Long Business Systems, Inc. (LBSi)LBSI is a technology services firm that understands technology is a tool  that enables y...
1099 Setup and Reporting Agenda: o   Define 1099 Table o   Setup 1099 Boxes and Minimum Values o   Update Business Partner...
Define 1099 TableGo to: Administration > Setup > Financials < Define 1099 Tables   o   Specify required form types:       ...
Setup 1099 BoxesGo to: Administration > Setup > Financials < Define 1099 Tables    o   SAP provides Predefined codes for 1...
Default Vendor 1099 SettingGo to: Business Partners > Business Partner Data   o   Default selections pulled to each AP Inv...
Update AP InvoicesGo to: Purchasing A/P > AP Invoice   o   Specify / modify 1099 Form and Box:       o   Accounting tab:  ...
Enter Opening BalanceGo to: Administration > System Initialization > Opening Balances > 1099Opening Balances   o   Use to ...
Editing 1099 Information o    Before Payment      o   1099 Form and Box information can be changed      o   Go to: Purchas...
View and Print FormsGo to: Reports > Financials > Accounting > 1099/1096 Report   o   Select report type to review or prin...
Long Business Systems, Inc. (LBSi)Cleveland – Columbus – Cincinnati – Toledo - Pittsburgh – Philadelphia - Indianapolis   ...
Next Meetings: o    Tuesday, Feb. 22, 2011       o “10   Ways to improve your Purchasing Department”  o   Tuesday, Mar. 15...
Thank you for taking time to participate in the SAPBusiness One User Group Meeting.Please take a few minutes to respond to...
Long Business Systems, Inc. (LBSi)Cleveland – Columbus – Cincinnati – Toledo - Pittsburgh – Philadelphia - Indianapolis   ...
Upcoming SlideShare
Loading in...5
×

Sap business-one-1099-setup-and-processing

3,073

Published on

Learn how to setup and process 1099's in SAP Business One.
Slide Presentation from our January 2011 presentation to the LBSi Regional SAP Business One User Group.

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
3,073
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
34
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Sap business-one-1099-setup-and-processing

  1. 1. Long Business Systems, Inc. (LBSi)LBSI is a technology services firm that understands technology is a tool that enables you to grow profitably, outpace the competition, and provide better service to your customers. Cleveland – Columbus – Cincinnati – Toledo - Pittsburgh – Philadelphia - Indianapolis
  2. 2. 1099 Setup and Reporting Agenda: o Define 1099 Table o Setup 1099 Boxes and Minimum Values o Update Business Partner o Update AP Invoice o Enter Opening Balances o Print and Review Reports
  3. 3. Define 1099 TableGo to: Administration > Setup > Financials < Define 1099 Tables o Specify required form types: o 1099 INT – transactions related to loan interests o 1099 DIV – 2005 – transactions related to profits o 1099 MISC – general form for other transactions
  4. 4. Setup 1099 BoxesGo to: Administration > Setup > Financials < Define 1099 Tables o SAP provides Predefined codes for 1099 forms included o Double click on the row number to add or modify information in box table o Specify 1099 Minimum Values – vendors who do not reach this amount will not be reported
  5. 5. Default Vendor 1099 SettingGo to: Business Partners > Business Partner Data o Default selections pulled to each AP Invoice o Accounting Tab: o 1099 Form and 1099 Box o Federal Tax ID is required when making default selections
  6. 6. Update AP InvoicesGo to: Purchasing A/P > AP Invoice o Specify / modify 1099 Form and Box: o Accounting tab: o Default form and box displayed o Use drop down to select or modify
  7. 7. Enter Opening BalanceGo to: Administration > System Initialization > Opening Balances > 1099Opening Balances o Use to enter data from legacy system o Specify group/range of vendors and click OK o Enter 1099 form, box, amount and date to be used o Note: If not already set-up in SAP, enter this with 12/31/10 date to generate reports for 2010
  8. 8. Editing 1099 Information o Before Payment o 1099 Form and Box information can be changed o Go to: Purchasing / AP > AP Invoice > Accounting tab o After Payment o 1099 amount information can be changed o Go to: Financials > 1099 Editing
  9. 9. View and Print FormsGo to: Reports > Financials > Accounting > 1099/1096 Report o Select report type to review or print o 1099 Summary Report o 1099 Form/Box Report o Form 1099 o Note: PLD form may need modified
  10. 10. Long Business Systems, Inc. (LBSi)Cleveland – Columbus – Cincinnati – Toledo - Pittsburgh – Philadelphia - Indianapolis Contact Information: Vicki Smith Senior Consultant email: vicki@lbsi.com Phone: 440-846-8500 ext 22 www.lbsi.com
  11. 11. Next Meetings: o Tuesday, Feb. 22, 2011 o “10 Ways to improve your Purchasing Department” o Tuesday, Mar. 15, 2011 o Bill of Materials Cost Roll Ups
  12. 12. Thank you for taking time to participate in the SAPBusiness One User Group Meeting.Please take a few minutes to respond to our surveyand provide us with feedback and suggestions goingforward. o We are always looking for new clients to work with. And we would like to find more clients and partners like you – companies that are engaged, smart, and focused on their future. o Can you help us out by referring LBSi to someone who could benefit from our services?
  13. 13. Long Business Systems, Inc. (LBSi)Cleveland – Columbus – Cincinnati – Toledo - Pittsburgh – Philadelphia - Indianapolis Contact Information: Vicki Smith Senior Consultant email: vicki@lbsi.com Phone: 440-846-8500 ext 22 www.lbsi.com
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×