Last Updated on October 13, 2021 by Editorial Team
As a businessman or an accountant, it is our responsibility to prepare the QuickBooks 1099s form or the file to pay the independent contractors and freelancers at the right time. To perform this, here is the blog, where you can prepare the 1099s file, and e-file them in QuickBooks Online easily.
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So, let’s start to know the preparation process of the 1099s file in QuickBooks Online without wasting any time.
Procedure to Prepare & E-File 1099s File in QuickBooks Online:
There is a method to prepare and e-file 1099s file in QuickBooks Online, have a look:
How to prepare QuickBooks 1099s form
Prepare the QuickBooks 1099s form by following the below steps:
- Click on the Payroll or Worker menu and then choose the “Contractors” option or you can also choose “Expenses”.
- From the available preferences, drop your click on the “Vendors”.
- Must be sure about company details such as company name, address, and the correct ID matches. All matches should be found on tax notices.
- After that, choose the boxes that show the “Types of payment mode” for all of your contractors. It works for the only current year.
- Then mark on those selected boxes that show all expenses accounts from where you can easily navigate the payments and then click on NEXT.
- Users have to be sure about all selected contractors and their entered information and email address must be accurate.
- In any case, mistakenly you are missing any contractor name. Then choose the “Add From Vendor List” section.
- And choose “1099 Contractors” from the list of QuickBooks vendors and proceed forward with NEXT click.
- Make sure about the calculation of total payments for each and every box you selected in the above step.
- If you face any problem while trying to view the payments made electronically (From credit card) just because they report you by the credit card company.
- So, no need to worry you can easily verify with all payments via the “Vendor column”.
- Choose the “Finish preparing 1099s” option
- In the end, click on the “Go to 1099 E-File Service” to e-file the 1099s and you are all done with this procedure.
If in case, the information is not imported to the QuickBooks, then you will be asked to enter the “Missing info”.
How to E-file 1099s in Quickbooks Online
To e-file 1099s in QuickBooks Online, make sure that you have completed the above instructions correctly. Let’s proceed for the step:
Steps for QuickBooks 1099s e-file:
- After the complete prepare of 1099s, go for the ‘E-File for me’ option, and click on it.
- Next, check the 1099s Forms and snap-on Continue
- Review the 1099s Forms and ensured that the data given by QuickBooks Online is correct. Select the 1099 structure you need to submit – you can choose one or call and snap-on Continue
- Click the ‘Back to Home’ option, if you want to review the vendor and company information before proceeding.
- Now enter the information of billing, and click on the ‘Approve’ option. (This step is only for those, who are using this for the first time.)
- After that, check the total amount and number, then approve it.
- For contractor copies, select the delivery option.
- In the next step, verify the missing email address, if you do see this screen, and click ‘Yes’. And if you select ‘No’, then click the ‘Continue’.
- If this option is not seen to you, then it means that, you already opted for the contractor’s online access to their 1099s.
- Next, browse and enter missing email addresses for your temporary workers with the goal that the entrance to check the 1099 structures online can be sent across to them
- All temporary workers whose email addresses have been given will get a welcome to access and check the 1099 structures on the web.
- In the event that an email address isn’t right, you should refresh the data in QuickBooks and afterward come back to the e-documenting of 1099s, along these lines, you will be certain that the temporary worker gets the welcome to get to their 1099 structures.
- In the event that the email address field is left clear, the 1099 duplicate is still conveyed to the email address that you have spared before in your QuickBooks Online record.
- Now click on the Continue option.
- Next, you will get the alternative to Download and Submit 1099 Forms “Manager: Copy 1 and Copy C” and “Contractual worker: Copy B and Copy.”
- Clients that select the alternative View structures, they will simply get Copy A that is sent to the IRS. The other 1099 duplicates will be accessible on the Home page.
- Submit the last structures to submit. Experience the 1099 structures before you submit as inaccurate subtleties in the structure will be an issue for you.
- The physical or paper variant of Copy An of Form 1099 is for the client’s records. They ought not to print or mail this structure to the IRS.
Common Preparation After E-file the 1099s File:
How to File Another Set of 1099s
In the open QuickBooks Online, select the Workers from the left menu, then Contractors, and then Prepare the 1099s. Before going to the 1099 e-file flow, if the contractors are not added yet and add them first.
Steps to Modify Unsubmitted 1099s
You’ll need to go back to your QuickBooks Online and go through the 1099 e-file flow again for any 1099s you select then if you need to update 1099.
Submit a Correction in QuickBooks 1099s File
Here the 1099 E-File Service doesn’t let you make corrections to a 1099 form after it has been e-filed. And you can make corrections in a printed copy and send it by mail to the IRS. For more information about correcting a 1099 form that has already been e-filed, and check the IRS website.
Note: If the contractor or recipient of the 1099-MISC form wants the information corrected, you will need to provide the file again and return to the recipient or contractor.
Time to Submit a Correction
If you are unsure if a change is significant enough to warrant a correction, the guidelines for Safe Harbor for de minimis are listed below.
- The withholding amount (that is, the difference between the actual amount withheld and the amount filed) is less than $100.
- The difference between the dollar amount reported for tax withheld and the correct amount is no more than $25.
What to Do After File a 1099s Form?
Need to see totals for each contractor along with their account number and tax ID?
If you want to see what you’ve paid your vendors, you can run a couple of different reports.
Procedure to Check the Status of 1099s filing
If you want to check your status, you need to return to your 1099 E-File account.
Below is the list of statuses and what they mean:
- Not Submitted: You have not e-filed Form 1099 MISC with the IRS. You can continue revising it.
- Submitted: You have e-filed the form to the IRS. If you need to revise it, you may need to file a manual amendment. Please use the IRS instructions and form.
- Received by IRS: The IRS has received your form and is either processing it or has already processed and approved it. Customers who have submitted their 1099 E-File forms will receive a confirmation email approximately a week after the IRS accepts and confirms submissions. You may not receive this confirmation until the middle of January or later.
How to Sign Up and File For Multiple Filing Companies
- If you have already logged into the Intuit 1099 E-File Service, then you can see the last company.
- Go to the drop-down, and click on it.
- After that, choose the ‘Add another Intuit 1099 E-File Service Subscription’ option.
- Now you will be given a page to start entering the next company’s information.
Way to Access Archived Field Forms
- To access the archived field 1099 forms (January 1- April 30), you have to log into the 1099 E-file service account.
- Click on the linked text to log into the 1099 E-file service account.
- After getting into the page, put Id in the User ID field, and password in the password field.
- And at last, click on the ‘Sign In’ option.
So this was the blog, where you can get the knowledge to prepare the 1099s file in QuickBooks Online easily. We hope you like it, just follow the instructions given in the blog carefully. Further, if you have any kind of issues following the steps or any doubts related to this topic, then you can get support from the Accountwizy platform through the toll-free number +1-877-355-0435 . Thank You…