How do you set up multiple accounts for 1099 MISC Box 7 in Quickbooks Online

You can select “Multiple accounts” to report in Box 7 on the 1099Misc. You should see that option with the Prepare 1099s under Accounts #2 tab (see screenshot).(From the left dashboard > Expenses > Vendors > Click Prepare 1099s at the top right right corner > Continue your 1099s > Go to #2 Accounts > […]

Prepare and file 1099s in QuickBooks Online Plus Subscription

Prepare and file 1099s in QuickBooks Online Plus Subscription QuickBooks Help for filing 2016 1099-MISC forms. From the article: We’ve created this guide to help you prepare, distribute, and file 1099-MISC forms for your vendors. See 1099 checklists and deadlines Prepare and file 1099s in QuickBooks Thank you for your business in 2016. Here’s to […]

What to exclude transactions on 1099-MISC forms when you pay an independent contractor

The basic rule is that you must file a 1099-MISC forms when you pay an independent contractor (sole proprietor type) $600 or more in a year payments you made by cash or check. ( https://www.irs.gov/pub/irs-pdf/i1099msc.pdf ) Beginning with the 2011 tax year, the IRS requires you to exclude from Form 1099-MISC any payments you made […]

Owner paid a subcontractor with his own money. How to make sure Vendor shows up on 1099 and still able to write the reimburse check to the Company Owner

First, you will need to create a new dummy bank account. You will also need a due to the owner as a liability type account to use it for later reimbursement. Step#1 Use bank deposit form (create + sign > other > bank deposit) to record contributed amount by the owner to pay a contractor. […]

How I can generate a 1099 summary report for non-employee compensation in QuickBooks Online Plus?

There is no built-in 1099 related summary report for non-employee compensation at this time Here is how you can get that information. Go to prepare 1099-MISC forms screen (blue navigation bar > vendors > prepare 1099s button (right corner) > “Follow the steps to prepare 1099-MISC forms” screen > Choose “Print using purchased forms” link […]

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