QuickBooks is a popular accounting software used by many businesses to manage their finances. One of the features of QuickBooks is the ability to add subcontractors, which can help you keep track of payments and expenses. In this article, we will go over how to add subcontractors in QuickBooks.
Step 1: Navigate to the subcontractor section
To add a subcontractor to QuickBooks, you will first need to navigate to the subcontractor section. To do this, go to the “Vendors” tab and select “Subcontractors” from the drop-down menu.
Step 2: Add a new subcontractor
To add a new subcontractor, click on the “New Subcontractor” button in the top right corner of the screen. This will bring up a pop-up window where you can enter the subcontractor’s information.
Step 3: Enter subcontractor information
In the pop-up window, you will need to fill out the subcontractor’s information. This includes their name, address, phone number, email address, and tax ID number. You can also enter any notes or comments about the subcontractor in the “Notes” section.
Step 4: Set up payment preferences
After you have entered the subcontractor’s information, you will need to set up their payment preferences. You can choose to pay them by check, direct deposit, or credit card. To set up direct deposit, you will need to enter their bank account information.
Step 5: Set up tax information
Finally, you will need to set up the subcontractor’s tax information. This includes their tax classification (e.g. independent contractor or employee) and their tax rate. If the subcontractor is an independent contractor, you will also need to enter their Form W-9 information.
Step 6: Save the subcontractor information
Once you have entered all of the subcontractor’s information, click the “Save” button to save their information. You can then view their information in the subcontractor section of QuickBooks.
Conclusion
Adding subcontractors in QuickBooks is a simple process that can help you keep track of payments and expenses. By following the steps outlined above, you can easily add subcontractors to QuickBooks and ensure that your financial records are accurate and up-to-date.