I switched from QB Desktop to QB online in August 2023. I cannot correct the payments made prior to the update. How do I correct the 1099 info?

Thank you for reaching out to the Community, PGS23. 

When it comes to transferring the payments from your employee's account to the vendor account, you can use the clearing the account and/or Journal entry for this. Since this matter involves recording important information, I recommend reaching out to your accountant to avoid discrepancies and to ensure that the data being entered in the journal entry are accurate. 

Follow these steps to create a clearing account and/or journal entry: 

• Set up a clearing account

1. Go to the Gear icon located at the upper right corner and choose Chart of Accounts. 
2. Click the New option and choose an account. 
3. Fill out the necessary fields such as the Save account under, Tax from section, Account name, and Account number. 
4. Once done, click Save. 

• Create a journal entry

1. Go to the +New button located at the upper left. 
2. Under the Other column, click the Journal Entry. 
3. Select an account from the Account field. Type the amount in the correct column. This depends if you need to debit or credit the account.
4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
5. Ensure that the accounts are balanced or have the same number by checking the amounts on the Debit and Credit side.
6. You can also enter the reason for making these changes in the Memo field.
7. Once you're done, click Save and Close.

In addition, if you already filed your 1099s, you'll need to contact the IRS to seek advice on what forms you'll have to file. 

Furthermore, you can also use these materials to learn more information regarding journal entry and clearing accounts: 

• Create journal entries in QuickBooks Online
• Set up a clearing account

You can also reverse or delete a journal entry, with the help of your accountant, if you created the entry by mistake or if you need to fix a debit and credit error. 

If you need our help with any QuickBooks related concerns, feel free to do so by entering your inquiries in the comment section. We're more than happy to assist you.