QB Issue Resolution:
- Create a new Cash Account (or preferred name) under Bank Category Type in the Chart of Accounts.
- Set up Vendor as 1099 type (with Tax ID) in Vendor Information.
- Create a new Loan to Company account (under other current liabilities)
Make deposit (create + sign > other > bank deposit) of that cash loaned to Cash Account (#1) and show as new loan from (#3) account.
Use Expense form (create + sign > vendors > expense) to record 1099 payment by cash (select cash account).
Cash account should show zero balance. Loan account should liability. Vendor should show 1099 payment.
Resolution for Issue 'If the owner paid vendors cash out of his own pocket as a loan to the company, how do i add that number to the already done 1099.' available: Yes (Solved).
Source: Intuit Community forum.
If the owner paid vendors cash out of his own pocket as a loan to the company, how do i add that number to the already done 1099.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Bank Category
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Error Recovery for Bank Category [Canada]
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