QuickBooks Desktop Functionality Collide 1099 Reporting

QuickBooks business accounting software is developed with miraculous features that are a boon to the small business sector. The software is incorporated with distinguished features that have simplified the financial and accounting operations of the business. With the employment of the software, the regular tasks of the business are mobilized by automation. The impact of 1099 reporting on QuickBooks Desktop functionality is one of the important QuickBooks features.

When the QuickBooks user employ the software to their Desktop and they get receive training for the first time to perform regular data entry related to the business, if a checking/debit transaction is entered then it is not an EFT, debit or a different reference check number. While performing bank reconciliation of checking accounts, make sure that the checks should be arranged in the numerical order and viewed same on the bank reconciliation screen. If you have mentioned “EFT” in the check number field while arranging the transactions on the bank reconciliation screen with the check number. It is recommended as the debit transactions are in the chronological order. So the checks that do not carry a check number will appear at the top, reflecting the mentioned date (date wise order) and checks with check number will follow the numerical order (alphabetical order).

Preferential Order:

  • Order with a date for the checks with blank check number fields.
  • Chronological order for checks carrying a specific check number in the number field (date mentioned does not matter).
  • Verify the number order, at the bottom, for all written checks.

QuickBooks Desktop Write Check 1099 Feature

If you use words such as Debit, DBT, DBT card, DCard, Debit cd, Visa, Masters, MC, MCard, Chase, Discover, Diners, PayPal etc. in QuickBooks Desktop check number field, QuickBooks automatically removes the payment from 1099 amounts:

The integration of 1099-K relates to the changes in 1099 regulations that have been made a couple of years back. The 1099 payments are not reported that are prepared by the vendors by credit card, debit card, or PayPal. QuickBooks accepts those payments from a checking account when you enter the right word in the check Ref. No. field and removes from 1099 reporting.

For further information on the same, you can contact QuickBooks technical support. The support team can be approached through different channels like phone support, email support and live chat support. Alternatively, you can call third party QB agencies like Accountsportal.co. It employs a strong support team that is capable of handling QuickBooks issues and errors in a very shortest time. Directly call to the toll-free QuickBooks Support Phone Number and garner immediate solutions.

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