How to setup and process 1099 documents in SAP Business One

1099 forms in SAP Business One are used for sending the details of outgoing payments paid to vendors, within a given calendar year, to the tax authorities.

Below you can find how to complete the vendor 1099, enter AP invoice, edit 1099, and print and review 1099/1096 reports all within SAP Business One. 

Vendor 1099 Setup

  1. From the Main Menu, Go to Business Partner > Business Partner Master Data
How to setup and process 1099 documents in SAP Business One

2. Enter the vendors Federal Tax ID.

3. Go to the Accounting tab and select 1099 form and 1099 box number.  This selection will be the default on each AP Invoice.

How to setup and process 1099 documents in SAP Business One

Entering AP Invoices

The A/P invoice is a request for payment. It also records the 1099 amounts.

  • 1099 Form and Box types are specified at the AP Invoice entry stage.
  • 1099 Form and Box types may be edited later in 1099 Editing window.

 

  1. From the Main Menu, Go to Purchasing – A/P > A/P Invoice
How to set up and process 1099 documents in SAP Business One

2. On the accounting tab, you can modify the 1099 form and box when adding an AP Invoice.

How to set up and process 1099 documents in SAP Business One

1099 Editing

Use this function to update the 1099 values and 1099 amounts in existing A/P invoices, and in A/P credit memos that are not based on A/P invoices.

  • 1099 Form and Box information can be changed.
  • 1099 Amount can be changed.

 

  1. From the Main Menu, Go to Financials > 1099 Editing
How to set up and process 1099 documents in SAP Business One

1099 Editing – Before Payment

1099 Form and Box information can be changed.

Selection Criteria

  1. Select the following display option:

             Report Type - Open Invoices and Credit Memos

2. Select remaining selection criteria and click OK

  • From...To...

                                    Specify a range of vendor codes to display only documents linked to the vendors within the defined range.

  • Group

                                    Specify a vendor group to display only documents linked to the vendors assigned to the selected group.

  • Properties

                                    Opens the Properties window, in which you can set additional selection criteria based on business partner properties.

  • 1099 Forms

                                    Opens the 1099 Report – Selection Criteria window, where you can select the 1099 forms to be included in the selection criteria.

  • 1099 Boxes

                                    Opens the 1099 Boxes – Selection Criteria window, in which you can select the 1099 boxes to be included in the selection criteria.

How to set up and process 1099 documents in SAP Business One

3. Edit 1099 Form and/or Box

How to set up and process 1099 documents in SAP Business One

1099 Editing – After Payment

1099 Amount can be changed.

Selection Criteria

1. Select the following display option:

   Report Type - Invoices and Credit Memos Not Marked as Submitted

2. Select remaining selection criteria and click OK

  • From...To...

                                    Specify a range of vendor codes to display only documents linked to the vendors within the defined range.

  • Group

                                    Specify a vendor group to display only documents linked to the vendors assigned to the selected group.

  • Properties

                                    Opens the Properties window, in which you can set additional selection criteria based on business partner properties.

  • 1099 Forms

                                    Opens the 1099 Report – Selection Criteria window, where you can select the 1099 forms to be included in the selection criteria.

  • 1099 Boxes

                                    Opens the 1099 Boxes – Selection Criteria window, in which you can select the 1099 boxes to be included in the selection criteria.

How to set up and process 1099 documents in SAP Business One

3. Change 1099 amount and click update

How to set up and process 1099 documents in SAP Business One

Print and Review 1099/1096 Reports

1099 forms vs. 1096 form: 

  • 1099 forms are used for sending the details of outgoing payments paid to vendors within given calendar year, to the tax authorities
  • 1096 form is an annual summary of all payments grouped by type of form

 

This report enables you to retrieve the information required for both 1099 and 1096 reports and print it on the preprinted official forms.

  1. From the Main Menu, Go to Financials > Financial reports > Accounting > 1099/1096 Report
How to set up and process 1099 documents in SAP Business One

Selection Criteria

  1. Select the following display options:
  • 1099 Vendor Summary Report

                                             Specifies that the 1099 report should be summarized by vendors.

  • 1099 Summary by Form/Box Report

                                             Specifies that the 1099 report should be summarized by 1099 forms or 1099 groups.

  • 1099 Form

                                             Generates the 1099 report for one 1099 form only. The report results are summarized by vendors. The print layout for this report is                                              designed for printing on official 1099 forms.

  • 1096 Form

                                            Generates the 1096 report. This is an annual report that summarizes all the payments by box type. The print layout is designed for                                             printing on an official 1096 form.

How to set up and process 1099 documents in SAP Business One

Show Not Submitted

Report includes only documents that are not yet marked as submitted.

Show Submitted

Report includes documents that are marked as submitted. Submitted means the 1099 has already been printed and submitted

How to set up and process 1099 documents in SAP Business One

1099 Forms

Opens the 1099 Report – Selection Criteria window, where you can select specific 1099 forms to be included in the report.

1099 Boxes

Choose the button to open the 1099 Boxes – Selection Criteria window, where you can select specific 1099 boxes to be included in the report.

How to set up and process 1099 documents in SAP Business One

Include Payments Which Are Not Based on Invoices

Report includes payments created for vendors, not based on invoices.

Include Vendors with 1099 Amount Lower than Required

Report includes vendors with 1099 amounts lower than the minimum amount defined for the box assigned to them.  This amount is set in the 1099 Box Table.  (See additional Screenshot below)

How to set up and process 1099 documents in SAP Business One

Vendor Group

Report includes only vendors linked to the group specified here. Choose All to include vendors of all groups.

Properties

Opens the Properties window, where you can select business partner properties as selection criteria for the report.

How to set up and process 1099 documents in SAP Business One

Posting Date From, To

1. Specify the posting date range to be included in the report. By default, the range representing the calendar year of the current system date appears. Click Ok.

How to set up and process 1099 documents in SAP Business One

2. Report Displays. Put Preprinted 1099’s in the printer Click Print or Preview (You can print from Preview) If printing 1096 report, put preprinted 1096 forms in printer.  

How to set up and process 1099 documents in SAP Business One

3.  If the 1099 printed correctly, you will select Yes to Final Submission.  If the 1099’s didn’t print correctly, you will select No.  

How to set up and process 1099 documents in SAP Business One

To reprint submitted 1099’s go to selection criteria window and select option for Show Submitted.

How to set up and process 1099 documents in SAP Business One

Other Reports

1096 Report

How to set up and process 1099 documents in SAP Business One
How to set up and process 1099 documents in SAP Business One

1099 Vendor Summary Report

How to set up and process 1099 documents in SAP Business One
How to set up and process 1099 documents in SAP Business One

1099 Summary by Form/Box Report

How to set up and process 1099 documents in SAP Business One
How to set up and process 1099 documents in SAP Business One

Seidor is the global #1 SAP Platinum Partner for SAP Business One.

We sell, install, train, and support on this solution from our offices in Houston, Detroit, Miami, New Jersey, and California.

Cookie use
SEIDOR uses its own and third-party cookies in order to know and measure activity on the web, create user navigation profiles and detect improvements. Therefore, we ask for your express permission. You can access more information about the use and configuration of cookies in our cookies policy by clicking Here.
Accept Reject
X
contact us