Overview
At the end of the year, Heard will request specific reports to make year-end adjustments to your books. This ensures that your Profit and Loss Statement more accurately reflects your actual income and expenses for the tax year.
What is the Contractor Report?
The Contractor Report totals all payments made to your 1099 independent contractors.
Why is this report required for annual taxes?
Payments made to 1099 contractors are a deduction for your business. Therefore, we would like to ensure that your Profit and Loss Statement accounts for all contractor payments.
These reports are only required if you pay your contractor via a payroll provider. You don't need to send us this report if you pay your contractors via Paypal, Venmo, Zelle, etc.
Where can I locate the report?
You will need to log in to your payroll provider account. Typically, there is a tab for Reports. This is likely where you will find the Contractor Payment Report.
Please contact your payroll provider if you cannot find the correct report.
For therapists who do not use Heard Payroll, we have provided some helpful articles to locate the report for other payroll providers:
Gusto: Contractor Payment History
Please note: If you have provided Heard with Gusto Admin access, this is an automated process, and we can download this report on your behalf.
To view all payments for a single contractor, follow the steps below.
- Sign in to Gusto.
- Click the People tab and select Team members.
- Click the contractor's name.
- From the Pay tab, scroll to the "Recent contractor payments" section.
- Click View all to view all payments, or click the three-dot action menu to view a specific payment.
ADP: Payroll Report Summary - Contractor
- Login to https://runpayroll.adp.com
- Hover over “REPORTS” in the main menu bar and click Payroll Summary.
- Select Year: 2024, and to include all employees in your report, leave “All” selected in the “Name” field.
- Click Refresh.
- Click Export to Excel.
Quickbooks: Expenses by Vendor Summary
In Quickbooks 1099 contractors are categorized as Vendors, you may have access to different types of vendor reports depending on your subscription.
- Login to your Quickbooks account
- Navigate to the Reports menu.
- Select Reports Center.
- In the search field, type "Expenses by Vendor Summary" and select the report.
- Customize the date range of the From and To boxes to indicate 2024.
Maintaining privacy
Important: Please review these reports before you share them with us. Depending on how your transactions are recorded, they might include your contractor's name. Please review the reports to redact or delete identifying information before sharing.
How to upload your reports to Heard
You may upload this report to Heard by going to Your Practice>Documents>Bookkeeping and next to 2024 Contractor Payments Report click Upload.