Hello there, @Nazmul09.
Thanks for the complete details you've provided above. This way, I can guide you on the actions you need to take care of the issue.
Pulling up 1099 reports lets you see the following information in QuickBooks Online (QBO):
- Vendors you set up for 1099s.
- Payments to those vendors that you need to report to the IRS.
- Payments you don’t need to report because a financial institution reports them for you.
You can start fixing your 1099 transactions by checking the expense account you used for the bill payments. You'll have to open the payments and make sure to map them to the right account. To do this, you can pull up the Transaction List by Vendor report from the Reports menu.
After that, map the payments to the boxes that represent the type of payments you made. Let's go pull up the 1099 report through the Prepare 1099s option. Here's how.
- Go to the Expenses menu.
- Select Vendors.
- Click Prepare 1099s.
- Choose Let’s get started or Continue your 1099s.
- Follow the steps to prepare 1099s. The report you’re looking for is on Step 4: Review - Check that the payments add up.
After that, you can also run the 1099 transaction report again from the Reports menu. This is to check that the payments are recorded accordingly.
I'm also adding this article to learn more on what to do if you need help when creating your 1099s in QBO: 1099 Summary Reports. It also includes related topics to effectively monitor vendor transactions.
You're always welcome to comment below if you have other 1099 concerns in QBO. I'm just around to help. Take care.
