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BAinc
Level 1

Matching 1099 to Deposited Income

1099s received do not match income in QB because checks were deposited after the end of the year.  Can I make a GL Entry to adjust deposit timing to match 1099 gross income received (for 2020 income not deposited until after year-end) without screwing up the books?

Solved
Best answer March 23, 2021

Best Answers
ShiellaGraceA
QuickBooks Team

Matching 1099 to Deposited Income

Thanks for visiting us here today, @BAinc.

 

 

Yes, you can create a journal entry to match your 1099 gross income. To do so:

 

  1. Go to the Accountant menu.
  2. Select Make General Journal Entries.
  3. Enter the Account details, Debit and Credit amount.
  4. Click Save & Close.

 

I'd also recommend consulting your accountant to make sure everything is recorded accordingly in your books. Feel free to also check out this guide for our 1099 FAQs: Create and file 1099s with QuickBooks Desktop.

 

If you need help with other tasks in QBDT, you can browse this link here to go to our general topics with articles. Just look for responses that suit your concern.

 

Drop a comment below if you still have questions or concerns with 1099 or your account. I'm always here to help. Take care and have a great day ahead.

 

 

 

 

View solution in original post

BigRedConsulting
Community Champion

Matching 1099 to Deposited Income

You can do this with Journal entires to add to and then back out the income on 12/31 and then 1/1.

 

Or, use a sales receipt to record the income in the correct year / last year and then deposit it this year.

View solution in original post

2 Comments 2
ShiellaGraceA
QuickBooks Team

Matching 1099 to Deposited Income

Thanks for visiting us here today, @BAinc.

 

 

Yes, you can create a journal entry to match your 1099 gross income. To do so:

 

  1. Go to the Accountant menu.
  2. Select Make General Journal Entries.
  3. Enter the Account details, Debit and Credit amount.
  4. Click Save & Close.

 

I'd also recommend consulting your accountant to make sure everything is recorded accordingly in your books. Feel free to also check out this guide for our 1099 FAQs: Create and file 1099s with QuickBooks Desktop.

 

If you need help with other tasks in QBDT, you can browse this link here to go to our general topics with articles. Just look for responses that suit your concern.

 

Drop a comment below if you still have questions or concerns with 1099 or your account. I'm always here to help. Take care and have a great day ahead.

 

 

 

 

View solution in original post

BigRedConsulting
Community Champion

Matching 1099 to Deposited Income

You can do this with Journal entires to add to and then back out the income on 12/31 and then 1/1.

 

Or, use a sales receipt to record the income in the correct year / last year and then deposit it this year.

View solution in original post

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