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brendamariesinning
Level 1

1099 NEC

I have one vendor to print a 1099 NEC form for from CYE 2020.  This vendor is paid compensation for services he performed for our church as the youth director.  There was a payment of $96 made to reimburse him for entrance fees for the youth who participated to a local corn maze.  I think I should report this on the 1099 

3 Comments
ShiellaGraceA
QuickBooks Team

1099 NEC

Hi @brendamariesinning,

 

You'll want to record the payment from the vendor center. Once you're ready to file the 1099 for this vendor, make sure to map the accounts accordingly.

 

Here's how:

 

First, create a Vendor Credit.

 

  1. Go to the Plus (+) icon and select Vendor Credit.
  2. Enter the necessary information.
  3. Click Save and close.

 

Then, create a Bank Deposit.

 

  1. Go to the Plus (+) icon and tick Bank Deposit.
  2. Enter the necessary information.
  3. On the Add funds to this deposit section, choose the vendor.
  4. On the Account column, select Accounts Payable (A/P).
  5. Enter the amount. Then, click Save and close.

 

Lastly, create a Check to link the two.

 

  1. Go to the Plus (+) icon and then tap Check.
  2. Select the vendor’s name as the payee. Once you do that, the Deposit and the Vendor Credit will show on the right side of the screen.
  3. Tap Add on both Deposit and Vendor Credit.
  4. Click Save and close.

 

For more information, you can check out this guide: Enter a credit from a vendor.

 

Additionally, feel free to browse this link here if you need help with other tasks in QBO.

 

Keep me posted if you still have questions or concerns with your vendor. I'll be around for you. Take care and more success to your business.

 

 

 

 

 

brendamariesinning
Level 1

1099 NEC

I think your response just confused me more.  I don't think that the item should be reported on the 1099 NEC, as It is a reimbursement of an expense.  I need to know if I need to change the tax mapping for the expense that it was entered into.  The item for the Youth Director Stipend is mapped correctly.  The $96 that I reimbursed to the Youth Director was entered into an expense item titled "Christian Education Expense."  So I'm thinking that the expense item needs to be mapped somewhere.  It currently is "unassigned."  

MaryAnn_E
QuickBooks Team

1099 NEC

Hi there, @brendamariesinning.

 

If the transaction is not included in 1099, you can move the posting account to a different account. This is not included in mapped accounts, 1099 wizard.

 

Here are some articles for your additional reference about 1099:

 

 

Please don't hesitate to reply if you have further questions, or reach out to our Support Team for assistance.

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