Contractor pay tracker and not creating the negative balance in Quickbooks

I'll help track payments so you have a 1099 report in QuickBooks, Joshual23.

In QuickBooks, you can add each check or enter bulk payments for contractors. Here's how:

To add one payment at a time:

1. Go to Contractors, then Contractors.
2. Select the contractor you want to add payments to.
3. Click the Pay with direct deposit ▼ drop-down, then Write check.
4. Enter the info for the past payment, then click Save.

To add multiple payments at once:

1. Go to Contractors, then Overview.
2. Click Record payments.
3. Select the contractors you want to add payments for.
4. For each contractor chosen, enter the info for the past payments.
5. When finished with each contractor's payments, hit Record Payment twice.

Now you can create a 1099 report and file the return in QuickBooks. I'm adding this article for instructions and detailed steps: Learn how to prepare and file your federal 1099s.

About deleting the negative $451,500 amount, you'll want to check first where this amount is coming from. If this is a valid entry, we don't recommend removing it from the system. 

I suggest consulting your accountant if it's okay to delete the entry. Then, you can follow this article about how to remove a transaction that doesn't affect your account balances or reports: Void or delete transactions in QuickBooks Online.

Get back to me if you have additional questions about tracking contractors payments in QuickBooks. I'm always here to help. Have a great rest of the day.

@Joshual23 

I would recommend to prepare the Checks data with the following template

then utilize an importer tool to proceed

https://get.transactionpro.com/qbo