Make any vendor a withholding vendor by selecting the Withholding check box on the Vendor Information - Identifying Information page, and by transferring to the Withholding Vendor Information page from the Vendor Information - Location page, on which you select the appropriate withholding entities and enter the associated withholding control information. You can also define withholding codes, which you can use to override the withholding information that defaults onto the voucher from the vendor these, too, are combinations of withholding entities, types, jurisdictions, and classes.Īs a final step, set up the withholding reports to meet your reporting requirements. vendor may be subject to both 1099G and 1099MISC withholding. You can assign more than one combination to a vendor. You apply combinations of withholding entities, types, jurisdictions, classes, and rules to your withholding vendors when you define them. Under the withholding entity, define the withholding remit vendor or vendors, assign the combination of withholding types, jurisdictions, classes, and rules that apply, and define the type of control information required from the vendor to process the withholding. Set up the appropriate withholding rules, classes, types, jurisdictions, and entities. You complete the withholding process as follows: The following diagrams illustrate the general process flow for withholding in PeopleSoft (the withholding process for your location may differ slightly):
The system creates reporting information from the posted withholding transactions, enabling you to generate withholding reports, withholding certificates, and/or files as applicable. To generate withholding reports, you need to post your payments (either using the Voucher Posting process or the Payment Posting process) and then post your withholding transactions. The system calculates the actual withholding amounts as part of the Payment Posting Application Engine process (AP_PSTPYMNT) or the Voucher Posting Application Engine process (AP_PSTVCHR) depending on your withholding entity setup or withholding override options at the voucher.
The setup information you provide defaults onto the applicable voucher lines. To use withholding in PeopleSoft Payables, you must set up your withholding environment, complete your business unit withholding setup, and set up your withholding vendors. Our withholding architecture enables you to meet the varying withholding requirements of different countries.
PeopleSoft Payables and PeopleSoft Real Estate Management withholding behavior.
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