Form 1099 Composite
The Form 1099 Composite Skill extracts key data from Form 1099 Composite documents. A 1099 Composite is a consolidated statement listing multiple 1099 Forms that have been issued by a financial institution to the taxpayer. Most often the forms listed together on 1099 Composite are Forms 1099-DIV, 1099-INT or 1099-B.
The Form 1099 Composite Skill has been trained on a smaller set of documents. The most important data fields are defined and labeled. Customers can use this skill as a starting point to label additional required fields, for further training the skill based on incoming documents, or to adjust business rules to their own requirements.
Benefits
- Framework Document Skills provide a quick-start basis for conducting proof of concept and automating document-centric processes, without wasting time to train a new skill from the ground up. In most Framework Skills the main data fields have been labeled and the skill has been trained on a small document set to provide a starting point for further training on customer side. Framework Skills generally come at no additional cost, but consume page volume from the base Vantage Core Skills volume.
- The trained model automatically detects all fields on 1099 Composite forms and extracts data including taxpayer and recipient name, address, TIN, and corresponding data from the included individual 1099 forms.
- Business rules to validate, normalize or cross-check data can be added as required.
- Incorporate human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
- Start with the 1099 Composite framework skill and continue to train on your documents and easily connect into your business processes.
Contributor: ABBYY
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