updated for 2011 - University System of Georgia

Report
1099 Processing
for
2011 Calendar Year
GeorgiaFIRST Wimba Training Series
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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Agenda
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Wimba Ground Rules
Review Objectives
Changes from previous year 1099 processing
Overview of the 1099 Process
1099 Setup Steps
1099 Processing throughout the year
AP_WTHD Process
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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Agenda
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•
•
•
•
•
•
•
•
Reviewing 1099 Items
Making Corrections and Adjustments
1099_RPT_PST process
Producing the IRS file
Final Steps before producing Copy B Reports
Generating Copy B Reports
WTHD_SENT process
1099 Processing User’s Guide
Q&A
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Wimba Ground Rules
• Submit all questions to “Main Room” please
• We may hold some questions to the end of
the session
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Objectives
• Review the changes and modifications in the
1099 process from the previous year
• Walk through the 1099 process, detailing what
to look for and best practices for processing
• Introduce users to 1099 Processing User’s
Guide
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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1099 Changes for CY2011
• Ability to mask TINs on Copy B’s (removed)
• BORRY010 Report: This report was modified
to include certain cancelled payments that
were previously not being included.
• IRSTAX.001 output file had one minor change
• Print 1099 Copy B pages were modified to
hide options that we do not use.
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1099 Overview Process
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1099 Setup Steps
• Optional Review (See 1099 User’s Guide for
detailed instructions)
– Review A1 Calendar
– Review Withholding Entities
– Review Withholding Rules
– Review Withholding Types
– Review Withholding Codes
• Setup/Review Report Control Information
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Setup Report Control Information
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Setup Report Control Information
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Setup Report Control Information
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Setup Report Control Information
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1099 Processing Throughout the Year
• Entering 1099 Vendors
– BOR_AP_1099_VENDORS
• Entering 1099 Withholding Vouchers
• Posting 1099 Vouchers
– Payment Posting App Engine Process
• Year-Round Queries
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–
–
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BOR_AP_1099_PMTS
BOR_AP_1099_JE
BOR_AP_1099_NONRPT_CONSISTENT
BOR_AP_1099_MISMATCHED
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Entering 1099 Vendors
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GeorgiaFIRST Wimba Training Series
Entering 1099 Vendors
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Entering 1099 Vendors
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BOR_AP_1099_VENDORS Query
• Query shows 1099 applicable vendors for a
selected SetID and Vendor Status
• Can be run throughout the year
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BOR_AP_1099_VENDORS Query
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GeorgiaFIRST Wimba Training Series
Entering 1099 Vouchers
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GeorgiaFIRST Wimba Training Series
Entering 1099 Vouchers
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Queries to Run Year-Round
•
•
•
•
BOR_AP_1099_PMTS
BOR_AP_1099_JE
BOR_AP_1099_NONRPT_CONSISTENT
BOR_AP_1099_MISMATCHED
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AP_WTHD Process
• AP_WTHD Process is run to post withholdings
• Combines voucher and payment info in the
PS_WTHD_TRXN_TBL
• Reports generated from this table
• Payments must be posted before running this
process
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Withhold Transaction Post
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1099 Review
• Pages, Queries, and Reports designed to help
you review your 1099 transactions and
determine if adjustments are needed
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Review
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Vouchers by Vendor
• Vouchers by Vendor
– Review vendor withholding transactions by
vendor
– Review one vendor at a time
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Vouchers by Vendor
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Vouchers by Vendor
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Review Payments to WH Vendors
• Review Payments to Withholding Vendors
– Review all payments and associated vouchers
made to withholding entities by vendor
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Review Payments to WH Vendors
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Review Vendor Balances by Class
• Review 1099 Vendor Balances by Class
