Advertise here    

QuickBooks Forums      

Go Back   QuickBooks Forums > QuickBooks Software Support > QuickBooks Forum

Thread Tools Rating: Thread Rating: 4 votes, 5.00 average. Display Modes
Old 02-27-2006, 12:20 PM
DJG DJG is offline
Junior Member
Join Date: Feb 2006
Location: Culver City
Posts: 1
Unhappy Manually Changing 1099 amounts?

Several payments to a vendor were made through wire transfers. The transfers were recorded via journal entries instead of through A/P. As a result, the 1099 does not reflect these payments. Is there any workaround for this? Can the 1099 amount for the vendor be manually changed in QuickBooks? There were over 20 payments handled through the journal entry process so I am hoping for a quick and easy solution.

Thanks in advance for the help
Reply With Quote
Old 02-28-2006, 05:31 AM
Joe Williams Joe Williams is offline
Registered User
Join Date: Jan 2006
Location: Oklahoma
Posts: 9,380

If the journal entry hits the same account the bills would had has the vendor's name in it, it is included in the 1099 amount
Reply With Quote
Old 02-28-2006, 10:57 AM
Joey Joey is offline
Registered User
Join Date: Jan 2002
Location: South Florida
Posts: 6,258
I've never seen the program pick up the Vendor activity from a Journal Entry either. Anything being recorded that is from the checking account should ALWAYS be done either on the check screen or the deposit screen. There is no reason to use a journal entry for anything happening in the checking account.
Anything going into the account is handled just like a deposit and anything coming out of the account is recorded on a check screen. Just change the check number to W/T or EFT or whatever you like.
In fact, there is very little reason to use Journal Entries at all in the QuickBooks program. Mainly they are used for non-cash entries like depreciation, amortization, etc. There are activity screens designed to be used for most of the other transactions.
You can use the Write Checks screen to re-create those Wire Transfers and then Delete the Journal Entries and re-reconcile the account for the last month and this will correct the 1099 problem.
Certified Pro Advisor
Reply With Quote
Old 02-28-2006, 12:49 PM
JZeiger JZeiger is offline
Registered User
Join Date: Oct 2005
Posts: 553
QB DOES pick up 1099 activity from journal entries (as long as you enter the vendor name and post the expense to an account configured for 1099s). However, you should reserve journal entries for adjustments. Instead, use the Write Checks window and change the check number to reflect the way the vendor was paid, such as ACH or Xfer, etc.
Reply With Quote

Bookmark and Share
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is On

Forum Jump

All times are GMT -5. The time now is 12:38 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
All contents copyright (c) by AccountingUsers Inc.
You Rated this Thread: