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Good day, @sgrewal116,
I can help you get started with your 1099 tracking preference. The process is a little bit complicated and may take a few steps to complete. However, I'm here to guide you through that.
First, you will need to create the check and assign the items for the $3200 gross amount and the discount of $700. To do that, follow the steps below:
- Go to the + New icon and choose Check or Expense.
- Under Item Details, add a service item for the contractor fee. Make sure to add this with the expense account that is elected for 1099. See this:
- On the next line of the expense, add the discount for fuel or fleet card (service item). Make sure the expense account used there is something you wouldn't track in the 1099 report. For me, I used a wash account to make sure it isn't tracked as income, neither an expense. See this:
- Make sure to add a negative amount for the fleet card (-700). See this:
To show you the result, open a 1099 Transaction Detail report. You will see that only the amount of $3200 is reported there, because we used a different account to post the $700 discount.
Let me know if you have other questions about this or need further assistance with the steps. I'll be right here to help you anytime. Have a good one!
