We just installed Quickbooks Pro Posted by Dan Davis on March 27, am:. Select "Tax: " on the left side after the Preferences window appears on your screen. January 9, at am. The subs should check with their own accountants regarding their individual requirements. Posted by barbara on October 2, am:. Now if the EXCHANGE RATE is different on the BILL Czll from that of the BILL CREDIT contrafts is normal the amounts of these transactions in the GENERAL LEDGER is incorrect, however, the amounts.

Quickbooks can be used to manage payroll for all the employees within a business, and also stores their taxation information for each fiscal year. Since independent contractors file Misc forms to pay taxes and do not require you to withhold any taxes on their behalf, you can pay independent contractors in Quickbooks just as if you were paying bills to any other vendor.

Categories: Quickbooks Learn more. Create an account Community Dashboard Random Article About Us Categories Recent Changes Write an Article Request a New Article Answer a Request More Ideas Edit Article wiki How to Pay Independent Contractors in Quickbooks. Quickbooks is software designed by Intuit that assists businesses put call option contracts quickbooks managing their financial and accounting information.

Open the Quickbooks file for your company or business. Point to "File" in the top toolbar and select "Open or Restore Company. Enable the feature so you can add and pay independent contractors. Point to "File" and select "Switch To Single-User Mode. You may need to ask your co-workers to exit from Quickbooks or from the company file before you begin this procedure. Point to "Edit" in the toolbar and select "Preferences" to edit your company's tax preferences.

Select "Tax: " on the left side after the Preferences window appears on your screen. Click on the tab for "Company Preferences" and answer "Yes" next to "Do you file MISC forms. Add your independent contractor as a new vendor. Click "Vendor Center" on the top toolbar, then select "New Vendor. Type in put call option contracts quickbooks name of the independent contractor as you want it displayed on your Vendors list.

Enter the amount of put call option contracts quickbooks you owe the independent contractor in the "Opening Balance" field, if applicable. Click on the "Address Info" tab and provide the independent contractor's address and contact information. Click on the "Additional Info" tab to provide Quickbooks with information such as the independent contractor's Tax ID number or Social Security Number, workers compensation insurance information, liability information, and more.

Place a check mark in the box next to "Vendor eligible for " and click on the "OK" button to save your independent contractor's vendor information. Create a bill to represent the work done by the independent contractor for your business. Point to the "Vendors" menu and select "Enter Bills. Select the name of your independent contractor from the drop-down box next to the "Vendor" field.

Enter the amount of money you owe the independent contractor in the field for "Amount Due. Enter the independent contractor's information in the optional fields for reference number, terms, and memo, if applicable. Click on the "Expenses" tab and choose your independent contractor's expense account from the drop-down list next to the "Account" field.

Click on "Save" to finish creating the bill. Pay the independent contractor's bill. Click on the "Pay Bills" option from the "Vendors" menu in your session. Select the bill that needs to be paid and choose your desired payment method from the drop-down menu next to the "Payment Method" field. A variety of payment methods are available; including check, credit card, cash, debit card, PayPal, and other online payment methods. Select the business account from which you want to pay your independent contractor from the "Payment Account" field.

Click on the button for "Pay Selected Bills" to successfully complete the payment process. I have contractors that have revenue minus expenses like fuel, permits, advances. How do I enter these in Quickbooks ? How do we get a bill for contract labor charged to a service account on a customer report?

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Option Contracts

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