Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
Talk to Sales: 877-683-3280
Hours
Mon - Fri, 5am - 6pm PST
Sat - Sun, 7am - 4pm PST
Product support & help
Need help signing in?
J
jkope26
January 12, 2022
Solved

1099-NEC/MISC Mapping

  • January 12, 2022
  • 2 replies
  • 2 views

Hello,

I am starting to look at the 1099 feature in QBO, this will be my first year doing the forms in QB.  I am a little confused by how QB is mapping transactions to 1099-NEC or 1099-MISC.

It appears that any 1099 vendor that was coded to contractor expense is correctly getting mapped to a 1099-NEC.  But, with the exception of rent (which I know belongs on the MISC), there are transactions incorrectly being mapped to 1099-MISC.  These are transactions that hit other expense accounts such as production, marketing etc.

Is there a way I can change how these transactions are mapped for 1099 purposes?  I was looking in the COA setup but didn’t see how I could do this.

Any help would be appreciated, thank you!

Best answer by ChristieAnn 11

Hi there, jkope26.

 

Thank you for coming back to the thread to add some clarification about modifying accounts in 1099. With this, I'll ensure to share further details on how 1099-NEC works.

 

When preparing your 1099s you have the option to choose the box for the types of payments you made and the expense accounts you use for these payments. That said, QuickBooks will depend on how you set up the details on 1099. I suggest making sure that the accounts and boxes are properly mapped for both the 1099-MISC and 1099-NEC forms so QuickBooks will automatically determine the entries that should go to the 1099-NEC.

 

To ensure that you select the correct accounts and the records are in shipshape, I suggest consulting an accountant before properly mapping the tax form. They can provide suggestions on how to properly handle the transactions and the specific account to be used. 

 

You can open this article to view details on which payments are not included in the 1099 forms: Understand which payments are excluded from a 1099-NEC and 1099-MISC.

 

I'm also adding this article so you'll be able to see other related information about 1099 and be updated with this form: Get answers to your 1099 questions.

 

You can always post here in QuickBooks Community if you have other concerns or inquiries about 1099-NEC. I'm always here to make sure that everything is taken care of.

2 replies

MaryLandT
MaryLandT
Level 10
January 12, 2022

I'm glad to see you here in the Community Forum and help you map 1099 payments, jkope26.

 

You need to create another 1099-NEC and 1099-MISc expense accounts to separate payments. Then, enter a journal entry to move payments to the new accounts.

 

You can start by identifying the amounts paid and to which accounts. Here's how:

 

  1. Go to Reports from the left menu.
  2. Search and open the 1099 Transaction Detail Report.

 

Run the report and verify the amounts are showing in the correct accounts for the 1099-NEC and 1099-MISC. This will allow you to map the accounts as you go through the 1099 process.

 

You can also use the 1099 Contractor Balance Detail or 1099 Contractor Balance Summary reports if either of them adds more information.

 

Once done, add new accounts and move payments to them or to the existing ones. Please browse this link for complete instructions: Modify your chart of accounts for your 1099-MISC and 1099-NEC filing.

 

To help you select which form to use for your payments, here's a link as a guide: Understand payment categories for the 1099-MISC and 1099-NEC. It'll tell you which boxes are for the payment type.

 

Let me know if there's anything else you need about mapping 1099 accounts. Simply leave a comment below, and I'll get back to you.

J
jkope26Author
January 12, 2022

thanks.  i already read the article about modifying the Chart of Accounts and i find it very confusing. 

for example, right now i have 1099 vendor whose original transaction hit the "Marketing Expense" GL account.  this is being now being mapped to 1099-MISC but really should be 1099-NEC.  If i create a new account (and call it Marketing Expense- NEC or something like that?) in our chart of accounts and move the transaction to the new expense account, how does QB then know that the transaction should go to 1099-NEC?  

C
ChristieAnn 11Answer
Level 9
January 12, 2022

Hi there, jkope26.

 

Thank you for coming back to the thread to add some clarification about modifying accounts in 1099. With this, I'll ensure to share further details on how 1099-NEC works.

 

When preparing your 1099s you have the option to choose the box for the types of payments you made and the expense accounts you use for these payments. That said, QuickBooks will depend on how you set up the details on 1099. I suggest making sure that the accounts and boxes are properly mapped for both the 1099-MISC and 1099-NEC forms so QuickBooks will automatically determine the entries that should go to the 1099-NEC.

 

To ensure that you select the correct accounts and the records are in shipshape, I suggest consulting an accountant before properly mapping the tax form. They can provide suggestions on how to properly handle the transactions and the specific account to be used. 

 

You can open this article to view details on which payments are not included in the 1099 forms: Understand which payments are excluded from a 1099-NEC and 1099-MISC.

 

I'm also adding this article so you'll be able to see other related information about 1099 and be updated with this form: Get answers to your 1099 questions.

 

You can always post here in QuickBooks Community if you have other concerns or inquiries about 1099-NEC. I'm always here to make sure that everything is taken care of.

P
Pena
January 27, 2022

Hello,

Not sure if you figured this. out yet but I ran into a similar issue. QBO has mapped all my vendors that I had under a expense account to Fed tax withheld so all vendors that was paid showed as if I withheld all the money I paid them!  This caused reports not to show these vendors as qualified for a 1099 paid over $600. Sad that I had to sit here for hours to try and figure it out on my own. Easiest and fastest way to get everything mapped is to just create another exp account then go to transactions & filter it so that all the transactions that you want to map to your new exp account can be done in one shot with the batch action button. I then was able to click on the 1099 check box to complete my 1099's. Hope this helps anyone that is dealing with the same issue. 

Need QuickBooks guidance?
Log in to access expert advice and community support instantly.
Terms & ConditionsAccessibility statement