PeopleSoft 1099 Reporting:2009 Mandated Updates and Procurement Card Enhancements, PeopleSoft 8.4 and Beyond<br />Doris Wo...
Welcome & Introductions<br />Doris Wong<br />CEO, Smart ERP Solutions, Inc.<br />Former Oracle Group VP and GM for PeopleS...
Agenda<br />About Smart ERP Solutions, Inc.<br />1099 Changes for 2009: What’s New From the IRS That Impacts PeopleSoft<br...
About Smart ERP Solutions, Inc. <br />
Smart ERP Solutions, Inc.<br /><ul><li>Comprised of the best former developers, architects and executives from PeopleSoft/...
Providing cost-effective, robust and repeatable “Smart Solutions” for your PeopleSoft applications
Strong best practices and expertise in PeopleSoft strategic planning, Smart implementation and upgrade services </li></ul>...
SmartERP: Our PhilosophySolutions<br />Enhance and Extend Standard PeopleSoft Functionality to Meet Business Needs<br />3C...
SmartERP: Our Solutions<br />
SmartERP: Our Business Value<br />SmartERP Solutions Offer Lower Costs Compared to Traditional Solutions<br />Designed and...
1099 Changes For 2009: What’s New From The IRS That Impacts PeopleSoft<br />
PeopleSoft 1099 Changes for 2009<br /><ul><li>2 Part Correction Files Required for Name, Address or TIN changes</li></ul>P...
Form 1099-G</li></ul>Added a class 9<br />Will be addressed by PeopleSoft fix, however Form 1099-G not delivered with 8.4<...
PeopleSoft 1099 Changes for 2009<br /><ul><li>Stricter Enforcement of Combined Federal State Reporting</li></ul>Be sure to...
1099 Review and Enhancements for 9.0<br />
1099 Processing ReviewAll PeopleSoft Releases<br />Confirm Withholding Sent for Prior Year *<br />Pay and Payment Post<br ...
PeopleSoft 9.0 Enhancements 1099 Job <br />1099 Report Post<br />1099 Report<br />1099 Copy B<br />
PeopleSoft 9.0 Enhancements 1099 Job <br />Run 1099 Report Post, 1099 Report and Copy B reports from a single run control<...
PeopleSoft 8.4 1099 Tax Update & Support<br />
1099 Update Service OfferingTax Year 2009 – PeopleSoft 8.4<br /><ul><li>PeopleSoft 8.4 is now outside of the Oracle suppor...
As a service to PeopleSoft 8.4 customers, SmartERP provides an offering to maintain IRS compliance with Tax Year 2009 mand...
1099 Update Service OfferingTax Year 2009 – PeopleSoft 8.4<br />
8.4 1099 Update for 2009<br /><ul><li>2 Part Correction Files Required for Name, Address or TIN changes</li></ul>Previousl...
Procurement Card 1099 Processing<br /><ul><li>How does your organization comply with IRS Procurement Card 1099 reporting r...
Procurement Card 1099 Processing<br /><ul><li>PeopleSoft 1099 Processing</li></ul>Enter Vendors and mark as 1099<br />Ente...
Procurement Card 1099 Processing<br /><ul><li>PeopleSoft 1099 Processing</li></ul>Enter Vendors and mark as 1099 – NO Vend...
1099 Procurement Card Processing<br /><ul><li>Smart 1099 P-Card Processing</li></ul>Delivered 1099 Process<br />
Smart 1099 Procurement Cards Processing<br /><ul><li>Receive File from P-Card Provider
Does NOT require P-Card module
Load File into Staging Record
Smart Loader
Setup
Map MCC codes to 1099 Applicability and Class
Transform File
Creates 1099 External Vendors based on MCC Mapping
Inserts Rows into WTHD_TRXN_TBL
1099 Report Post*
Bolt on App Engine that processes External Vendors
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PeopleSoft 1099 reporting solutions

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This webinar covers the required changes impacting 1099 reporting within PeopleSoft Financials as well as enhancements to streamline 1099 Procurement-Card Reporting. For PeopleSoft 8.4: information on a service offering to make the 2009 mandated changes is provided. For all releases: an enhancement automating 1099 reporting for Procurement Cards is presented.

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  • Deleted these 2 bullets for now:Rollback CapabilityChange Impact Reports
  • Deleted these 2 bullets for now:Rollback CapabilityChange Impact Reports
  • You need to have vendors in order to create 1099’s with the delivered process.
