How to import 1099-MISC/1099-NEC recipient information from QuickBooks?
3.9k views |
Last modified 1/25/2023 3:30:15 AM EST |
Added by TaxBandits Team
TaxBandits allows you to import the vendor details and payment history from your QuickBooks account to file Form 1099. Follow the steps to import recipient details from QuickBooks to file Form 1099-NEC and Form 1099-MISC.
But before beginning the import process, please ensure you have set the following preferences in your QuickBooks account.
- Make sure that business expenses are marked as a ‘Bill’ in your QuickBooks account.
- Also, make sure that you have checked the ‘Track Payments for 1099’ box when adding vendor payments. This allows TaxBandits to import the data successfully.
Here's how to import 1099-MISC/1099-NEC recipient information from QuickBooks
- Log in to your TaxBandits account.
- From Dashboard, click Start New >> Form.
- Select the form you want to file under 1099 series.
- Select the Tax Year and continue.
Connect your QuickBooks account and import Vendor details
- Click Start Now under QuickBooks Online. Then, click Connect to navigate to the QuickBooks sign-in page.
- Enter your QuickBooks login credentials, choose the company/payer from the dropdown menu and click 'Next'.
- Once successfully connected, the payer and vendor payment information will be imported into TaxBandits.
- Verify the payer details and edit if needed. Click Save & Continue.
Categorize Payments to Vendor
- Check the applicable boxes for the QuickBooks categories that apply to the vendor payments. This will help map the payments in the forms you create.
QuickBooks Data Import
- Review the recipient payment information that is generated and edit the details as needed.
- View the records imported from your QuickBooks account. To proceed with the 'Ready To File' records, click 'Review Successful Records'.
Review and Select Services
- You will be directed to the Review and Select Services page. Here you can review the forms before transmitting them to the IRS and opt for the required services. After selecting your required preferences, click Continue.
Pay and Transmit
- Finally, view your Cart Summary, provide your card details and Pay and Transmit the return to the IRS.
You will receive an order confirmation email from your support which contains your Order Details. You can also view the status of your forms from the Dashboard of your TaxBandits account.
TaxBandits also supports importing your vendor details from XERO to file Forms 1099-MISC and 1099-NEC. For the step-by-step instructions, click here.