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You are here: Experts > Shopping > Credit/Debt Management > Quicken & Other Budget/Accounting Software > quick books-edit account
Expert: Linda Saltz, CPA, QBalance.com - 8/25/2008
Question
I entered an account as an expense rather than an income account. I also wanted it to be a sub account. When I try to edit the account, I am told it is associated with a 1099 account and that has to be changed before I can edit the account. What do I have to do?
Answer
Hi Terry,
This is an easy fix- read the entire note first, then follow the
directions.
Go to Lists > Preferences > on the left margin, Scroll toward the bottom of the list and find 1099 preferences > under box 7 - in the middle column (make a note of what account(s) is displayed), use the drop down box and scroll to the top of the list and choose none.
Now return to the chart of accounts, edit the account and move it to an income type of account.
If applicable, return to the Preferences > 1099 preferences and choose the account(s) that may contain payments that should be reported on a 1099 if paid to a company for services.
Im a bit confused as to how an account you created wound up as an account associated with a 1099. Before you begin run a Quick Report on this account you want to move and make sure that there are not checks/credit card charges/bills pointing to this account. If there are none, go ahead and follow the procedure above, if there are expenses in this account, you need to keep this account as an expense account and set up a new income account with a different name to hold the income erroneously posted to the expense account. Once you set up the new account, you can find the items that are pointing to this account, edit the items and select the newly created income account.
Hope this helps,
Linda Saltz
Advanced Certified QuickBooks Advisor
www.qbalance.com
We sell QuickBooks Supplies (checks, deposits slips, 1099s, W2s) at a discount.
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