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    How to Better Prepare for Next Year’s 1099 Season

    [fa icon="clock-o"] Jan 30, 2018 8:08:00 AM [fa icon="user"] Kathy Dise

    With all your 1099s done for 2017, it’s time to prepare to make the job easier – next year. Did you scramble to find copies of your vendors’ W9s? Here are some tips that can proactively help you slide through next January with ease:

    1. Use your QuickBooks Preferences (Settings in QuickBooks Online) to set up your system to track 1099 information for your company.
    2. When you receive a W9 for a vendor, input all necessary data into the vendor profile under Tax Settings (Vendor in QuickBooks Online) which will make producing required 1099s a breeze come January.
    3. Use QuickBooks “attach” feature to scan/save your vendors’ W9s to their vendor profile in QuickBooks. This keeps them organized by vendor – no more searching around for them in January and possibly preventing the need to reach out to that vendor for another W9 copy.how-to-use-quickbooks-attach-feature.png
    4. Also consider “attaching” a copy of the 1099 you issue to vendors’ profiles, especially if you manually create them instead of using QuickBooks to produce their 1099s. Vendors often request copies of their previous years’ 1099s from companies – this will greatly assist you in finding them quickly and efficiently.
    5. Toward the end of the year, review your 1099 settings in the 1099 Wizard to see where you might have missing information for vendors new to your company.

    This is one of the services we provide at BudgetEase. Contact us below for a free consultation.

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    Kathy Dise

    Written by Kathy Dise

    Kathy has over 30 years experience helping small businesses succeed. As a commercial lender, commercialization expert and now as a QuickBooks diamond level advisor, Kathy understands the challenges small business owners face. Her experience helps business owners quickly accomplish their financial goals. As the owner of BudgetEase, Kathy works with clients to develop a plan to efficiently process 1,000s of small transactions so owners can make informed decisions. She lives in Shaker Heights, OH with her husband Ralph and enjoys golf, curling and walking in Cleveland’s fabulous Metro Parks.

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