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 >… Continue reading How do you set up multiple accounts for 1099 MISC Box 7 in Quickbooks Online
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… Continue reading Prepare and file 1099s in QuickBooks Online Plus Subscription
Box 16-18 is state information. QuickBooks does not do state information at all. The way around this box 16 issue in QuickBooks as I heard is one of two things: 1) Print the 1099 and hand write in the state information. OR 2) Use the internet based 1099 prep software that will allow for state… Continue reading How to access box 16 on form 1099 in QuickBooks Online QBO
How to File Taxes When You Have Both 1099 and W-2 Income QuickBooks From the article: According to a study by the Freelancers Union, over 53% of the U.S. workforce is involved in some kind of freelance work. And that number is expected to grow in the future …
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… Continue reading What to exclude transactions on 1099-MISC forms when you pay an independent contractor
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.… Continue reading 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
Year-end is quickly approaching. Be prepared for the year-end. Here is a 10-point checklist you should go through to keep your QuickBooks Online accounts in order and plan for the year-end processing. Helpful Checklist: Bank Reconciliations Make sure all bank reconciliations are up to date. This includes credit card accounts as well. Review any… Continue reading Preparing for year-end: Hints and Tips for QuickBooks Online (QBO) users
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… Continue reading How I can generate a 1099 summary report for non-employee compensation in QuickBooks Online Plus?
First, you need QuickBooks Online PLUS plan, to have prepare and print 1099s feature. To assign more than one account from your company Chart of Account: From the home page screen > go to blue navigation bar on the left > click Vendors tab > Prepare 1099s button (upper right side) > Assign Accounts >… Continue reading How can I assign more than one account from Chart of Accounts for my 1099’s?
Question: We like QBO to generate 1099 form for contractors who work for us, then prepare end of year statements to send to them and file with IRS. Which QBO will we need to prepare and print 1099s at the year end? Answer: You will need to subscribe to QuickBooks Online Plus. You cannot generate… Continue reading Which QBO will we need to prepare and print 1099s at the year end?