QuickBooks Online 2024: Setup 1099 Contractors

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-Getting Started Tutorial: • How to use QuickBooks ...
-Setup & Run Payroll: • QuickBooks Online 2024...
-Navigation & Customization: • QuickBooks Online 2024...
-Customize your Invoice/Estimate Templates: • QuickBooks Online 2024...
-Connect your Banks / Download Transactions: • QuickBooks Online 2024...
-How to Categorize Expenses: • QuickBooks Online 2024...
-Reporting Basics: • QuickBooks Online 2024...
-Desktop to Online Conversion: • QuickBooks Desktop to ...
-Setup 1099 Contractors: • QuickBooks Online 2024...
-Standard Chart of Accounts: • QuickBooks Online 2023...
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Official QuickBooks Online 2024 Tutorials Playlist:
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My favorite FREE (and Low-cost) Courses for Accountants & Accounting fans: courses.cpaaca...

[@HamidurRahman]

Your video always helpful, Please keeps upcoming video within short time period as relevant of related like this length

[@HectorGarciaCPA]

Ok

[@HamidurRahman]

@@HectorGarciaCPA Thanks, I think most people like to see short-range tutorials, you can take a series of short-range playlists.

[@gleidismazo9250]

Hi Hector. You are amazing! Yo he visto otros videos a serca de como hacer file la form 1099 pero no los entendi y con usted ya se como hacerlas. Gracias Hector por su dedication para enseñarnos.Tambien tengo un par de QBO cursos que le compre a usted y son muy buenos. Por ultimo yo quiere llegar hacer tan professional como usted! Muchisimas Gracias!!!

[@HectorGarciaCPA]

Mil gracias, que bueno que le ha sido util

[@angelhodgdon1127]

Hello Hector, I reside in the New England region and here is a summary of the information I gathered regarding Contractors using Social Security numbers versus EIN. "Independent contractors are encouraged to obtain and use an EIN for their business operations. This provides an additional layer of privacy and helps to differentiate personal and business finances. Using an EIN can also help to confirm your status as an independent contractor rather than an employee. It is recommended to use an EIN instead of your SSN to protect your personal information and reduce the risk of identity theft." I'm curious if this advice only applies to my area. I ask because in the video, you mentioned that they only use Social Security Numbers. (?) Thank you in advance for any assistance in clarifying this.

[@HectorGarciaCPA]

It’s general good advice

[@achillefankem7131]

Hi Hector, Thank you for your video. It's very helpful. Is it possible to prepare and e-file 1099s with Quickbooks without a payroll subscription? Thank you

[@HectorGarciaCPA]

Yes, you can pay for just the 1099s

[@roguemarkets]

Nice! You're videos are incredibly helpful, Hector! Regarding contractors who are C-corps & S-corps, should we not check the box "Track for 1099" box in QB in order to exclude them from getting 1099? Or- when preparing the 1099's in QB & at the reviewing recipients page, is it better to de-select those C-Corps & S-Corps there? Thanks a million for your stellar instructional videos.

[@HectorGarciaCPA]

They shouldn’t get 1099’s so don’t check the box

[@teresahoffman8759]

can you tell me how I can correct a 1099 nec thru quick books e file for a contractor that i put in the wrong amount

[@HectorGarciaCPA]

I think they are going to release “corrections” starting Feb 2024

[@MayaP-jk3dy]

Hi Hector! I'm new to quickbooks and I was wondering if generating pay stubs for 1099 contractors is available yet? My contractors need a paystub to apply for apartments/housing. If it's not available yet, is there any workaround within QuickBooks or another software? Also, do I need the additional payroll subscription to do this or can I print/email contractor paystubs within the Simple Start subscription? Thank you!

[@HectorGarciaCPA]

Not a thing.. will never exist. Contractors are supposed to INVOICE you. Closest thing, print the bill in QB

[@PS.Bookkeeping.Accounting]

Hi Hector, So i currently made a few contractor (1099), do i need to finish their "profile" now and can i do that at the end of the year? Any advice would be appreciated! Thanks in advance. - Tony

[@HectorGarciaCPA]

Before Jan 2025 when is due

[@dmkconsults3411]

Excellent. Thanks.

[@HectorGarciaCPA]

You are welcome!

[@01adutton]

Do I need to pay my contractors by entering a bill and then a bill payment? Or an expense? They are paid weekly, just as my hourly guys are.

[@HectorGarciaCPA]

Either way

[@user-fs5og8pw2d]

Hello Hector, thank you so much for your videos which are very helpful. I have issued 1099s for a new company which already had a chart of accounts but when I reviewed the bill payments were not added to their form but the hand written checks paid direct without a bill. How can I fix that?

[@HectorGarciaCPA]

It only includes Checks and Paid Bills (with checks or transfers), it excludes payments paid from a credit card

[@tony.973]

Hi Hector, as always making useful videos. Quick question for you, i have a client that pays their employees as a 1099, how can i record that in qbo? Also, do i need to obtain a w9 for those individuals? They currently subscribed to the simple start plan as they are a service company using cash basis.

[@HectorGarciaCPA]

You need to add the 1099 service

[@tony.973]

@@HectorGarciaCPA Thanks for that info. Would you mind telling me if the way i have 1099 "employees" setup in QBO is correct? I have the chart of account set up as... acct# 6000, name: 1099 Payment Expense, acct type: expense, Detail type: Payroll Expense. I would appreciate your insight.

[@ld1200]

How can I change the dollar amount before I print? Or calculate the gross? We report the gross earnings as opposed to the net check.

[@HectorGarciaCPA]

You cant override the amount. Its based on actual transactions

[@ld1200]

Is there a setting to report gross earnings instead of net earnings?

[@user-bz7ep3uv7r]

Can we add EIN or social security without dashes ?

[@HectorGarciaCPA]

Good question…

[@maryannrimando]

We have been conversing with tech support we can't print 1099 reports since we upgraded to 2024 version any one else have this problem?

[@HectorGarciaCPA]

In QB online, that should not be an issue, doesn’t sound right

[@CarmenVargas-dn2fy]

Hello

[@HectorGarciaCPA]

Hi