Ramp Bill Pay users now have the ability to manage their vendor tax information within Ramp, making year-end 1099 processing even easier.
AP Clerks and Admins will have everything they need, including Vendors’ Spend and Tax information, in one easy export from Ramp’s Bill Vendor page. Additionally, users looking to import tax information for multiple vendors at once can bulk upload vendor W9 information.
- Entering / Editing Individual Vendor Tax Information
- Viewing Vendor Tax Information
- Exporting Vendor Tax Information
- Bulk Upload Vendor Tax Information
Entering / Editing / Requesting Individual Vendor Tax Information
As an AP Clerk or Admin, navigate to the Bill Vendors section within the Vendors tab. Within the Vendor Details section for the desired vendor, there will be a new Tax Information section where you can click the Add Tax Information button to begin entering the necessary vendor tax details.
Alternatively, you can request Ramp to collect the details from your vendors on your behalf. Learn more about requesting details from your vendors here.
When entering the vendor’s tax information, you will need to select the vendor’s Federal Tax Classification and enter their Taxpayer Identification Number (TIN) and their Business Address.
Vendors can be classified as the following:
- Individual / Sole-Proprietor or Single Member LLC
- Trust / Estate
*For international vendors all other fields will be removed as 1099s are not required for them.
Based on the vendor’s Federal Tax Classification, their TIN will either be their
- Social Security Number (SSN)- only if the classification is Individual / Sole-Proprietor or Single Member LLC
- Or Employer Identification Number (EIN) - if the classification is not Individual / Sole-Proprietor or Single Member LLC
Marking vendors as 1099 vendors
Note: This feature is currently in Beta and has been rolled out to 20% of our customers. It will be rolled out to 100% by 1/9/2024. If you would like to be added to the Beta before then, please reach out to ramp.com/chat
Every vendor now has a toggle to indicate if they're a 2023 1099-able vendor. Ramp has automatically set this toggle based on 2023 year spend:
- If customers have sent $600 or more in payments to a vendor in 2023, excluding credit card payments, then this toggle will be ON, otherwise it will be OFF
- If a vendor is marked as a C-Corp / S-Corp, then this toggle will also be automatically set to OFF, regardless of payments sent.
Customers can manually toggle this on or off, except for vendors that are C-Corp / S-Corp, in which case the toggle will be set to off and disabled. Note that if a customer manually adjusts the toggle, Ramp will no longer automatically update the toggle based on payments.
Viewing Vendor Tax Information
After saving vendors’ tax information, you will be able to tell, at a glance, which vendors have collected tax information and which do not by viewing the new Tax Information column in the Bill Vendor table.
Exporting Vendor Tax Information
Ramp allows you to export your Vendor Tax information from the Vendors page. You can choose to either export a CSV of 1099 Vendors for 2023 only, or export a CSV of all bill vendors. Both exports will include tax details, if they have been filled in.
Since tax information includes sensitive information such as the vendor’s TIN, Ramp will require Multi-Factor Authentication (MFA) for both exports.
To begin, go to the Vendor table and click the download icon and select either "Export CSV of 1099 Vendors (2023)" or "Export CSV of vendors paid via bill, including tax details."
If you have not recently authenticated via MFA, a pop-up will appear and will ask you to authenticate via your configured authentication method (e.g. via phone or via email). After MFA, please click the download icon and select the export you want again.
CSV of 1099 Vendors (2023):
This file will only include vendors that have the 1099 Toggle set to ON. It will include a column with annual 2023, 1099-able spend made out to that vendor, excluding credit card payments, along with vendor's tax details (if they have been filled in). We recommending using this file for 1099 purposes. (NOTE: This is in beta as of 1/4 and will be available to all customers by 1/8)
CSV of vendors paid via bill:
This file will include all Bill Vendors, regardless of their 1099 toggle setting. It has columns "total spend" and "last 30 day spend," along with the vendor's tax details. The total spend exported will be the total Bill payment spend since the vendor's first Bill payment.
Bulk Upload Vendor Tax Information
If you would like to import tax information for multiple vendors at once you can bulk upload your vendors W9 information. Please note, tax information can only be uploaded for existing vendors. New vendors cannot be added from the bulk tax information upload.
Begin by clicking the three dots next to the New Vendor button and selecting the Bulk Upload Tax Information option.
From the Bulk Upload Tax Information section, you will need to download the template file and input the tax information for each vendor you would like to import information for. The following fields are required for successful upload:
- Vendor Name
Federal Tax Classification (choose from “Individual, “C-Corporation”, “S-Corporation”, “Partnership”, “Trust”, or "International"*)
*If "International" is chosen, all other fields in the file will be ignored as 1099s are not required for them.
- Taxpayer Identification Number (TIN)
- Tax Address Line 1 (Ex. “71 5th Ave”)
- City (Ex. “New York”)
- State/Province/Region (Ex. “NY”)
- Zip / Postal Code (Ex. 10003)
Note: The Vendor Name for all your existing Bill Vendors will be pre-filled within the downloaded template.
After uploading the completed template file, you will see a preview of the list of vendors you are importing and their associated tax classification. Verify that the information is correct and click the Add Tax Information button to complete the import and upload the tax information to the appropriate vendors.
Note: If any changes are required, you can correct the info in the template and re-upload.
Legal: Ramp does not provide accounting or tax advice. Please work with your accountant to determine the tax requirements applicable to your business.