Bank Category: 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.
- 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 […]
Resolution for 'Bank Category 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.
The Bank Category 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 Bank Category issue yourself by looking for a resolution described in the article. If it is a complex Bank Category issue or you are unable to solve the issue, you may contact us by clicking here or by using other Bank Category support options.
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