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SAP ByDesign 1099 NEC Tip Sheet for 2021

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How to Setup and Create Form 1099-NEC and File Form 1099-NEC is a requirement for companies for the 2021 tax year to report nonemployee compensation. SAP Business ByDesign has implemented changes to generate both the Form 1099-MISC and 1099-NEC. This tip sheet provides step-by-step instructions on the setup of the Tax Arrangement for Form 1099- NEC, create the Tax Return, and release and print the Tax Forms and generate the 1099-NEC's Form 1096 submission file. System Assumptions: 1099-MISC is currently setup within the users SAP BYD Tenant. Prerequisites: PA: The withholding tax is setup on all suppliers. P1A: Navigate to Supplier Base WoC > Suppliers P2A: Choose Desired Supplier > Click Edit > Financial Data

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