Categories
1099 Vendor Vendors

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 (at the bottom) > side arrow will move down and expand with more information > select “Print Information Sheet” blue button (at the bottom).

It will show printable “1099 Information Tax Year 2014” report.

print using purchased forms
print information sheet
1099 information report


Updated 12/10/2015:

It used to be able to preview the 1099 Summary Report without having gone through all the prepare 1099 steps. There is no way to preview accounts and vendors meeting the threshold without going through the prepare 1099s steps now. It is not clear why the “1099 Transaction Detail by Vendor” is not even a built-in report at this time.

To run this report (go through all the steps), click on the Box 7 payment amount by any vendor to get a vendor report to support that value. See attached screenshots below.

prepare 1099s
1099 transaction

If you want to run this report for another vendor, you will need to do it all over again. Would not it be nice if they have the simple build-in “1099 Transaction Detail by Vendor” for ALL the vendors in one customize format?

Send them your feedback before it’s too late for this year.
Gear (upper right corner) > your company > FEEDBACK.

 

Related article:
What to exclude transactions on 1099-MISC forms when you pay an independent contractor?

Categories
Vendor Vendors

Where & how do I enter new W-9 information for sub-contractors in new QuickBooks Online?

Partial information from W-9 goes to Vendor Information screen. You need PLUS level subscription.

Most important info is to enter tax ID and “track payments for 1099” checkbox.

There is no way to actually attach actual W-9 form at this time.

If you feel this feature should be added to future revision, please make your voice heard by sending your feedback.

vendor info tax id
vendor info tax id
vendor prepare 1099s
vendor prepare 1099s
vendor prepare 1099s follow steps
vendor prepare 1099s follow steps
Categories
Vendor Vendor Credit Vendors

I returned items that were ordered for customer job and charged to my bank debit card. They will be refunded back to my bank debit card. How do I enter this credit into QBO back to customer job?

It is kind of hard of believe they do not have designated “Debit Card Credit Form” (or Expense Credit Form), just like one they have for Credit Card Credit Form.

I am not excited to give this way-around approach, but it will work especially recording credit for customer job related return.

#1 create new credit card type account. Call it “debit card clearing account” (or something similar). This has be to under CREDIT CARD Type.

#2 use credit card credit form (create + sign > vendors > credit card credit form). select this newly created “debit card clearing account” just like you select other credit card name when you return products paid by credit card. This will record credit return for the customer job. It will leave with negative balance.

#3 This one is extra step you need to do. GO to “Transfer” form (create + sign > other > transfer).

Tranfer Funds from = Debit Card Clearing Account from the drop-down list

Transfer Funds to = Selection of bank account used for debit card from the drop-down list

With step #3, debit card clearing account will have zero balance. Bank account should correctly reflect deposit amount.

Done. Everyting accounting wise should be work fine.

If you like to see “Debit Card Credit” form (or Expense Form paid by Debit Card) added in future revision, add your voice here. Remember, they make improvements based on your feedback.

From the home page screen > company gear (upper right corner) > your company > feedback

Note: Just for recording debit card credit for return (and if customer job is not relevant), you can go to bank register and enter as bank deposit. Or use Bank Deposit Form (create + sign > Other > Bank Deposit

debit card clearing account

debit card entry using ccc form

debit card transfer

debit card register

Categories
Vendor Vendors

Where & how do I enter new W-9 information for sub-contractors in new QuickBooks Online?

Partial information from W-9 goes to Vendor Information screen.

Most important info is to enter tax ID and “track payments for 1099” checkbox.

There is no way to actually attach actual W-9 form at this time.

If you feel this feature should be added to future revision, please make your voice heard by sending your feedback.

w-9 information
w-9 information

helpful videos

Categories
Bill Check Expense Settings Vendor Vendors

What happened to the “Items” tab when I enter bills?

show items table on expense and purchase forms on 2
show items table on expense and purchase forms on 2

If you see “Bill” form with account only and there is no  “Item Details tab” separately,  it usually means “Show Items table on expense” setting is turned off.

In order enable Show Items table on expense and purchase forms:

From the home page screen

  • Select the Company Gear (upper right corner)
  • Select Settings
  • Select Company Settings
  • Select Expenses
  • Select Bills and Expenses
  • Select Show Items table on expense and purchase forms
  • Check box to enable setting ON
  • Save
show items table on expense and purchase forms on 2
show items table on expense and purchase forms on 2
Categories
Vendor Vendor Credit Vendors

How should I really enter refund by a Vendor in new QuickBooks Online?

I followed the refund by a vendor. I entered as a deposit. But then it does not show in the vendor’s transaction listing. How should I really enter this type of transaction?

At this point, they do not have have any designated way to record this transaction. It is just work-around approach to show in the Vendor Center’s transaction listing.