– Review vendor total withholding transactions by
class over a specified period of time
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Review Vendor Balances by Class
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BOR_AP_1099_PMTS Query
• List of all 1099 Reportable Items
• Lists all payments where both the vendor and
voucher have been marked as ‘Reportable’
• Includes the Vendor, Voucher, and Payment
IDs
• Should be run for both Primary and “B”
Business Units
– Should be no results for “B” Business Units
• Can be run throughout the year
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BOR_AP_1099_PMTS Query
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BOR_AP_1099_JE Query
• Transactions entered through modules other than
AP and as online journal entries are not
automatically included in 1099 reporting
• Query lists entries posted to the typically
reportable accounts (7278xx, 719xxx, 7481xx,
751xxx)
• From the results, determine if any items need to
be reflected in 1099 reporting
• If so, you will need to manually adjust
(AP.080.090)
• Can be run throughout the year
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BOR_AP_1099_JE Query
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BOR_AP_1099_NONRPT_CONSISTENT
• List of transactions that are charged to typically
reportable accounts (719xxx, 7278xx, 7481xx,
751xxx) and will not be reported because:
– Vendor is marked WH, but associated Vouchers are
not
– Vouchers are marked WH, but vendor is not
– Neither vendor nor vouchers are marked WH
• Transactions listed here will not be reported
unless both the Vendor and Vouchers are marked
as Withholding
• Can be run throughout the year
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BOR_AP_1099_NONRPT_CONSISTENT
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BOR_AP_1099_MISMATCHED Query
• List of transactions charged to any account where
either the vendor is marked as WH, but the associated
vouchers are not, or where the vouchers are marked as
WH, but the vendor is not
• Transactions listed here will not be reported unless
both the vendor and vouchers are marked as WH
• Differs from BOR_AP_1099_NONRPT_CONSISTENT
query in that it is not limited to only typically
reportable accounts
• Can be run throughout the year
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BOR_AP_1099_MISMATCHED Query
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Duplicate Vendor Report
• Duplicate Vendor Report
– Identifies duplicate vendors that may require
adjustments to combine withholding totals for
vendors with duplicate TINs
– If not adjusted, multiple 1099s may be issued to
the vendor
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Duplicate Vendor Report
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Duplicate Vendor Report
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Withholding Control Report
• Withholding Control Report
– Lists detailed information for each vendor with
Withholding Activity
– On report, one page per vendor
– Very detailed report
– Does depend on the Post Withholdings process
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Withholding Control Report
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Withholding Control Report
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BOR_AP_1099_ADJUST Query
• Lists all manual adjustments entered for the
selected calendar year
• Recommended that you run this prior to
making adjustments for current 1099
processing year and then after they are made
to compare results and verify adjustments
were made correctly
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BOR_AP_1099_ADJUST Query
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BORRY010 Report
• BORRY010 1099 Reportable Transactions
Report
– Shows all 1099 reportable transactions, including
adjustments
– Only ‘Amount’, ‘Amt Under Minimum’, and
‘Calculated Reportable Amount’ columns will be
populated
• This is until the Withhold 1099 Report Post
(1099_RPT_PST) and Withhold 1099 Report
(AP_APY1099) processes are run
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BORRY010 Report
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BORRY010 Report
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Throughout Year
Enter 1099 Vendors
Enter 1099 Vouchers
Post 1099 Vouchers
Begin 1099
Process
Review 1099 Setup
· Review Withholding Entities,
WH Rules, WH Types, and A1
Calendar (Optional)
· Setup/Review WH Codes
(Optional)
· Setup/Review Report Control
Information
Run Process
AP_WTHD
(Post Withholdings)
Make Manual
Adjustments
(Adjust Withholding)
Yes
Are you making
manual
adjustments?
Run Process
AP_WTHD_UPDT
(Update Withholdings)
Complete Withholding Vendor Update
(Update Vendor Withholdings) OR
Withholding Invoice Line Update
(Update Voucher Line Withholding)
Perform Review of 1099 Items
Vouchers by Vendor
Withholding Payments
Vendor Balance By Class
BOR_AP_1099_PMTS
BOR_AP_1099_JE
BOR_AP_1099_NONRPT_CONSISTENT
BOR_AP_1099_MISMATCH
Duplicate Vendor Report
Withhold Control Report (optional)
BOR_AP_1099_ADJUST
BORRY010 – 1099 Reportable
Transaction Report
·
·
·
·
·
·
·
·
·
·
·
Yes
Are Adjustments
Needed?
