EAP WTHD16 : Suppliers/Vendors with 'Direct Sales of $5000 or More' included in IRS TAX File for Non Employee Compensation (Class 07) Suppliers/Vendors
Last updated on JANUARY 13, 2017
Applies to:PeopleSoft Enterprise FIN Payables - Version 9.1 and later
Information in this document applies to any platform.
Suppliers/Vendors with 'Direct Sales of $5000 or More' are getting included in IRS Tax file created with option to include only the Non Employee Compensation (Class 07) Suppliers/Vendors
1. Create or use existing 1099 applicable Supplier/Vendor with 'Direct Sales of $5000 or More' checked.
Navigation: Main Menu > Vendor > Vendor Information > Add/Update > Vendor
Note: Make sure there are no 1099 monetary transactions to report for the current reporting year - No rows for the Supplier/Vendor in PS_WTHD_TRXN_TBL for current reporting year.
2. Report Control Information : Make sure to check 'Include Direct Sales Supplier/Vendor' on the Supplier/Vendors and Business Units Tab
Navigation: Main Menu > Set Up Financials/Supply Chain > Product Related > Procurement Options > Withholding > Report Control Information
3. Run Withhold 1099 Report Job with IRS File Generate Option of 'Include Non Employee Compensation'
Navigation: Main Menu > Vendors > 1099/Global Withholding > 1099 Reports > Withhold 1099 Report Job
4. View the IRS file generated - the Supplier/Vendor with 'Direct Sales of $5000 or More' are included in the file
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