Quickbooks Tip of the Month: November 2017

Dec 5, 2019 | Quickbooks

It’s time to update your Quickbooks 1099 vendor list.

Believe or not, the year is almost over and it is a perfect time to update your 1099, miscellaneous vendor list in QuickBooks. The IRS requires all 1099 vendors to provide to the payor a signed W-9 which is to be kept in the vendor file. QuickBooks offers a feature for setting up 1099 Vendors. If set up correctly, a simple report can be printed at year end for your accountant. If you prepare your 1099s and 1096 transmittal forms through Quickbooks, it can also be easily done. Maintaining a correct vendor EIN and address list helps eliminate the costs and stress associated with generating 1099 information at year-end. The steps for setting up a correct list are simple but require guidance. Please feel free to contact our office should you need help setting up the Quickbooks 1099 vendor list.

Subscribe to our Accounting, Tax and Business Insights Newsletter

This field is for validation purposes and should be left unchanged.
Email Address:
Name(Required)
Privacy(Required)
iPhone Users – Document Signing Tip

iPhone Users – Document Signing Tip

Looking for an easy way to sign and return documents that are emailed to you? Tired of the long process of printing documents, signing them, scanning them, and attaching them to a reply email? If you own an iPhone, try this simple document signing technique. When you...

read more

Ask an Accountant: What is Use Tax?

I file a Sales & Use Tax every month based on my taxable sales. I never remit Use Tax. What is it? Generally, Use Tax is due on out-of-state purchases of goods or services that would have been subject to sales tax had they been purchased New Jersey on which either...

read more