No
No
Run Process
1099_RPT_PST
(Withhold 1099
Report Post)
Run Process
AP_APY1099 Produce
IRSTAX.001 File
(Withhold 1099
Report)
Review
· BORRY010 – 1099 Reportable
Transaction Report
· BOR_AP_1099_SND_DTL_TOT
· 1099 Withhold to Send Report
Run Process
AP_COPY_B
Report
(Print 1099 Copy
B)
Review, Print, &
Send Copy B
Documents
Send IRSTAX.001
File to IRS
Run Process
WTHD_SENT
(Withholding
Sent File)
End 1099
Process
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What Requires Adjustments
• A vendor is marked as Withholding, but their
vouchers are not
• Vouchers are marked as Withholding, but the
vendor is not
• An invoice line for a Withholding vendor
needs the withholding removed
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Making Corrections and Adjustments
• When making an adjustment, use either
Withholding Vendor Update, Withholding
Invoice Line Update or adjust manually
• Whenever possible, make adjustments
through Withholding Vendor Update or
Withholding Invoice Line Update (instead of
manual)
– Updates the underlying tables as well
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What Type of Adjustment
Are
Adjustments
Needed
Withholding
Vendor
Update
Withholding
Invoice Line
Update
Manual
Update
Withholding
Update
Process
Perform
Review Steps
Again
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Withholding Vendor Update
• Use to change withholding applicability or
class
• Will apply to all vouchers for the vendor
• When completed, must run the Withholding
Update Process
• Make sure to update the actual Vendor first
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Withholding Vendor Update
• Example:
– Vendor not created as 1099 Withholding Vendor
and you need to make all vouchers for that vendor
‘withholding’
– Need to update the actual vendor as well
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Withholding Vendor Update
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Withholding Vendor Update
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Withholding Vendor Update
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Withholding Vendor Update
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Withholding Vendor Update
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Withholding Invoice Line Update
• Use when needing to update one of the
following on an invoice line:
– Withholding applicability
– Withholding class
• Updates only the selected invoice lines
• When completed, must run the Withholding Update
Process
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Withholding Invoice Line Update
• Example:
– All of vendor’s vouchers marked as ‘withholding’,
yet one is not supposed to be a withholding
voucher
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Withholding Invoice Line Update
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Withholding Invoice Line Update
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Withholding Invoice Line Update
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Withholding Invoice Line Update
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Withholding Update Process
• Remember to run the Withholding Update
Process (AP_WTHD_UPDT) after completing
Withholding Vendor Updates and Withholding
Invoice Line Updates
• Process updates the withholding transactions
and the underlying voucher tables
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Withholding Update Process
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After Withholding Update Process
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What Type of Adjustment
Are
Adjustments
Needed
Withholding
Vendor
Update
Withholding
Invoice Line
Update
Manual
Update
Withholding
Update
Process
Perform
Review Steps
Again
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Manual Adjustments
• Can manually adjust posted withholding
transactions by vendor or add withholding
entries from a legacy or third party system
• Needed if transactions were entered via
journal entry
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Manual Adjustments
• Example:
– A wire was sent to Vendor
– Journal Entry used to expense
– Manual update needed to report that amount
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Manual Adjustments
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Manual Adjustments
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Manual Adjustments
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Manual Adjustments
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Manual Adjustments
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Making Corrections and Adjustments
• Very Important:
When adjustments have been completed, go
back and perform the review steps to ensure
adjustments were made correctly
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1099_RPT_PST
• Withholding Report Post
• Populates the Withholding 1099 table by
extracting data from the Withhold Transaction
table and inserting it into the Withholding 1099
table, if it exceeds the reporting threshold
• System uses data to create a file for the IRS,
forms for vendors, and to process corrections
• Must be run prior to Generating Withholding
Reports
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1099_RPT_PST
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AP_APY1099
• Generate Withholding Reports
• Creates a flat file for the IRS
• Populates the Withholding to Send and Copy B
tables
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AP_APY1099
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AP_APY1099
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BORRY010 Report
• BORRY010 – 1099 Reportable Transactions
Report
– Shows all 1099 reportable transactions, including
adjustments
– Compares the calculated reported amounts to the
actual reported amounts, as compiled by the
1099_RPT_PST and AP_APY1099 processes in the
PS_WTHD_TO_SND_DTL records
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BORRY010 Report
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BORRY010 Report
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BOR_AP_1099_SND_DTL_TOT Query
• BOR_AP_1099_SND_DTL_TOT Query
– Use query to obtain reportable totals, grouped by
class
– Total should match both the total on the
BORRY010 Report and the 1099 Withholding to
Send Detail Report
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BOR_AP_1099_SND_DTL_TOT Query
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1099 WH to Send Detail Report
• 1099 Withholding to Send Detail Report
– Report creates a replica of the data in the file you
are sending to the IRS
– Use the report to review a summary of the data
stored in the Withholding Detail table
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1099 WH to Send Detail Report
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After Review…
• Do any additional corrections need to be
made?
