If you have vendor that needs their check name printed differently than their business name this can be easily set up in the vendor file in QuickBooks.

Let’s say your vendor has the business name Smith’s Electrical but his business name isn’t the legal name so the checks need be made out to Robert Smith.

Under the vendor profile of Smith’s Electrical, click the ‘payment settings tab’ type Robert Smith ‘print name on check as’. When you are ready to pay this bill, the check will automatically type Robert Smith on his payments.

You can quickly set up a new vendor when you write a check or enter a bill. The same is true for a new customer when you are creating an invoice.

In each new window, whether a check or bill or invoice, start typing the new vendor name in QuickBooks, and a window will pop up will guide you to enter their full information. Use the ‘Set Up’ button to access the vendor or customer file.

Just a reminder if this vendor is eligible for a 1099, be sure to click the 1099 box and enter their federal id number on the tax settings tab.

This is a good time to pull your 1099 Vendor report and make sure you have current addresses and federal ID numbers.

A quick way to review is to comb through your professional or outside service expense accounts. In QuickBooks if you have identified a vendor who is eligible for a 1099, make sure you click the 1099 box in the vendor profile.

If you have missing info reach out to your vendor and request the signed W9 form. It is always a good policy to get the W9 at the time of payment but reviewing your vendors midyear helps with the year-end deadline.

Payroll is a beast to manage at the best of times.

Issuing paychecks, withholding the proper amount of taxes, filing payroll tax returns and making payments according to different deadlines is complicated and can really cut into time you could use running your business.

Many small businesses outsource their payroll, and there are many payroll providers out there that can integrate directly with your accounting software and streamline the payroll process.

Consider opening a separate business checking account solely for payroll, so your payroll provider doesn’t have access to your primary account. This helps ensure there are enough funds to cover your employee’s paychecks.

Now that the deadline for filing and paying your income tax liabilities is over, it may be tempting to forget about it until next year. But make sure that you are setting aside money for what you will owe for this year’s activity.

Talk to your CPA about getting an estimate of how much you might owe so that you don’t have to scramble to gather the funds at the last minute.