I'm having 2 issues with the 1099 report:
1) Some of the contractors show no compensation, even though there were payments made to them during the year.
2) Some contractors show partial compensation, not all the payments made to them are reflected in the report.
I paid the vendors with both checks (from one bank account) and also through Venmo if that matters.
The payments were assigned to an expense account "Contractor Fees" which I mapped to "1099-MISC: Nonemployee compensation."
Any thoughts on how to troubleshoot this?
Are the payments of a type that is reportable (basically cash or checks)?
Do they use the accounts you've mapped to the 1099 boxes?
What type of account on your chart of accounts is your Venmo account and what type of transactions are you using to record those payments?
Hi there, @jcellis5716.
It's good to have you here in the Community. I can provide some troubleshooting steps to get this to get this 1099 issue sorted out.
There are some possible reasons why the amounts are incorrect on your 1099. These are the following:
To learn on how to fix this issue, please refer to these articles for some troubleshooting steps:
However, if you need assistance with this procedure feel free to reach out to our Customer Care Team. They have an extra tool to check transactions and verify what's causing the problem.
To do that:
This should get you on track.
Please let me know if there's anything else you need. I'll be around to help you out. Have a great day!
BettyJane Thank you for your help. I checked all the vendors to make sure they are eligible for 1099s, and they are. They are all paid from the expense account "Contractor fees" which has a tax-line mapping of "1099-MISC: Nonemployee compensation. Their total compensation is way over the $600 limit. I hadn't thought about the Vendor vs Other, but I've check it and they are all vendors. I believe the problem is that they have been paid out of a Venmo Account which I built in the Chart of Accounts as a "Credit Card". The payments they received on check's are all on the 1099 report, but none of the Venmo payments. We reimburse Venmo from the checking account. Should I delete the Venmo account and just enter all the vendor payments into the checking account with "venmo" as the check number? That may be the simplest way to fix this. Although I don't see why QB won't work with the Venmo account.
Hello there, @jcellis5716.
I appreciate you coming back to us for additional support. Allow me to join this thread and share some more insights about the transactions included in 1099s.
Only bill payment and check transactions are included in 1099s. Transactions marked as credit card, debit card, or PayPal transactions will not be included.
Yes, you can delete them and re-enter under the checking account. Before that, I recommend create a backup copy to secure your company file and prevent data loss.
That should correct your recordings and help you pull up the 1099 forms, jcellis5716.
Keep me posted if there's anything else you need or if you have follow up questions. I'm still here to help you further with 1099s. Wishing you all the best.