  • Procurement card transactions are credit card payments presented at the time of purchase of goods. They do not require PeopleSoft Vendors or Vouchers because the payment to the vendor has already been made by the P-card provider. Each month the P-card provider sends you a bill for what is owed. If you use PeopleSoft delivered processing, there will be one or more Vouchers created each month payable to the Credit Card company (i.e. JP Morgan, Chase etc.). The Vouchers are not made out to the Vendor that actually did the service so there is no way for PeopleSoft delivered processing to create 1099’s for the Vendor that actually did the service. You are, however, required to send 1099’s to the Vendor that actually did the service.
  • Procurement card transactions are credit card payments presented at the time of purchase of goods. They do not require PeopleSoft Vendors or Vouchers because the payment to the vendor has already been made by the P-card provider. Each month the P-card provider sends you a bill for what is owed. If you use PeopleSoft delivered processing, there will be one or more Vouchers created each month payable to the Credit Card company (i.e. JP Morgan, Chase etc.). The Vouchers are not made out to the Vendor that actually did the service so there is no way for PeopleSoft delivered processing to create 1099’s for the Vendor that actually did the service. You are, however, required to send 1099’s to the Vendor that actually did the service.
  • This is where Smart P-Card processing comes in. The IRS has published a list of MCC (Merchant Category Codes) that it considers to be 1099 applicable. You are required to report all transactions that have the 1099 associated MCC’s. All banks can provide a list of transactions by MCC. These files will be loaded into PeopleSoft by the Smart Loader. Next we have a setup page that has the MCC’s listed along with their 1099 applicability. The Smart Transformation process will take the raw data, create ‘shadow’ 1099 vendors and insert 1099 totals into the delivered PeopleSoft withholding records.We will discuss each of these processes in more detail in the next set of slides.
  • Here is a reiteration of the previous slide, in words.
  • This is part of a file from JP Morgan that has a payment summary of all payments. As you can see there is an MCC code associated with all of the Merchants. There is also enough information to create 1099’s. JP Morgan has also provided the Incorporation status. You will have a chance to create 1099’s for only those type of businesses you want on the P-Card configuration page. Also included in this file is the Federal Tax ID number and address of the Merchant.
  • This is part of a file from JP Morgan that has a payment summary of all payments. As you can see there is an MCC code associated with all of the Merchants. There is also enough information to create 1099’s. JP Morgan has also provided the Incorporation status. You will have a chance to create 1099’s for only those type of businesses you want on the P-Card configuration page. Also included in this file is the Federal Tax ID number and address of the Merchant.
  • We have provided a couple of Setup pages that control how the data you just loaded will be transformed in PeopleSoft.Smart Pcard does not create standard PeopleSoft vendors. Creating vendors for Procurement Card transactions could potentially make the Vendor file increase greatly so Smart Pcard creates what we refer to as ‘Shadow’ 1099 Vendors. These Vendors will not be stored in the delivered Vendor records but will be kept in bolt on records that will store just what’s needed to produce 1099’s. The Setid above will be used for the Shadow Vendors. The Prefix can be whatever you want and just helps you keep the ‘Shadow’ vendors separate from the standard Vendors. The Payment Sequence number is used to create a PYMNT_ID in the WTHD_TRXN_TBL during the transformation process. It should not be necessary to change this value going forward.Business Unit is the AP Business Unit you want the totals to be reflected in.The Las Sequence Number is used to keep track of the Shadow Vendor ID’s just like the NEXT function on the Standard Vendors. In this example Vendors WH00000001 through WH00000018 have been created. The NEXT ID will be WH00000019.ProCard User is completely optional and will only be used if you have PeopleSoft Procurement Cards installed and you wish to use the Loader to create users (Not part of the standard solution).Incorporation Status allows you to control what types of Vendors get setup as 1099 Shadow Vendors and subsequently get 1099 information inserted into the WTHD_TRXN_TBL. In the above example we are only going to create Shadow Vendors and 1099 information for Merchants listed as Individuals. This is completely up to your organization. Since different Pcard providers may have different Status’s this page is completely configurable for you to use.TIN Types can either be EIN (F) or SSN (S). You can set your default here based on the Incorporation Status but you will be able to change Shadow Vendors as needed later.
