QuickBooks Online 2024: Prepare 1099 Forms
ฝัง
- เผยแพร่เมื่อ 4 ส.ค. 2024
- Alicia’s 1099, QuickBooks Payroll, and QB Time Course bundle:
learn.royalwise.com/visitor_c...
Coupon for 10% off: QBT1099PAYROLL
Learn a out Forms 1099-MISC and 1099-NEC through QuickBooks
Table of Contents:
00:00 Intro to Alicia Katz Pollock
01:40 IRS Filing Requirements for 1099's
02:08 Contractors Screen
03:30 Invite a Contractor to send the W-9
05:04 Edit and Track Contractors
06:11 Prepare 1099 ("Wizard")
07:20 Map expense accounts to tax forms 1099-NEC or 1099-MISC
12:51 New 1099-related reports
13:05 Preview Tracked vs. Not Tracked for 1099
15:08 Non-US Contractors?
15:50 Editing Reportable info
18:42 Previewing Forms
20:03 Pricing to file 1099's through QuickBooks
24:02 About Alicia's full payroll/time/1099 courses - วิทยาศาสตร์และเทคโนโลยี
Helpful post.Thanks, Mr. Hector Garcia CPA, for arranging such a kind video with your friend.
Any time!
Thank you both so much for your overview. I was just training someone o my staff and this video covered everything I wanted to cover. I’m a big fan! Love the podcast too.
:)
This is so helpful. Thank you both!
:)
very helpful. thanks for sharing.
You're welcome!
Thanks... It was very helpful
Glad you like it
Thanks hector!
:)
Thank you both for so helpful video. You saved my job!! 🤣
:)
Super great video so informative. Just a question when is the corrections be available?
This month supposedly
Thank you so much Hector & Alicia. I have a correction already on one of my 1099's I filed & was accepted. I can't find anywhere the instructions for a correction. Was hoping to correct this before the 1/31 deadline!
We think that is coming out in February
Very helpful
:)
Thank you so much for the wealth of information.
Hector, could you please create a video on How to properly record ERC Payments received from the IRS in QuickBooks Online? Thank you.🙏
Simply, enter a reduction to Payroll Expenses
Thanks this was helpful. I need to research Corp S now, because it seems that that would be excluded.
Scorps have to issue 1099s as well.
Hector Bendiciones me sirvio mucho la explicación muy precisa, Saludos.
:)
Great video. Thank you. Is there anyway to set the payment method field when categorizing transactions or in batch later? I have not found an efficient way to set the payment method. In fact I found no way other than to go into each transaction and set it there. I wish there was an option to set the payment method using the bank rules.
Its one by one.. no built-in tools to reclass
thank you, Hector very helpful. Can you do a video for state filings California state?
I wont do any state 1099 fillings
thanks for the great info! My question is the cost of using QBO to file 1099s if you don't subscribe and get it free. tax1099 charges much less per form at $2.33 each now and Alicia mentioned you can upload data from QBO to this program. For me as a CPA, using tax1099 is much more economical, especially if you are filing post 1/15/2024. Thoughts?
Tax1099 is chaper… but is more work, probably an extra 30 mins to 1 hour to use an outside system
Hector, can you recommend a training for people wanting to learn how to prepare personal, and small business taxes?
I dont know beyond going to a 4 year college
Excellent tutorial. Do I still need to file W3 and 1096 reporting forms? (Just 1 employee)
No
What if you paid a vendor via Zelle? Those payments don't show up in the 1099 payments. It looks like Zelle doesn't report the payment made either.
Zelle has to be reported
Hi Hector. Thanks for that prompt response! I'm reporting those zelle payments as an expense under "contractors," but the the Zelle payment doesn't show up when I go through the QBO process to send them their 1099. The only payments that show as "1099 eligible" are the payments I made to contractors with either a check or PayPal. Zelle show up as an expense in my books, but not in the 1099 section.@@HectorGarciaCPA
Thank you both. I have a couple of questions, what if someone loses thier 1099 how do I get them a duplicate? When you efile are you provided with a copy of the 1096 and the 1099's that go out to save in your records?
No 1096 to efile.
If you lose your docs. You can request the IRS
following
Is there any problem with doing some of the 1099s manually? I switched from desktop to online midyear 2023 and didn't realize I shouldn't be making journal entries for EFT bank payments so they weren't tracking on the contractors! Yikes. The required vendors tracked of course so it's about 1/2 and 1/2 tracked at this point.
No.. as long as its accurate
We filed our1099s for contractors via E-file on Quickbooks. How do I print each individual1099 for contractors copy?
I no longer see that option as we did last year. Will that be mailed individually from Quickbooks to Contractors? I
don't want to miss the January 31st deadline, for mailing everyone a copy.
Contact tech support! Without seeing what you did or didn’t do its impossible to say from here
Doing efile first time this year and so confused! Don’t I have to install Quickbooks web connector to efile??? I’m using Quickbooks desktop
And do I have to send an LLC (partnership) a 1099?
I have not done it with Desktop
Hi Hector, I filed our 1099s through QBO and all were accepted. I now have one that I have to amend but I'm reading through QBO support, "For 2023 1099-NEC or 1099-MISC forms: If you e-file your 1099-NEC or 1099-MISC with us, beginning in 2024, you can submit amended 1099 forms through QuickBooks Online. Check back later for instructions.". This is a bit frustrating. I'm at a stand still. Any insight or direction on what I can do?
Will be released on the next few days
Hector, I followed the instructions and printed two 1099 but I can't find the 1096. I am in NY, so I need to submit the 1096 Form. Thank you
There is no 1096 in QB
@@HectorGarciaCPA do you have any recommendations /options??
@@PilarGonzalez-xh7bv no. QBO doesn’t work for State 1099’s
Question what about if you paying people to zell or cash app do you still have to send number 1099?
Zelle, yes. All it does is move money in and out of your checking account. Cash app I'm not 100% sure, but accounts that hold a balance are usually treated as a 3rd party processor and do NOT need a 1099. I will have the verified answer to this and all other payment processors during the class.
Both zelle and cashapp personal transfers must be included if paid from a business for services.
I did the e-file of the forms and one of my Subcontractors contacted me to inform me that there was an error in her 1099-NEC, I have verified it and indeed she is right, I did not have one of my Chart of Account selected for the report, but now I can't find how to make the correction. Do you know how I can fix this situation? Thanks
They will release a corrections module next month
Can I file 1099 DIV on Quickbooks Desktop?
No
QBO is including credit card charges in reportable amounts!
It should not!
Hi Monica, where are you seeing this?
Thos is a NIGHTMARE... i paid my subs cash... and indicated that in the expenses... nothing shows up to chose any chart of accoubts... i just want to file the 2099nec with the feds
you may need to create those payments in a separate "Petty Cash Account"
Take Alicia’s full course on 1099, Timesheets, and Payroll: learn.royalwise.com/visitor_catalog_bundle/show/1202/1099-QB-Time-QB-Payroll?affiliate=3282945