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R
Ruby Kaye
January 17, 2024
Question

1099's

  • January 17, 2024
  • 1 reply
  • 0 views

Help! 

This is the first time I am doing the 1099's and my boss has instructed me to use the QBO it will be very easy. We merged with Procore in the spring and so I have vendors that are checked for tracking for 1099's but they do not show up in my 1099 under reportable payments and another example of  a issue is we have several vendors that have been paid prior to us using Procore and the only payment showing up is the ones prior because all it shows is the accounts we were using in QBO it does not show the cost codes that are used in Procore and now in QBO. I am already very nervous about doing these but now I really do not know how to handle. Procore has told me I would need to reach out to you all. 

Thanks 

1 reply

S
SheandL
January 17, 2024

Hello there, Ruby.

 

I recognize the importance of resolving this issue regarding 1099s not appearing in your reportable payments in QuickBooks Online. To begin with, several payments will appear on your 1099 report, like cash, checks, and ACH. Also, only those contractors that that meet the cash threshold of $600 can get a 1099. Please know that credit cards, debit cards, or third-party systems are excluded from the 1099-MISC and 1099-NEC calculation.

 

To ensure these payroll forms appear in QBO, you can review the expense account you mapped to report the 1099 transactions. To check this, you can follow the steps below.

 

If you're using QBO and QBO Contractor Payments, you can use these steps: 

 

  1. Go to Reports.
  2. In the search field, write Transaction List, then select Transaction List by Vendor.
  3. Click Customize, then set the Report period to Last Year (or Last Calendar Year).
  4. In the Rows/Column section, hit the Change columns link, then tick the box beside the Split.
  5. Click Run report. 
  6. Look under the Splits column for what accounts the vendor's transactions were tied to. If you see the word "SPLIT," select the transaction to see details on what accounts were affected. Access the Bill to see what expense accounts were affected if this is a Bill Payment.

 

If you're only using QB Contractor Payments without QuickBooks Online, please refer to these steps:

 

  1. Go to Contractors, then select Contractors.
  2. Choose the View all contractor payments. 
  3. Open each payment to view the Category. This account should be mapped when you create 1099s.

 

For reference, check out Step 3 of this article: Troubleshoot missing contractors or wrong amounts on 1099s.

 

Additionally, if the payments won't populate even after doing the steps mentioned, you can reach out again to the Procore support team to further check the transactions.

 

To know more about what to prepare for this year's payroll, you can check out this article for information: Year-end checklist for QuickBooks Online Payroll.

 

Don't hesitate to get back to us if you need further help with this issue. We're always here to assist you anytime.

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