Hello,
My company and I are having trouble pulling in the sales tax at the document level for the 1099 Year Details (AP654500) report in the Payables Module.
Would anyone have any ideas how to pull not only the bill detail amount, but the bill total including tax total. We have tried enabling the pay by line feature on the vendor and vendor class, but that didn’t solve our issue. Thank you, and I would appreciate any insight into this!
Example:
Best answer by Laura03
Hello
I’ve been thinking about your post. Disclaimer: I am not a CPA or a Tax Accountant. I have worked in ERP in the US for many years.
Are you sure your 1099 needs sales tax included? Have you discussed with your Tax accountant?
I think it’s normal for Sales Tax to be left out of 1099’s. 1099’s are used by Vendors to report Revenue to the US government for taxing purposes. Sales Tax is not revenue; sales tax is a pass-through expense. (Sales Tax is collected by your vendor and paid out to the US government in the same month.)
I tried to find information on IRS website. 😐 To me, it’s not clear - seems like IRS says include Sales tax, and then says don’t include sales tax in the same paragraph. Please discuss the information on this link with your firm’s Tax Accountant/CPA or call IRS directly.
Good luck.
Laura
+19Hello
I’ve been thinking about your post. Disclaimer: I am not a CPA or a Tax Accountant. I have worked in ERP in the US for many years.
Are you sure your 1099 needs sales tax included? Have you discussed with your Tax accountant?
I think it’s normal for Sales Tax to be left out of 1099’s. 1099’s are used by Vendors to report Revenue to the US government for taxing purposes. Sales Tax is not revenue; sales tax is a pass-through expense. (Sales Tax is collected by your vendor and paid out to the US government in the same month.)
I tried to find information on IRS website. 😐 To me, it’s not clear - seems like IRS says include Sales tax, and then says don’t include sales tax in the same paragraph. Please discuss the information on this link with your firm’s Tax Accountant/CPA or call IRS directly.
Good luck.
Laura
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