You can update your accounts for 1099 by adding them to the Chart of Accounts and mapping them correctly in the Vendors list, Dawn. Let me share more details about it.
QuickBooks uses the expense accounts you mapped to report 1099 transactions when creating 1099s. If you're uncertain about which accounts to use, it is advisable to seek guidance from your accountant to ensure accurate mapping.
To add an account to your chart of accounts, follow the steps below:
- Go to the Gear ⚙, then select Chart of Accounts.
- Select New.
- Enter a name in the Account name field. (ex. 1099-NEC Federal Income Tax Withheld)
- Select the Account type ▼ dropdown, then select the type of account.
- Choose the Detail type ▼ dropdown, then select the appropriate detail type. Learn more about detail types.
- Optionally, enter a description in the Description field.
- Click Save.
You can repeat this process for each new account to be reported on the 1099-NEC or 1099-MISC. For more details, open this link: Modify your chart of accounts for your 1099-MISC and 1099-NEC filing.
Once done, you can now map your 1099 and ensure to choose the right expense account. Here's how:
- Go to the Expenses menu at the left navigation panel and click Vendors.
- Click the Prepare 1099s option.
- Hit the Confirm info and start filing.
- Select the accounts that you want to include in your 1099. You can also click the Select Account option to search for other accounts and click Next once done.
- You can click Preview. Once done, click Next.
- Click Continue to e-file or No, I'll print and mail.
For detailed information, visit this article: Create and file 1099s with QuickBooks Online. It also includes specific steps to help you view your filing status. In case you need to change or modify 1099s, refer to this guide: Correct or change 1099s in QuickBooks.
Additionally, I'm including these articles to help answer the most commonly asked questions about 1099s and how to print them in QuickBooks:
If you have any further questions about tracking 1099 or any other related issue, please ask in the comments below. I'm here to help you out. Take care and have a great day!
