Payroll by Wave does not support contractors or offer 1099s for your contractors. The good news, though, is that you can still keep track of your payments to contractors through Wave!
To record a payment to a contractor using Bills:
You will want to add the contractor to your Vendors list and then create a Bill to represent the service, follow the steps here:
- Navigate to Purchases > Vendors
- Click on Add a Vendor > Enter in the contractor's details, and hit Save at the bottom of the page.
- When you request service from your contractor, you'll want to create a bill in your Wave account. To do this, navigate to Purchases > Vendors
- Click on Add a Bill and record the services rendered, then save your changes.
- Once you've paid your contractor, you can mark the Bill as PAID and a corresponding expense transaction will be created on your Transactions page as a Bill Payment. See our FAQ on how to add a payment to a bill for step-by-step instructions.
At year-end, you can generate an Expense by Vendor report from the Reports page for an overview of the payments made throughout the year.
To record a payment to a contractor using Journal Entries:
- Navigate to Accounting > Journal Transactions
- Click Add Transactions
- Credit the account you are paying the contractor from, and debit the expense.