It’s that time of year again, time to prepare your 1099 Misc forms. Here’s the next article in my series, looking at preparing QuickBooks Online 1099 Misc forms.

I’ve discussed my short list of criteria for considering how accounting products handle preparation of 1099 Misc forms in my prior article. Let’s take a look at how QuickBooks Online stacks up.

  • Vendor Information: You want to have all of your vendor/contractor information stored in your accounting product for easy review. QuickBooks Online supports all of the necessary information.
  • Paper Filing: If you have a small number of forms to file you want to be able to print directly to preprinted forms for manual filing. QuickBooks Online supports printing to paper forms.
  • E-Filing / E-Delivery: E-filing lets you submit electronically, E-delivery lets you send forms to vendors/contractors electronically. QuickBooks Desktop supports e-filing through several additional-fee services.
  • Social Security Number Truncation/Masking: QuickBooks Online does notprovide SSN truncation/masking.

Preparing QuickBooks Online 1099 Misc Forms

Let’s take a look at how you work with 1099 Misc forms in QuickBooks Online.

It is important to note that the ability to prepare and print 1099 forms is only found in QuickBooks Online Plus, it is not available in QuickBooks Online Simple Start or QuickBooks Online Essentials. Therefore, all of the information I talk about here applies only to QuickBooks Online Plus.

Preferences and Setup

There are no preferences to turn on as you found in QuickBooks Desktop.

There are no preferences to turn on as you found in QuickBooks Desktop. However, you should enter your company name and EIN in the Company Settings window, particularly if you are printing forms.

Vendor Information

You need to identify which vendors are eligible to receive a 1099, and then enter all of the information that is required. To do this, edit the vendor record and enter the address information, Tax ID and preferably the Email address, then check the Track payments for 1099 box.

There isn’t a bulk-edit option as we had in QuickBooks desktop.

Preparing for Filing

QuickBooks Online offers a 1099 preparation “wizard” (even though they don’t call it that) – the problem is, it isn’t that easy to find the first time.

You have to go to the Vendor list, then click the Prepare 1099s button in the upper right. IFirst, click the Select Vendors button, to select the vendors to include. If you have already checked the Track payments for 1099 box in the vendor record, they will show on the list. wish this were easier to find!

 

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