I started using QBO mid year. How do I input the total amount I paid to vendors before using QBO so that the calendar year 1099's are correct?

Hello there, @tradikopf. Let me share some information about the expenses you've created outside of QuickBooks Online (QBO).

Firstly, ensuring that your vendors are set up and tracked for 1099 is essential. To do this, follow these steps:

1. Go to Expense, and choose Vendors.
2. Click the name of the vendor to open it.
3. Select Edit, and navigate to the Additional info section.
4. Tick the Track payments for 1099 box.
5. Hit Save.

Once you've done that, you can manually enter the transactions with the correct dates. Here's how:

1. Go to the + New button.
2. Under VENDORS, choose the appropriate transactions.
3. Fill in the necessary details.
4. Hit Save and close.

Moreover, you can refer to this article to know which payments don't need to be included in your 1099s: Understand which payments are excluded from a 1099-NEC and 1099-MISC.

To help you manage vendor transactions in QuickBooks Online, check out these articles:

• Enter and manage expenses in QuickBooks Online.
• Enter billable expense.

Let me know if you need further assistance recording your transactions in QBO. I'm here to help you. Have a great day ahead!

Thank you for your prompt reply.  However, this response does not help with my situation.  

I started using QBO on 7/1/23 so anything paid to the vendors since that date is in QBO.  However, I also paid the vendors in the old system between 1/1/23 and 6/30/23.  I need to know how to add that amount to the specific vendor so that it's included in their 1099.  Sort of like a 'beginning balance' for that vendor.

Example.  I paid Vendor A $1,000 in our old system between 1/1/23 and 6/30/23.  I am now needing to add that $1,000 to our QBO that we started on 7/1/23 so that it can be included in the 1099.

First to note is that yes, I have marked them all as needing 1099 tracking.

Now, if I was to follow the rest of your steps then that will mean I am adding a new expense to my 'checkbook register' and it will deplete the balance making it look like I have less money that I do.

What I need to know is how do I add a beginning balance to a vendor when the vendor is paid in full to date and no bill is needed to be paid.

I'm beginning to think it might be faster for me to print a report from the old system and one from the new system and do my own 1099 by hand this year.

Good afternoon tradikopf,

Thanks for providing additional information. What I recommend doing is entering any payments that need to be reported under that vendor into the system. Here's how to enter historical information into QuickBooks Online:

Bills

1. Choose + New.
2. Hit Bill.
3. Enter each bill received between your start date and today. Be sure to assign amounts to the correct expense accounts.

Credits from Vendors

1. Select + New.
2. Choose Vendor Credit.
3. Enter credits received between your start date and today.

Payments

1. Click + New.
2. Hit Check or Pay Bills.
3. Record each bill payment made between your start date and today. Be sure to update the Payment date and check the number fields.

I am adding this article, which goes into more detail about these transitions. If you have any questions, hit the reply button below.