When a 1099-MISC eligible vendor is paid more than $600.00, and they are not paid by a credit card or third-party network such as PayPal, you will need to issue them an annual 1099-MISC form. With this service, your accountant will setup and/or update up to 50 vendors for you in QuickBooks Online. Your accountant will also make sure that payments that you have made to these vendors are correctly reported on their 1099-MISC forms. Your accountant will review vendor W-9 forms that you provide together with their QBO payment history to determine which vendors are 1099-MISC eligible. Two reports will be created, one for vendors that should receive a 1099-MISC form, and one for vendors who are not eligible to receive a 1099-MISC form for reasons such as they are Incorporated, they were paid less than $600.00 during the year, or they were paid by a third-party network. Your accountant can also utilize the feature to invite 1099 eligible contractors to complete their own tax information and upload their own W-9 forms within your QBO account.
Your Accountant will Add and Update Vendors and Contractors
With this service, your accountant will send a notification requesting vendor details that will show up on your client dashboard. You can enter vendor details directly within the request as well as upload vendor information into a folder within your secure document upload portal. You can also email vendor information directly to your accountant. Once your accountant has completed the process of setting up your vendors and has validated the list of 1099 recipients, they will perform the E-Filing process. During this process your accountant can give your vendors and contractors free online access to their 1099 form. We do not print and mail hard-copies of 1099-MISC forms, they are mailed to contractors by Intuit. Your accountant will download electronic copies of the filed 1099 forms and upload them into the From My Accountant folder located within your secure document upload portal. The cost of E-Filing is not included with this service. Please expect your E-filing fees to be bill to you by Intuit. Find QuickBooks Online 1099 E-File pricing here: 1099-E-File
Accounting and Bookkeeping Support by a QuickBooks ProAdvisor Program Member
I founded Lend A Hand Accounting because I believe accounting and bookkeeping services should be affordable, efficient, and flexible. We use flat fee pricing, which makes our accounting services a comfortable fit for any budget. At Lend A Hand Accounting, we’ve found a formula that really works! You select the accounting services you need, and control when you want to start or stop services. It is all in your hands! We’ve cut out the need for endless phone calls and long trips to the accountant’s office.
Feel free to call or text me now at 360-637-4799. We can also get started right away. Go ahead and create a free account and we can automatically look at your books and let you know where you stand.
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The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.