Simple QuickBooks Tips – Part III
Customize QuickBooks with this simple change relating to 1099s.
1099s in QuickBooks
Companies that provide services to your company may require 1099s at year end. Preferences is where you need to turn this on and setup the accounts that you want checked for preparation of the 1099s.
Some of the accounts most often used for 1099 companies are:
- Rent, storage rental, equipment rental for Box # 1
- Professional fees including legal, subcontractors, repairs/maintenance, website design for Box #7
Don’t forget the W9 form you need to have on file for each service provider. Get the form here http://www.irs.gov/pub/irs-pdf/fw9.pdf and see my blog on W-9s at http://eauclairebookkeeping.com/2012/10/01/form-w-9/
Additional QuickBooks Questions