What type of information is required for 1099 reporting in PCMS?
A. Accurate Budget Object Class Codes (BOCCs) and merchant information are required for the yearly generation of 1099 reports. Budget Object Class Codes and merchant information are used to help determine if a 1099 needs to be generated. As a cardholder, you can help ensure accurate 1099 reports by confirming that the appropriate BOCC has been assigned to each transaction and in the cases where merchant information is missing (such as convenience checks), supply accurate merchant names, addresses and Tax Identification Numbers.