  • Next we are ready to map MCC’s to 1099 Applicability.Account is completely optional. Some of our clients have wanted the PeopleSoft delivered Pcard process modified to update the Account on Pcard transactions according to the MCC. For example if an MCC is Office Supplies, you want all transactions to inherit the account for Office Supplies. Delivered PeopleSoft allows you to only set the account default at the Pcard holder. So, if a user has a default account of Hardware, they have to remember to change it the Office Supplies during the reconciliation phase instead of letting the system automatically mark that payment from Office Depot to the account for Office Supplies. Again, this is totally optional.Next, the IRS has published a list of MCC’s that are considered 1099 applicable. We have provided these as checked for 1099 Reportable for you convenience. You can check or uncheck any MCC you wish. Next you will need to give these a default 1099 class. In the above example, if the MCC is 8351, the transaction will be given a 1099 class of 07. It is up to your organization to map these classes to the appropriate MCC.
  • The App Engine invoked from the above run control will do the following:Read the data from the staging recordsCreate new ‘Shadow’ Vendor and row in the WTHD_TRXN_TBL when:The MCC is marked as 1099 applicableThe Incorporation Status is checked in the setupThe TIN does not already exist in either the regular Vendor or Shadow Vendor recordIf the TIN already exists in the Vendor record a row will be written to the WTHD_TRXN_TBL with the total from the load.If the TIN already exists in the Shadow Vendor a row will be written to the WTHD_TRXN_TBL with the total from the load and the vendor name or address will be updated if it is different on the current file.As mentioned earlier, the Publish Date will become the Payment Date and the Withholding Declaration date on the WTHD_TRXN_TBL. Populating the WTHD_TRXN_TBL is key to the rest of the delivered 1099 process.
  • Shadow Vendors are Created. You can modify any information needed going forward. Only information needed for the 1099 process is stored.
  • This is the Delivered PeopleSoft 1099 Process Page.
  • Here is a reiteration of the previous slide, in words.
  • PeopleSoft 1099 reporting solutions

    1. 1. PeopleSoft 1099 Reporting:2009 Mandated Updates and Procurement Card Enhancements, PeopleSoft 8.4 and Beyond<br />Doris Wong, CEO<br />Dan White, VP of Product Strategy<br />September 22, 2009<br />Our webinar will begin shortly. Please note all phone lines and computer microphones will be placed on mute throughout the presentation. Please use the GoToWebinar QUESTION feature to ask questions.<br />
    2. 2. Welcome & Introductions<br />Doris Wong<br />CEO, Smart ERP Solutions, Inc.<br />Former Oracle Group VP and GM for PeopleSoft Enterprise<br />13 Years Experience with PeopleSoft<br />Dan White<br />VP, Product Strategy, Smart ERP Solutions, Inc.<br />Former Oracle/PeopleSoft Principal Functional Architect<br />11 Years Experience with PeopleSoft<br />
    3. 3. Agenda<br />About Smart ERP Solutions, Inc.<br />1099 Changes for 2009: What’s New From the IRS That Impacts PeopleSoft<br />PeopleSoft 1099 Review and What’s New for 9.0<br />PeopleSoft 8.4 1099 Tax Update & Support<br />Smart 1099 Procurement Cards Solution<br />For All PeopleSoft Releases: How Smart 1099 Procurement Cards can reduce your manual intensive year-end processing?<br />Does not require PeopleSoft standard P-Card feature<br />Single Payment Voucher & External Sources<br />Q & A<br />
    4. 4. About Smart ERP Solutions, Inc. <br />
    5. 5. Smart ERP Solutions, Inc.<br /><ul><li>Comprised of the best former developers, architects and executives from PeopleSoft/Oracle
    6. 6. Providing cost-effective, robust and repeatable “Smart Solutions” for your PeopleSoft applications
    7. 7. Strong best practices and expertise in PeopleSoft strategic planning, Smart implementation and upgrade services </li></ul>www.smarterp.com<br />
    8. 8. SmartERP: Our PhilosophySolutions<br />Enhance and Extend Standard PeopleSoft Functionality to Meet Business Needs<br />3Cs : Common, Critical, Complementary<br />Repeatable, Pre-Packaged, Highly-Configurable and Innovative Solutions<br />Release Independence<br />Customer-Driven Requirements<br />Architected and Designed as Add-On Solutions<br />Lower Total Cost of Ownership<br />Minimal to No Customizations<br />Minimal Upgrade Impact<br />Affordable and Cost-Effective<br />
