6030 Contractors
Payments to independent contractors. The account the 1099 report watches.
In Solo Superstars
Categorize contractor payments here (or to 5040 Subcontractors for job-specific work) and mark the vendor as a 1099 vendor. Tax Watch warns when a vendor crosses the $600 threshold.
Example
A $1,500 payment to a freelance designer by bank transfer: debit 6030 1,500, credit 1010 1,500.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- 1099 contractors
- freelancers
Related
- Form 1099-NEC — The form you file for each US contractor you paid $600 or more by cash, check or bank transfer during the calendar year. Card payments are excluded.
- 1099 vendor — A US contractor you must report on Form 1099-NEC if you paid them $600 or more in a calendar year by cash, check or bank transfer.
- 5000 Cost of Goods Sold — The direct cost of the inventory you sold. Subtracted from revenue before operating expenses to give gross profit.
- Chart of accounts — The list of buckets your money can be sorted into: assets, liabilities, equity, revenue, expenses. New workspaces start with a default set you can rename or extend.
- Default chart — The chart of accounts every new workspace starts with, numbered the way QuickBooks users expect. Yours may have been renamed or extended since.