• If so, make the corrections and perform
review steps again
– If making corrections, remember to run
1099_RPT_PST & AP_APY1099 processes again
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Throughout Year
Enter 1099 Vendors
Enter 1099 Vouchers
Post 1099 Vouchers
Begin 1099
Process
Review 1099 Setup
· Review Withholding Entities,
WH Rules, WH Types, and A1
Calendar (Optional)
· Setup/Review WH Codes
(Optional)
· Setup/Review Report Control
Information
Run Process
AP_WTHD
(Post Withholdings)
Make Manual
Adjustments
(Adjust Withholding)
Yes
Are you making
manual
adjustments?
Run Process
AP_WTHD_UPDT
(Update Withholdings)
Complete Withholding Vendor Update
(Update Vendor Withholdings) OR
Withholding Invoice Line Update
(Update Voucher Line Withholding)
Perform Review of 1099 Items
Vouchers by Vendor
Withholding Payments
Vendor Balance By Class
BOR_AP_1099_PMTS
BOR_AP_1099_JE
BOR_AP_1099_NONRPT_CONSISTENT
BOR_AP_1099_MISMATCH
Duplicate Vendor Report
Withhold Control Report (optional)
BOR_AP_1099_ADJUST
BORRY010 – 1099 Reportable
Transaction Report
·
·
·
·
·
·
·
·
·
·
·
Yes
Are Adjustments
Needed?
No
No
Run Process
1099_RPT_PST
(Withhold 1099
Report Post)
Run Process
AP_APY1099 Produce
IRSTAX.001 File
(Withhold 1099
Report)
Review
· BORRY010 – 1099 Reportable
Transaction Report
· BOR_AP_1099_SND_DTL_TOT
· 1099 Withhold to Send Report
Run Process
AP_COPY_B
Report
(Print 1099 Copy
B)
Review, Print, &
Send Copy B
Documents
Send IRSTAX.001
File to IRS
Run Process
WTHD_SENT
(Withholding
Sent File)
End 1099
Process
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Print 1099 Copy B
• Generate the Copy B Report to send to
vendors (AP_COPY_B)
• Run the APCOPYB job
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AP_COPYB PSJob
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AP_COPYB PSJob
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AP_COPYB PSJob
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AP_COPYB PSJob
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AP_COPYB PSJob
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AP_COPYB PSJob
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Additional Steps
• Review, print and send Copy B Reports to
vendors
• Send IRSTAX.001 file to IRS
– Reference IRS Publication 1220 for instructions on
sending your file.
– http://www.irs.gov/pub/irs-pdf/p1220.pdf
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GeorgiaFIRST Wimba Training Series
WTHD_SENT
• Finalizes the 1099 reporting and file creation
process
• Records all data in the file you have sent in the
Withholding Sent tables and deletes data from
the Withholding to Send tables
• Do not run this process until you have sent file
to IRS and received confirmation of
acceptance by the IRS
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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GeorgiaFIRST Wimba Training Series
WTHD_SENT
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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GeorgiaFIRST Wimba Training Series
Common Problems & Solutions
• Complete steps in order of flowchart
• How to save a file
• http://www.irs.gov/instructions/i1099gi/index.html
• http://www.irs.gov/pub/irs-pdf/i1099msc.pdf
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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GeorgiaFIRST Wimba Training Series
1099 Processing User’s Guide
• Step-by-Step guide for 1099
• Update for 2011 with minor changes
• Located on GeorgiaFIRST website:
– http://www.usg.edu/gafirst-fin/documentation/
– Under 1099
• Includes a checklist.
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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GeorgiaFIRST Wimba Training Series
Q&A
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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GeorgiaFIRST Wimba Training Series
Wrap Up
• Objectives
– Reviewed the changes and modifications in the
1099 process from the previous year
– Walked through the 1099 process, detailing what
to look for and best practices for processing
– Introduced users to 1099 Processing User’s Guide
• Archive
• Follow-Up Survey
© 2010 Board of Regents of the University System of Georgia. All Rights Reserved.
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