    9. 9. SmartERP: Our Solutions<br />
    10. 10. SmartERP: Our Business Value<br />SmartERP Solutions Offer Lower Costs Compared to Traditional Solutions<br />Designed and Developed with Customer Requirements and Feedback<br />Configurable and Streamlined to Meet Your Specific Business Requirements<br />Quick and Short Implementation Times<br />Solves Business Needs on Your Current PeopleSoft Release<br />Applicable to All Applications: Financials, HCM, Campus Solutions, SCM, CRM, EPM<br />Proven and High-Quality Solutions and Services<br />
    11. 11. 1099 Changes For 2009: What’s New From The IRS That Impacts PeopleSoft<br />
    12. 12. PeopleSoft 1099 Changes for 2009<br /><ul><li>2 Part Correction Files Required for Name, Address or TIN changes</li></ul>Previously: TIN or Name and Address<br /><ul><li>Added Control Totals F & G</li></ul>Not directly related to 1099 MISC, INT or GOV but still requires changes<br /><ul><li>Changes to Instructions to Recipients
    13. 13. Form 1099-G</li></ul>Added a class 9<br />Will be addressed by PeopleSoft fix, however Form 1099-G not delivered with 8.4<br />
    14. 14. PeopleSoft 1099 Changes for 2009<br /><ul><li>Stricter Enforcement of Combined Federal State Reporting</li></ul>Be sure to change the State Table in PeopleSoft if you process Connecticut or Colorado Vendors<br />Connecticut - 08 in delivered State Table but needs to be 07 for 1099<br />Colorado - 09 in delivered State Table but needs to be 08 for 1099<br />
    15. 15. 1099 Review and Enhancements for 9.0<br />
    16. 16. 1099 Processing ReviewAll PeopleSoft Releases<br />Confirm Withholding Sent for Prior Year *<br />Pay and Payment Post<br />Withholding Post <br />Withholding 1099 Report Post *<br />Withholding 1099 Report *<br />Print 1099 Copy B *<br />Withholding Sent for Current Year <br />* PeopleSoft 1099 Specific Processes<br />
    17. 17. PeopleSoft 9.0 Enhancements 1099 Job <br />1099 Report Post<br />1099 Report<br />1099 Copy B<br />
    18. 18. PeopleSoft 9.0 Enhancements 1099 Job <br />Run 1099 Report Post, 1099 Report and Copy B reports from a single run control<br />Run each process individually from the same page<br />
    19. 19. PeopleSoft 8.4 1099 Tax Update & Support<br />
    20. 20. 1099 Update Service OfferingTax Year 2009 – PeopleSoft 8.4<br /><ul><li>PeopleSoft 8.4 is now outside of the Oracle support window.
    21. 21. As a service to PeopleSoft 8.4 customers, SmartERP provides an offering to maintain IRS compliance with Tax Year 2009 mandatory changes:</li></ul>Fixed Fee: $15K until 10/31/09<br />Note: Form 1099-G not available in 8.4<br />
    22. 22. 1099 Update Service OfferingTax Year 2009 – PeopleSoft 8.4<br />
    23. 23. 8.4 1099 Update for 2009<br /><ul><li>2 Part Correction Files Required for Name, Address or TIN changes</li></ul>Previously: TIN or Name and Address<br /><ul><li>Added Control Totals F & G</li></ul>Not directly related to 1099 MISC, INT or GOV but still requires changes<br /><ul><li>1099 G</li></ul>Added a class 9<br />Will be addressed by PeopleSoft fix, however G is not delivered with 8.4<br /><ul><li>Changes to Instructions to Recipients</li></ul>Organization unique requirements<br /><ul><li>Stricter Enforcement of Combined Federal State Reporting</li></ul>Connecticut<br />08 in delivered State Table but needs to be 07 for 1099<br />Colorado<br />08 in delivered State Table but needs to be 07 for 1099<br /><ul><li>40 Hours of Seasonal Support from PeopleSoft 1099 Experts!</li></li></ul><li>1099 for Procurement Cards, Single Payment Vouchers and External Systems<br />
    24. 24. Procurement Card 1099 Processing<br /><ul><li>How does your organization comply with IRS Procurement Card 1099 reporting requirements?</li></ul>Spreadsheets?<br />Manual manipulation of file?<br />Many hours of manual effort reconciling regular vendors to procurement card merchants?<br />Skipping process altogether?<br />
    25. 25. Procurement Card 1099 Processing<br /><ul><li>PeopleSoft 1099 Processing</li></ul>Enter Vendors and mark as 1099<br />Enter Vouchers<br />Pay Vouchers<br />Post Payments<br />Post Withholdings<br />Post 1099<br />Create 1099 file for IRS<br />Create Copy B Reports<br />
