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Subject Author Date
1099 Carolyn 01-17-2008
Posted by Carolyn on January 17, 2008, 12:59 pm
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 I began using QB fall 2007. How can I enter previously paid vendor
amounts for 1099's?

Posted by Laura on January 17, 2008, 3:28 pm
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 <Carolyn> wrote in message
>I began using QB fall 2007. How can I enter previously paid vendor
> amounts for 1099's?

Where are your expenses for the first part of the year recorded? You need to
get them into for the full year. That will make doing your taxes easier.

Worst case, just use "write checks" to record the total amount paid prior to
your starting point in QB. Don't forget to map the accounts you want to
capture as well as specify that the vendor is 1099 eligible.


Posted by dpb on January 17, 2008, 4:34 pm
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Carolyn wrote:
> I began using QB fall 2007. How can I enter previously paid vendor
> amounts for 1099's?

QB can't output something it doesn't have... :)

As other respondent says, you'll have to enter past transactions for
these vendors that are 1099-reportable in order to have the necessary
data for QB to create the report from. Don't believe it will let you
modify the form directly (although I didn't try it as I don't have any
vendors set up to receive 1099s and didn't want to go to the trouble of
doing a sample case).

If there are a significant number of transactions, I'd probably lump
them into a summary entry for each vendor using whatever record system I
had prior to the start date for QB and use the general register to enter
that conglomerate figure along w/ the appropriate receipts to cancel the
entry. If there are only a limited number of transactions, entering
individual vendor invoices and then paying them will provide the detail
information for other uses, of course.

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