Review and Update the 1099 Vendor List

Year-end is nearing – now is a perfect time to review your vendor information for 1099 preparation. Maintaining updated information helps with stress free form preparation in January. This can be accomplished in the Vendor Center in QuickBooks.

Verify the highlighted information below is correct in your QuickBooks file.

Mapping the expense accounts eligible for 1099 usage and preparation of 1099s can be completed in the Preferences area.

• Go to Edit menu – choose Preferences
• Click on Tax: 1099 in the left column
• Choose the Company Preferences tab
• Click “you can do it here” on the line for Form 1099-NEC and Form 1099-MISC to map accounts

Questions? Contact Heather Lehr at (320) 314-6803.