    26. 26. Procurement Card 1099 Processing<br /><ul><li>PeopleSoft 1099 Processing</li></ul>Enter Vendors and mark as 1099 – NO Vendors for P-Cards<br />Enter Vouchers – NO Vendor Vouchers for P-Cards<br />Pay Vouchers – NO Vendor Payments for P-Card Vendors<br />Post Payments – NO Payment Posting fro P-Card Payments<br />Post Withholdings - NO Payments,NOWithholdingTransactions<br />Post 1099 – NO Withholding, NO 1099 Information<br />Create 1099 file for IRS – NO 1099 Information, No File for IRS<br />Create Copy B Reports – NO File for IRS, NO Copy B Reports<br />
    27. 27. 1099 Procurement Card Processing<br /><ul><li>Smart 1099 P-Card Processing</li></ul>Delivered 1099 Process<br />
    28. 28. Smart 1099 Procurement Cards Processing<br /><ul><li>Receive File from P-Card Provider
    29. 29. Does NOT require P-Card module
    30. 30. Load File into Staging Record
    31. 31. Smart Loader
    32. 32. Setup
    33. 33. Map MCC codes to 1099 Applicability and Class
    34. 34. Transform File
    35. 35. Creates 1099 External Vendors based on MCC Mapping
    36. 36. Inserts Rows into WTHD_TRXN_TBL
    37. 37. 1099 Report Post*
    38. 38. Bolt on App Engine that processes External Vendors
    39. 39. PeopleSoft Standard 1099 Reports* can be used</li></ul>*Require Yearly Smart Update<br />
    40. 40. Smart 1099 Procurement Cards Processing<br /><ul><li>Receive File from P-Card Provider</li></li></ul><li>Smart 1099 Procurement Cards Processing<br /><ul><li>Smart Loader Moves Data into Staging Record</li></li></ul><li>Smart 1099 Procurement Cards Processing<br /><ul><li>Configuration</li></li></ul><li>Smart 1099 Procurement Cards Processing<br /><ul><li>MCC to 1099 Mapping</li></li></ul><li>Smart 1099 Procurement Cards Processing<br /><ul><li>Upload P-Card Payments
    41. 41. Creates / Updates External Vendors as needed.
    42. 42. Creates 1099 transaction rows for either the External Vendors or the Regular Vendors that have the same TIN as the Procurement Card feed.</li></li></ul><li>Smart 1099 Procurement Cards Processing<br /><ul><li>External Vendors Created
    43. 43. Multiple Names
    44. 44. Multiple Addresses
    45. 45. W9 Attachment Functionality
    46. 46. One TIN
    47. 47. Separate 1099 Adjustment </li></ul>Page<br />
    48. 48. Smart 1099 Procurement Cards Processing<br /><ul><li>Run the PeopleSoft Standard Processes with SmartERP Modifications
    49. 49. SmartERP will provide yearly updates to reflect PeopleSoft / IRS changes</li></li></ul><li>Smart 1099 Procurement Cards Processing<br /><ul><li>IRS Tax File</li></li></ul><li>Smart 1099 Procurement Cards Processing<br /><ul><li>Copy B’s!</li></li></ul><li>Smart 1099 Procurement Card Processing<br /><ul><li>Smart 1099 Solution Works Equally Well With:
    50. 50. Any External System
    51. 51. Feed information from any system
    52. 52. No need to create regular PeopleSoft vendors
    53. 53. Single Payment Vouchers
    54. 54. External Vendors created from Single Payment Vouchers
    55. 55. If payee TIN matches regular Vendor, total will be added to regular vendor
    56. 56. Reports
    57. 57. Loaded Payments
    58. 58. Exception: 1099 P-Card matches Regular Vendor but Regular Vendor is not marked as 1099</li></li></ul><li>Upcoming Events<br />Oracle Open World 2009<br />San Francisco, CA, Booth # 3131, Moscone West<br />October 11th – 15th<br />Link ’09 <br />Addison, Texas<br />November 17th – 19th <br />SmartERP Webinar Series<br />Personal Demo with Your Organization<br />Any Time you Want!<br />
    59. 59. Contact Information<br />Doris Wong<br />CEO<br />doris.w@smarterp.com<br />925-699-0832<br />Dan White<br />Vice President, Product Strategy<br />dan.w@smarterp.com<br />925-693-8707<br />
    60. 60. Q & A <br />To ask a question please use the GoToMeeting QUESTION feature (please note all phone lines and computer microphones have been placed on mute). <br />If we can’t get to your question live we will respond to you directly via email after the webinar.<br />For more information visitsmarterp.comCopyright © 2009 Smart ERP Solutions, Inc.<br />
    61. 61. For more information visitsmarterp.comCopyright © 2009 Smart ERP Solutions, Inc.<br />

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