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Join nowWe are a non-profit organization preparing a 1099-NEC for an independent contractor for work performed in 2020. The final invoice was dated in December 2020, and we created a bill dated 12.31.2020. The payment was issued on 1.15.2021. The payment is matched to the bill, and appears in our 2020 total expenditures report and in our report of expenditures by vendor. However, when I run the 1099-NEC tool. The final payment is not included. Is this correct, or do I need to take another step to make sure that the 1099-NEC matches the vendor payment total for 2020?
Thanks for any help that you can provide.
Solved! Go to Solution.
Thanks for sharing your concern here in the Community, @BDDirector.
I can see why the final payment isn't included when you run the 1099-NEC tool because of the payment that was made on January 15, 2021.
To make sure that the 1099-NEC matches the vendor payment total for 2020, you'll need to change the payment date. Here's how:
You can now run the 1099 Contractor Balance Detail or Summary report to help you review your data before processing your 1099s.
You can also visit this year-end guide to help ensure that you're good to go before the end of the filing deadline: Year-end Checklist For QuickBooks Online Payroll.
Let me know if you need more help editing or adding transactions. I'll be here to assist you more.
Thanks for sharing your concern here in the Community, @BDDirector.
I can see why the final payment isn't included when you run the 1099-NEC tool because of the payment that was made on January 15, 2021.
To make sure that the 1099-NEC matches the vendor payment total for 2020, you'll need to change the payment date. Here's how:
You can now run the 1099 Contractor Balance Detail or Summary report to help you review your data before processing your 1099s.
You can also visit this year-end guide to help ensure that you're good to go before the end of the filing deadline: Year-end Checklist For QuickBooks Online Payroll.
Let me know if you need more help editing or adding transactions. I'll be here to assist you more.
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