Where Can I Find Record of Vendors and Their Yearly Costs?
Ask the Accountant…
Question: I have to produce 1099’s for some of my vendors. How do I get a record of these vendors and their costs for the year?
Answer: When you set up a vendor in QB Premier, go to:
Vendor > Vendor Center > New Vendor > Enter contact information. Under “Tax Settings,” select box “Vendor Eligible for 1099”. There is a spot to put in the Vendor Tax ID (often their Social Security number), but if you have other users in and out of your QB, be careful posting this sensitive information here. (There are other ways and means to keep this data more securely.)