between abl.days_start and abl.days_to and del.cust_account_id=:account_id

Function : N

Previous Name : Account Aging Bucket Line.

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Item Instance Movement Tracking

Oracle Installed Base can track an item instance from the time that it is received in inventory, in work in process, in projects, at customer sites, and throughout the return and repair process.


Item Instance Attribute Change Tracking
Oracle Installed Base is a centralized repository of information for an item instance and its tracking details including location, status, ownership, party role, and contact relationships. It also supports the creation and maintenance of Oracle Installed Base configurations.
Counters can be tied to item instances so that usage can be captured. For example, if an item instance is an electrical meter, then counters can be used to store the meter reading, thus recording the usage that in turn generates revenue.

History of Item Instance Changes
Oracle Installed Base records a history of changes to item instances.
For each item instance in Oracle Installed Base, a history of transactions is tracked and stored. Given a particular time frame, these transactions and the state of the attributes during that time can be viewed.
The transaction history includes a list of inventory, work in process, order management, and other transactions affecting an item’s tracking attributes.
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R12 Installed base Setups

 All All the functionalities of installed base module can be accessed with Installed Base User responsibility. And to access the’ Installed Base User’ responsibility’ the user must be assigned to CSI_NORMAL_USER role.
Follow the below setups to assign the required roles to Installed Base Users

1. Login to the instance with sysadmin user and select CRM HTML Administration responsibility
2. Navigate to Setup : Users : Registration: user Maintenance
3.  Query the user name, click on the hyperlink for the user
4.  Add the CSI_NORMAL_USER role. Update.
The responsibility “Install Base User” is obsolete in Release 12.  The new responsibility is called ‘Oracle Installed Base Agent User’
Notice that the Role assignment via CRM HTML administrator is for Oracle Installed Base User responsibility (ie. JTT page). Oracle Install Base Agent User responsibility is a new one in R12.

Profile Options
 The Important Profile Options which needs to be set at the site level are
Service: Inventory Validation Organization
CSI: Default Instance Status

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Installed Base in R12


Oracle Installed Base is an item instance life cycle tracking application that facilitates enterprise-wide life cycle item management and tracking capability.
You specify which items you want to track in the Master Item list in Oracle Inventory. Subsequently, when a particular real-world instance of the item is created, an item instance record is created in Oracle Installed Base. Any significant changes to the item instance will also be recorded in Oracle Installed Base.

Tangible Items
Item instances can be used to track tangible items, that is, physical, real-world objects, that can be assembled and shipped, such as computers, engines, machine parts, and so on.
Intangible Items
Item instances can be used to track intangible items such as software, services, licenses, and agreements. For example, a telephone number can have different services such as call waiting and conference call. These can all be defined and tracked as components of the telephone service.
Serialized Items
When a trackable item is defined in Oracle Inventory as serialized, each item instance derived from that item requires a unique serial number and individual tracking. The item instance will always have a quantity of 1.
Non-Serialized Items
When a trackable item is defined in Oracle Inventory as non-serialized, it is typically for smaller objects whose real-world instances do not require individual tracking. For example, a screw could be defined as a non-serialized, trackable item; an order for 100 screws would result, after order shipping, in the creation of one item instance, with  quantity 100.
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