Click on the link in If you want to map your accounts to boxes on Form 1099-MISC, click here.Select Preferences > Tax: 1099 > Company Preferences within QuickBooks.This expense account is given an initial tax-line mapping of 1099-MISC: Nonemployee compensation.įor QuickBooks to use Stripe Third-Party Account data for the generation of 1099s, you must first enable this feature within QuickBooks’ preferences. From the connected account’s Dashboard, export an IIF file in the same way as a normal Stripe account.Ĭonnect platforms creating charges on behalf of connected accounts that need to generate 1099s for Custom accounts must declare the correct tax-line mapping of the Stripe Third-Party Account. Platform owners with Custom accounts can view the Dashboard of connected Stripe accounts. Considerations for Connect platforms with Custom accounts Accounts need to be re-merged after each new import. The records in the renamed account will be merged into the retained account. Click Yes to proceed with the merge, No to cancel. You’re then prompted about merging the account with an existing one. Change the name of this account to exactly match the name of the other account (the one you’ll be keeping).Click Account > Edit Account at the bottom of the Chart of Accounts window.Select the account you are no longer going to use (for example, Stripe Checking Account).
Make sure both accounts being merged are on the same level (that is, both can be sub-accounts or both can be primary level accounts).Select Lists > Chart of Accounts to view all of your accounts.In particular, you may want to merge the Stripe Checking Account, which represents the bank where your Stripe payouts are sent, with your actual banking account in QuickBooks: You may want to merge one or more of these created accounts with an existing QuickBooks account.
Your account’s timezone setting is used for the date range of the IIF export.
Next, import the data to QuickBooks Desktop as follows: Generally you can just cast your eyes over the above fields before clicking Download, but do make sure the Account Number is captured and, if not, at least that it's unique. See below if you receive an error that QuickBooks cannot verify the institution details. Using the Wells Fargo default will make no difference in getting the data into QuickBooks Desktop except that you will have a Wells Fargo logo associated with it. If you know the INTU.BID of your own bank you can enter it here. In this case we've used a common Bank ID for Wells Fargo Bank (03000). INTU.BID: We mentioned earlier that we mimic a Bank Feed in order to make this Bank Data import and as such we need to include a recognised Intuit Bank ID for it to be accepted by QuickBooks Desktop. If not you should enter the unique Account Number for this account as QuickBooks Desktop will recognise it for future imports (if you decided to use a fake generic number on two separate accounts this will cause you issues as the data may merge into the wrong account automatically - so make sure this number is unique per Bank Account even if you don't use the true number).Īccount Type: Choose the most appropriate Account Type from the drop-down.Ĭurrency: Currently USD is the only supported currency.īank ID: This is the bank's routing number - if you have it you should enter it but the default zeros '000000000' is fine. Account Number: So long as the Account Number is visible, AutoEntry will capture it and it will appear by default here.
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