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:
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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. - ADP: Payroll Report Summary - Contractor
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Quickbooks: Transaction List by Vendor
In Quickbooks 1099 contractors are categorized as Vendors, you may have access to different types of vendor reports depending on your subscription.
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 2023 Contractor Payments Report click Upload.