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:
- Go to Contractors, then Contractors.
- Select the contractor you want to add payments to.
- Click the Pay with direct deposit ▼ drop-down, then Write check.
- Enter the info for the past payment, then click Save.
To add multiple payments at once:
- Go to Contractors, then Overview.
- Click Record payments.
- Select the contractors you want to add payments for.
- For each contractor chosen, enter the info for the past payments.
- 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.
