1099 vendor

[Former Member]

What is the configuration required for 1099 vendors? Please provide stepbe step config steps. Do we need to configure with holding tax? If yes, what are the steps?

[Former Member]

Dear lakshmi,

My apology, I was not aware of this concept of 1099 reporting. Kindly ignore my previous thread.

Regards,

Ajay

[Former Member]

Dear Lakshmi,

What do u mean by 1099 vendors. Are these the number of vendors u have?

Regards,

Ajay

[Former Member]

Hello,

For 1099 accounting in your Vendor master data, you have to attach the With Holding Tax code in Account information tabstrip.

Coming to configuration of With holding tax codes,

Depending on your requirements, you may need to further customize your system by creating withholding tax codes, as described for each type of reporting:

Withholding Tax Codes for 1099 Misc Reporting (some withholding tax codes are delivered)

Withholding Tax Codes for 1099-G Reporting

Withholding Tax Codes for 1099-INT Reporting

Withholding Tax Codes for 1042 Reporting

Withholding tax codes are configured in IMG\Financial Accouting (New)\Withholding tax

You have to define

1.Basic Settings

2.Calculation

3.Posting

Hope this helps

Assign points if useful.

Rgds

Rajendra

[Former Member]

Have you created 1099-G forms out of SAP?  If so, did you produce them out

of A/P?  How did you get the appropriate tax year to populate in Box 3?  Was an

enhancement required?