#1 Create Vendor Credit
From the home page screen

  • Select “Vendor Credit” tab under Vendors heading
  • Choose a vendor
  • Make sure account selection (that be entered as account for credit entry) is the same as original account. This is to show applying credit to the same account. For example, you bought printer and expensed it to Computer Expense account . Returned it and received refund for the returned item. Use the same account to credit the refund from the vendor.

#2 Show Bank Deposit for Refund
From the home page screen

  • Select “Bank Deposit” tab under Others heading
  • Choose Bank account for deposit
  • Received From = Name of Vendor from the drop down list who gave you refund
  • Account = Accounts Payable from the dropdown chart of account
  • Amount = refund amount deposited to the bank
  • Enter other related information
  • Save

#3 Unncessary extra step but got to do it

GO back to Vendors Center (blue navigation bar > Vendors > Locate specific Vendor), you will notice “1 Open bill” message under Pending Bills for that Vendor. This could be flawed in QBO design at this time.

  • Select “Make payment” button under “Action” column
  • New “Bill Payment” screen will open
  • You will notice in and out with zero amount transaction
  • Change Ref number to “blank”
  • Save and Close

“1 Open Bill’ message is gone now.
Again, this is unncessary step in new QuickBooks Online.

How should I really enter refund by a Vendor in new QuickBooks Online QBO

Categories
Vendor Vendor Credit Vendors

How do I apply a specific vendor credit when paying vendor bills? We have several vendor credits against this vendor.

Do not use “Paying Bills” feature when you want apply a specific vendor credit.

It seems there is even a design flaws on “Paying Bills” feature when it comes applying a specific vendor credit when you’ve multiple vendor credits in Vendor’s account. Credit column provides no ability to select specific reference to available vendor credit.

Alternative solution is to create payment Check from the Vendor’s Center.
From the home page screen

  • Go to blue navigation bar on the left
  • Select Vendors tab
  • Select Vendor that needs to be paid
  • Select checkbox of “Bills” need to be paid and also select checkbox of Vendor Credit to apply against this payment
  • GO to Create New button (far right) and select “Check” from the drop-down
  • It will take to new Check#To Print screen
  • Go to far right and select “Add All” under “Add to Check”
  • It will show paid check amount with outstanding bills as well as specific referenced credit
  • Choose “Print Check” at the bottom
  • Choose Preview and Print (bottom right corner)
  • Select Print button

Vendors – how to apply a specific vendor credit against vendor bill payment in new QuickBooks Online

Categories
Bill Vendor Vendors

How to set up vendor payment term where all bills are due month-end of the following month? For example, April vendor bills are due on 31st of May.

To setup “Term” in new QuickBooks Online:

From the homepage screen

  • Select the Company Gear (upper-corner)
  • Select “All Lists” under Lists heading
  • Select “Terms”
  • Select “New” button
  • New Term screen will open

Name = Due following month end (or name as needed)
Select “Due following month end”
Enter “31” day of month
Under Due the next month if issued within
Enter “31” days of due date
Save

See screenshot for reference.

Note: Term will apply to both Vendors and Customers.

Due following month end
Due following month end
Categories
Vendor Vendors

How to post payment against a vendor before invoice received?

If you are trying to post payment by CHECK against a vendor/supplier before invoice received, see this will work for you.

From the home page screen

  • Select Create “+” sign (upper-middle)
  • Select Check form under Vendors
  • Select Vendor/Supplier and provide other information
  • Select Account = Account Payable Under Account Details header
  • Save

This will leave credit balance against that vendor/supplier on Accounts Payable account. So, you will to enter actual expense bill to clear this credit A/P balance.
If you are paying by credit card or debit card, the whole process is the same. Just choose “Expense” form under Vendor header.

Pay Vendor by Check b4 Invoice
Pay Vendor by Check b4 Invoice
Vendor Center Advance Payment
Vendor Center Advance Payment
Categories
Vendor Vendor Credit Vendors

How do I add a credit for a vendor (supplier) without any open bills? I also like to see this credit in Vendor’s Center.

It involves three steps process.

Step # 1
Issue Vendor Credit
(+ sign > Vendor Credit under Vendors)
Make sure to use the same account originally used

Vendor Credit
Vendor Credit

Step # 2
Deposit refund to the bank
(+ sign > Bank Deposit under Other)
Received From = Vendor’s Name
Account = Accounts Payable (A/P)

Deposit
Deposit

Step # 3
To clear A/P as Bill payment (step # 1 and step #2)
Why step# 3 > step # 2 bank deposit does not apply to specific bill
select Vendors > locate Vendor > click “Make Payment” button, far right > Bill Payment screen will open with zero amount> Save and Close

Bill Payment
Bill Payment