Steps to Take Before Using 1099 Processing Software

Small businesses that plan on hiring independent contractors should prepare themselves with solid 1099 processing software. Running a small business is no easy feat these days. The rise of remote workers means that businesses may need to submit multiple types of forms. Your payroll specialist or in-house accountant has their own human limitations. Running a company’s payroll manually is a thing of the past — and for good reason. Small businesses can reduce any errors and the chance of incurring penalties when they invest in 1099 accounting software.

Advanced Micro Solutions’ W-2/1099 software can help small businesses stay compliant and efficient. Whether you need a secure source for your storage or the ability to electronically file documents, AMS offers a solution. Small business owners can avoid unnecessary headaches as they manage invoicing and bookkeeping or run the company’s payroll.

 

How to Make 1099 Processing Software Simpler

You may feel compelled to wait until the last minute to file your Form 1099s. Procrastinating with any tax-related forms is a mistake. Confirm the dates that you owe any reports or forms to the Internal Revenue Service. You can prepare for 1099 processing in a few additional ways.

Keep your records organized throughout the year. Organization is key if you want to aim for a painless tax season. You can streamline some of your organizing by getting reliable software. Always strive to keep your data in one secure location.

Review your business’s records. Check that you have collected each Form W-9 for all of your contracted workers. Send the forms as soon as possible so that you can avoid 1099 processing software delays or address any contractor mistakes.

Update independent contractor personal information. Submitting reports with any missing or incorrect independent contractor information can create major issues. Play it safe as you review your files and call or email workers to confirm that their information is up-to-date.

Get the official forms early. Confirm that the software you might download includes the forms that your business needs. Generating forms with 1099 software can be less expensive in the long term compared to printing or buying individual forms each year.

Send out all of the required documents. Send a Form 1099-NEC to any contracted workers that you paid at least $600 in the past year. Distribute the forms by Jan. 31 to your contractors. Make sure that you submit your business’s 1096 forms with any non-electronic documentation.

 

Use AMS for 1099 Processing Software

Small businesses know what other small businesses need in processing software. AMS created an accounting suite of tools that support as many as 99,999 employees or recipients per payer. Users can enter data onto entry screens that resemble the actual tax documents. Our Common Payee File also allows users to select a payee across payers or 1099 forms without entering the same information into the program multiple times.

Download our free software demo to try a functional version of our 1099-etc software. Call our customer support team at (405) 340-0697 with any additional questions.

Software Solutions from AMS

Our W-2 and 1099 Forms Filer is our only required platform. From there, users pick the services they need. Choose from the tools below to build out your customized accounting software.