Yes, and you use the 1099-NEC
You also need the contrator to fill out and sign a form W-9, downloadable form from the IRS. The W-9 provides you with his tax num...
Yes, the bank is loaning you the amount of the overdraft.
I would create a liability account for the overdraft loandeposit the bank for the amount and use the l...
If Clear out means to reduce the balance owed, then doing so is income to the business. So a journal entry to debit the liability account and credit Other Incom...
QB is perpetual so that negative balance will move forward in the company. It needs to be zero'd out. You can use a journal entry to move that negative amount t...
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