Frequently Asked Bookkeeping Questions

How do I change someone from a subcontractor to an employee or vice-versa in Quickbooks?

The best thing to do in Quickbooks is make a new vendor or employee. So if you had a subcontractor named John Smith, but now he's an employee, make an employee named "John J. Smith", or "John Smith -…

How do I track subcontractor payments in Quickbooks?

You should enter their bills or payments as multiple line items, using separate expense accounts for materials and labor. At the end of the year it is theoretically possible to print 1099's right out…

I'm a nonprofit, exempt from FUTA. Do I still have to pay SUTA?

Although nonprofits are exempt from FUTA (Federal Unemployment Tax), they are not exempt from SUTA unless they self-insure (in Massachusetts, this option is only available to nonprofits). Self…