visitor activity monitoringwebsite tracking

QuickBooks Tips

QuickBooks Tips > Setup and Customization Tips > How to set up accounts for contractors that will be given 1099s.

How to set up accounts for contractors that will be given 1099s.

The first thing you must do is tell QuickBooks that you will be issuing 1099s. Click on Edit (from the menu bar), then Preferences. Scroll down until you find the picture that says "Tax:1099" and click on it. On the Company Preferences tab, answer yes to the question about the issuance of 1099 forms, then follow the rest of the instructions on this screen.

Next, you'll need to identify those vendors who are eligible to receive a 1099. Click on Vendors, then Vendor List. Double-click on the first vendor in the list, then the "Additional Info" tab. In the lower left hand corner, put a check mark in the box that says "vendor eligible for 1099" and enter their tax ID number they have provided. Repeat this process for any vendors that need to receive a 1099.

Finally, to run the 1099's and related information, click on Reports, then Vendors, then either of the 1099 reports. Verify the data, correct if necessary, and print your 1099's all within QuickBooks.

It's important to review this topic with your accountant to ensure you are collecting the proper information and preparing the 1099 forms correctly for your business.

Previous Tip - Back to tips - Next Tip


Get In Touch

At LVS CPAs & Associates, P.C., we've been serving the accounting needs of Zeeland, MI and the surrounding areas for years. If you need help managing any aspect of your home or business's finances, we want to hear from you.

Please fill out this form and let us know how we can be of service. We will happily offer you a FREE initial consultation to determine how we can best serve you.

Thank you for visiting. We look forward to working together!

LVS CPAs & Associates, P.C.

300 S State Street Suite 11,
Zeeland, MI 49464
T: (616) 772-2846
F: (616) 772-0778
E: info@lvspro.com

Connect

Facebook  LinkedIn  Twitter 

© 2021

Search  Site Map  Privacy Policy  Disclaimer
Back to top

Get In Touch

Client Portal Login

Subscribe to our Newsletter