on 01-20-2015 8:05 PM
There are no instructions for printing of the vendor 1099 misc forms nor the step by step instructions once the forms are printed to upload the forms to the IRS and State. Someone else performed this for me last year and I have no assistance this year.
Hello Rose,
You can create tax return run and select the Tax Return Arrangement ID which is set up for the 1099 Misc forms.
Steps :
Tax Management work center
Withholding tax return runs view
Click on New and select Tax return run
Provide the details and enter the Tax return arrangement ID which is set up for 1099.
Click on Set to active
schedule the run
Once the run is complete, you will find the tax return available under :
Tax management work center
Withholding tax return view
Please note that
in order for the system to properly generate a tax return for 1099 reporting, there are settings in your master data that need to be made.
The below master data objects carry attributes that are specific to Withholding tax:
If the supplier invoice does not have a product ID assigned to it, the Withholding tax code is not populated automatically. You can, however, maintain a Withholding Tax Code in the Supplier's master data, in the Withholding tax Classifications section, field Withholding Tax Income Type. The information maintained here is then defaulted to the supplier invoice when no product ID is selected.
After posting and paying the invoice, you can go to the Tax Management work center and open the Withholding Tax Item report. The report display all payments relevant for withholding tax for a specific period. The display includes the underlying invoices, the withholding tax amounts, and the tax base amounts relating to each payment.
Note that this setup is valid from the date that you do the changes. In case you have not classified your supplier as being relevant to withhold taxes, the tax amount would not be accounted with the invoices. The amount, however, can be entered manually as a Manual Tax Entry. Please, refer to the SAP Business ByDesign Help Document Withholding Tax Base Amount Entries Quick Guide.
Please mark this thread as answered if this resolves your concerns.
Let me know if you need further clarifications / Details.
Regards,
Harshal
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.
Harshal,
We've run into a similar issue trying to complete the 1099 process. In our case, we were able to print the 1099 Copy B for the supplier, however, we can't seem to find a way to print Copy A for the IRS. Unfortunately we are not setup to submit electronically at this time so printing seems to be the only option. Do you have any recommendations?
Thanks,
Greg
User | Count |
---|---|
89 | |
8 | |
7 | |
4 | |
4 | |
3 | |
3 | |
3 | |
3 | |
3 |
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.