Hi, I have questions regarding backup withholding:
1. I created an OTHER CURRENT LIABILITY acct called Backup Withholding so that when the contractor's bill is created the tax withheld goes there. After the check is written to the contractor, I need to pay that tax to the IRS. Once I pay the IRS, that Backup Withholding acct is zeroed out. Now that it's $0, how does that calculate for the contractor's 1099 at the end of the year?
2. I entered 1 bill for the contractor & list it as you described to "Allied3" with the full amt in the Contractor's Expense acct (+) & the tax withheld in the Other Current Liability acct (-). Only the expense acct prints on the contractor's check stub. How do I get all accts to show on his stub so he can see what that deduction is? He's not "payroll", but a vendor.
Thanks!
