1099 for a one time vendor
Hello All
How do we handle 1099's for one time vendors? As far as I know this is not supported in SAP and needs to be done manually. Can someone please comment on this.
Thanks
Hi
As you may be aware of the Businesses will need to fill out a Form 1099-MISC for persons, vendors, subcontractors, independent contractors, and others in the following circumstances:
$600 or more per year is paid for
u2022 cash payments to fishermen
u2022 crop insurance proceeds,
u2022 medical and health care payments,
u2022 prizes and awards,
u2022 proceeds paid to attorneys,
u2022 rents,
u2022 services (including parts and materials), and
u2022other types of payments not covered by another information reporting document.
$10 or more per year is paid for
u2022 broker payments in lieu of dividends or tax-exempt interest, and
u2022 royalties
Reporting such payments is required if the recipient of the payment is not a corporation -- for example, when the recipient is an individual, partnership, a limited liability company treated as a partnership or sole proprietorship. Payments made to corporations are required in the case of medical and health care payments and in the case of legal fees paid to attorneys. Other types of payments made to corporations may be reported using Form 1099-MISC, but is not required.
You will need to know whether the payment falls under any of the categories listed above for reportable payments, whether your payments to a particular recipient reaches the $10 or $600 threshold for reporting, and finally you'll need to know the exact amount you paid the recipient for the year.
If your vendor's are falling under this, you should not create them as one time vendor
Thanks and Regards
Siva
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Regards,
VinaySteps:
1. Need an account group: SPRO-FINANCIAL ACCOUNTING-Vendor accounts-master data u2013 preparations for creating vendor master data-define account group with screen layout for vendors. Here we need to give the account group code, and name and also need to select the one time vendor check box. Once we select the check box the field status are set for the one time vendor
2. Create number ranges u2013SPRO-FINANCIAL ACCOUNTING-Vendor accounts-master data u2013 create number ranges for vendor accounts. Give the number range or we can also select any exisiting number range and assign to the vendor account group.
3. Assign number ranges: SPRO-FINANCIAL ACCOUNTING-Vendor accounts-master data-Assign number ranges for vendor accounts.
4. Vendor creation: EASY ACCESS-Accounting-Financial accounting-accounts payable-master records-FK01. Usually we donu2019t give the address and other details for one time vendor. But it depends on the client requirement.
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vinila -
We'll soon be implementing the one-time vendor process but I have a potential audit issue.
When the AP clerk enters the bank details of the one-time vendor via MIRO does anybody have a verification process to check that the bank details are correct. As when we set up a normal vendor there is the confirmation process which is handled by a differnt user than the master data clerk.
Many Thanks in advanceI do not know of a standard SAP check on bank details for one-time vendors like there is for 'normal' vendors.
What I probably would try is to automatically set a payment block on every invoice for the one-time vendor.
I would try if this would work via a vendor specific tolerance (IMG: Materials Management / Logistics Invoice Verification / Incoming Invoice / Configure Vendor-Specific Tolerances) where the limits are checked, but the tolerance is 0.
If this fails, you could try a BADI which sets a payment block on the invoice (IMG: Materials Management / Logistics Invoice Verification / Maintain Customer Exits and Business Add-Ins / Maintain Business Add-Ins for Invoice Verification) like BADI MRM_PAYMENT_TERMS.
Regards,
Andre -
Hi,
1) In PO, under address tab, we entered a generic name and address for one time vendor.
2) In IV (MIRO), we create multiple invoices for the PO under different payees by changing the one-time vendor's name and address.
3) In payment (F110), we create proposal for the one-time vendor. In proposal list, each invoice generates a different payment number, however they are all lumped under the generic name we entered during PO under "payment to" field. After payment run, the payment list appears the same as the proposal list. The cheques printed show the correct payee entered during MIRO though.
Anybody knows how I can get the proposal list and payment list to reflect correctly?
Thanks.
Edited by: newbird on Nov 1, 2010 10:01 AMHi,
Do you able to find a solution for your requirement.
My business need is also similar to your. If you have got a workaround,can you kindly share it.
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Thank you for your answer.
I have checked this in our system and it works fine if you change the vendor master data.
However, when you enter the one-time vendor data (bank data) during the creation of the vendor invoice, no dual control is executed by the system.
That is the moment where we want to have that check because for every one-time vendor the bank account has to be entered by the user.
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I am not sure why this is happening, but when we try and post a down payment to a one time vendor, it comes up with the error F5 265.
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Is there some special config required to activate one time vendors for Down payments?Special GL transactions (like down payments) are not allowed for one-time vendors. Please refer to the following SAP Note.
https://service.sap.com/sap/support/notes/19638 -
F110 - Mass change house bank for one time vendor
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Is it possible to make mass changes for payment program for one-time vendors? I would like to change bank account from where do I want to pay something to one-time vendor. As far as I know, it isn't possible to change it that way, it is possible only one per one.
Does anyone have Idea how to resolve this issue?
Thank you in advance!I can do it but one per one in payment proposal. I can't do it mass. The issue is that I have huge number of one time vendor payments per day and some of them should be paid in one house bank and some of them in some other house bank.
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Edited by: E_Hinojosa on Dec 15, 2011 3:34 PM -
One time Vendor _ Look for Invoices by VAT number
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I am looking for a way to find out the invoices for one time vendor base on VAT number.
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Why do you want to use one time vendor in this scenario? If in the current legacy system seperate data is maintained for all the vendors, then do not go for one time vendor.
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