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Verify 1099 information with the 1099 Report

You can verify that you have correct information for your Form 1099-MISC using the QuickBooks 1099 Report .

Create the 1099 Report using the following steps:

From the Reports menu, choose Vendors & Payables, choose 1099 Summary. (For older versions of QuickBooks, choose Reports, choose A/P Reports, and choose 1099 Report.) If necessary, change the date range in the Dates field. Examine the report for missing 1099 vendors, and then select All vendors from the first pop-up menu to the right of the date field. Any 1099 vendor not appearing on the report needs to be set up correctly.

Setting up 1099 Vendors.
If all missing 1099 vendors uncovered in step 3 have been set up, yet some 1099 vendors are still missing, select Only 1099 vendors from the first pop-up menu and All allowed accounts from the second pop-up menu. Double-click any amount in the Uncategorized column of the report to open the 1099 Detail Report. Check to see if any accounts need to be set up as 1099 accounts by examining the Account column of the 1099 Detail report. Set up the 1099 accounts, if necessary.

Setting Up 1099 Accounts.
If you see any transactions that should have been assigned to a different account, double-click the account to edit it. When you are finished close the 1099 Detail Report to return to the 1099 Report. Select Only 1099accounts from the second pop-up menu. You should now see all expected 1099 vendors to whom you have paid amounts that total or exceed the threshold for the 1099 category. If a vendor is still missing, select Ignore thresholds from the third pop-up menu. The vendor may not have met the threshold for the year.


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Contact:
Joanne Resnick CPB
Advanced Certified QuickBooks® ProAdvisor 
info@bookkeepingresources.com