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Experienced Member

In the chart of accounts, how should American Express Working Capital Terms Program be set up? Specially since they make payments directly to vendors.

Our accountant set it up as a credit card, but this is incorrect as credit card charges are excluded from 1099s.
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Established Community Backer ***

It could be argued that this constitutes a "third party p...

It could be argued that this constitutes a "third party payer" and that Amex is responsible for issuing 1099-k to your contractors https://www.irs.gov/payments/third-party-network-transactions-faqs but that answer may be beyond our expertise since it is ultimately a tax question. If your accountant is your tax CPA they may be correct.