I appreciate you for always sharing your knowledge about QuickBooks. This will definitely help other users as well in the future. Please keep on posting here in the Community.
What if the payment is to the individual that sued you. I have the payment to the attorney under legal but which account should I use for payment to the individual?
I am in the middle of 1099'ing and realized it shouldn't be under legal for their 1099.
If the payment is to an individual, not a law firm, which account would you use? There were separate payments, a payment to the attorney, which I recorded to Legal but the payment to the individual shouldn't be recorded as legal. This matters for 1099 purposes, as I don't want the payment to the individual appearing as Legal.
So do I need to post the attorney's settlement to 'Professional Fees - Legal Fees'? and the ex employee payments to Other Expense under Settlement? Do I need to record a JE to the Balance sheet to record these payments as it will be for a total of one year we will be making payments to the ex employee and his attorney.
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