How to run a QuickBooks 1099 report
First you must be sure that you have setup your vendors properly. This means that when you entered the vendor’s information you told QuickBooks that the vendor was eligible for a 1099 and you entered the vendor’s tax id number.
If you have setup the vendors properly then the process is easy.
Click on Reports
Select Vendors & Payables
Then select 1099 Summary
For the date choose last calendar year from the drop down (this is true even if your business does not use a calendar year)
The three 1099 options should be set as follows
- Only 1099 Vendors
- All Allowed Accounts
- Use Thresholds
That is it. Print the report and send it to us to prepare your 1099s.
If you did not setup your vendors for 1099s then you will need to do it now.
Select Vendor Center
Review the list on vendors for a vendor that should be 1099 eligible. A vendor is 1099 eligible if the vendor is not a corporation and you bought a service from them as opposed to buying a product.
Once you have identified a vendor that should be 1099 eligible right click on the vendor.
Select Edit Vendor
Click on the Additional Information tab
Checkmark the Vendor Eligible for 1099 box
Enter Tax ID number.
Repeat until all 1099 eligible vendors have been setup.
Now that your vendors have been setup properly you can follow the above steps to run the 1099 report.