Stay vigilant of your company’s growth to know when it is the right time to get 1099 software for medium-sized businesses. Businesses may grow out of their accounting and payroll software in time. Certain software has limitations as you continue to grow. Discuss these restrictions with a vendor before you purchase any 1099 program. Avoid getting tax software and in a few months’ time needing a new system for your actively evolving business. Determine the level of scalability that you need now and may need in future months or years.
Advanced Micro Solutions’ base W-2/1099 Forms Filer program is preferred by both small and medium-sized businesses across industries. The software supports W-2, W-3, and many 1099 forms. It also supports up to 99,999 employees or recipients per payer across all 50 states and the District of Columbia and Puerto Rico.
What are Good Features in 1099 Software for Medium-Sized Businesses?
Try not to shortchange yourself when it comes time to invest in the best software for your business. Look for a few of the most fundamental features, such as:
Digitization and Regulatory Compliance – Eliminate manual data and paper invoice entry processes when you invest in automation tools. Reduce your business’s error rate and major risk of fraud. Stay compliant with 1099 software that includes up-to-date tax tables.
Diverse Modular Capabilities – Speak with a prospective vendor about how their system integrates with other programs and any additional software they offer. Some 1099 software vendors like AMS sell a modular suite of tools. The best 1099 software for medium-sized businesses allows every user to generate and electronically file important tax documents throughout the year with only a few simple clicks.
Automated Reporting and Processing – Look for a 1099 system with a Common Payee File. Select a payee across payers or 1099 forms without needing to enter the same information on more than one occasion. Another great automated 1099 feature is if your system automatically saves its data whenever you access a new file or form.
Flexible Scalability – Scalability matters whether you hire more employees in one location or expand your business’s geo-locations. Save time and effort when you find software that allows you to batch print your reports and forms for multiple payers.
When to Find New 1099 Software
Do not put off getting 1099 software for your medium-sized business until you exceed your current software’s capabilities. Plan ahead carefully and look out for the following signs that you need a new program. These may be:
You are overwhelmed and have missed important deadlines. Streamline your quarterly and annual deadlines with efficient 1099 software. Avoid missing 1099 deadlines or any employment tax due dates with software that keeps you organized. Eliminate manual reporting and free up a lot more time to focus on other important day-to-day or weekly tasks.
You want to assign work to both employees and independent contractors. Smaller 1099 software may not have the bandwidth to support your employees and independent contractors. Begin looking for the right 1099 software that is made for medium-sized businesses and generates many of the different types of 1099s, W-2s, and additional related forms.
The current software is near capacity. Try not to back yourself into a corner with the number of employees or recipients that your software can support. Consider investing in a program that offers more than you need if you suspect you will need it later. Weigh the price now with what a cheaper system could cost your business later if you need to trade it in for a larger one.
The existing software does not efficiently store your business’s data. Make sure that you have access to all of your business’s important forms and documents. Stay prepared for any possible audits from the Internal Revenue Service. Reduce the risk of fines and penalties for losing data or misplacing it in filing cabinets.
Get Started with AMS Software
Explore the best 1099 software for medium-sized businesses with our free 1099-etc Demo software. The demo gives small and medium-sized businesses insight into our modules and how they can create a full accounting suite of tools. Our six optional add-on modules include: AMS Payroll, Software Generated Forms, E-File, 1042-S Filer, Affordable Care Act Filer, and Forms Filer Plus. Add any or all of these modules to our core W-2/1099 product.
Enter data with minimal stress onto entry screens that look like the actual form. Input your data using a spreadsheet format with the software’s Browse command tool. Select entry fields using Tab, Enter, and arrow keys, as well as clicking on a specific field with the mouse.