With QuickBooks you have to map accounts to a certain box on the 1099. Once these accounts are mapped QuickBooks looks for the vendors eligible for 1099's that have transactions in these accounts. If you run the 1099 report and see that the amounts are incorrect you can try to troubleshoot and see if there are transactions for these vendors in different accounts that you have not mapped to the 1099 box. However if the amounts are wrong and you just need to enter a certain amount for this 1099 you can follow the following steps. There are also instances when you will just use QuickBooks in order to print 1099's since you did not use the 1099 set up correctly and it will take you longer to try to change vendor's eligibility and map the accounts. These steps can be used for this purpose too.
1) Create 3 new expense accounts: 1099's, 1099 expenses, & 1099 Clearing, make the last 2 accounts sub-accounts of the 1099's account.
2) Map the 1099 box to the 1099 expenses account only.
3) Create a journal entry debiting the 1099 expenses account for the correct amount that should on the 1099, and crediting the 1099 clearing account for the same amount. (This will cause the expenses to net to zero, therefore not affecting the profit & loss statement)
4) The 1099 report will show a total of zero for the vendor, there will be a debit in the 1099 box column and a credit in the uncategorized column, this is OK, the 1099 will print correctly.
If these steps are taken and the amounts are not coming up correct, check the following:
1) Make sure vendor is 1099 eligible
2) Check any other accounts that are mapped to 1099 boxes that might have transactions for this vendor, you might have to adjust the amount of the journal entry by the amount in these other accounts or you can just create a new vendor with 1099 after the name, use this vendor in the journal entry and uncheck the box to make the original vendor eligible for 1099 so it does not show up on the report.
