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SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
SAP business-one-1099-setup-and-processing
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SAP business-one-1099-setup-and-processing

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LBSi presentation on SAP Business One 1099 Setup and Processing

LBSi presentation on SAP Business One 1099 Setup and Processing

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  • If anyone needs to fill out a form 1099-INT, I found a blank form here http://goo.gl/yU5sRo. This site PDFfiller also has some tutorials on how to fill it out and a few related tax forms that you might find useful.
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  • Need help with 1099 processing? View our presentation: : SAP business-one-1099-setup-and-processing http://www.slideshare.net/keithetaylor/sap-businessone1099setupandprocessing-11239022 via @slideshare
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  • 1. Long Business Systems, Inc. (LBSi) Management Software Solutions We help businesses manage for success Cleveland – Columbus – Cincinnati - Pittsburgh
  • 2. 1099 Setup and Reporting Agenda: Define 1099 Table Setup 1099 Boxes and Minimum Values Update Business Partner Update AP Invoice Enter Opening Balances Print and Review Reports
  • 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. 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. Default Vendor 1099 SettingGo to: Business Partners > Business Partner Data > Accounting tabo Federal Tax ID is required when making default selectionso Default selections pulled to each AP Invoice 1099 Form 1099 Box
  • 6. Update AP InvoicesGo to: Purchasing A/P > AP Invoice > Accounting tabo Specify / modify 1099 Form and Box: o Accounting tab: o Default form and box displayed o Use drop down to select or modify
  • 7. Editing 1099 Informationo Before Payment o 1099 Form and Box information can be changed o Go to: Purchasing / AP > AP Invoice > Accounting tab –or – o Go to: Financials > 1099 Editing
  • 8. Editing 1099 Informationo After Payment o 1099 amount information can be changed o Go to: Financials > 1099 Editing
  • 9. Enter Opening BalanceGo to: Administration > System Initialization > Opening Balances > 1099Opening Balanceso Use to enter data from legacy system or vendor not setup as 1099 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 12/31/11 date to generate reports for 2011
  • 10. View and Print FormsGo to: Financials > Financial Reports > 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
  • 11. 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?
  • 12. Next Meetings: o Tuesday, Feb. 14, 2012 o Cash Flow Reporting o Tuesday, Mar. 13, 2012 o TBA
  • 13. Long Business Systems, Inc. (LBSi) Cleveland – Columbus – Cincinnati – Pittsburgh Contact Information: Vicki Smith Senior Consultant email: vicki@lbsi.com Phone: 440-846-8500 ext 22 www.lbsi.com

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