QuickBooks Offers Split Billing for e-filing 1099s

Putting aside mixed reactions to news about Intuit and its tax season moves around QuickBooks Live Tax, the company has also released split billing for e-filling 1099s.

Built around the idea of offering flexible billing of QuickBooks Online between accountants and their clients, this split billing option allows accountants to choose who will pay for 1099 preparation and e-filing, without impacting payments for their other QuickBooks Online products. Wholesale customers will have the option of adding their own payment method or allowing their accountant to pay for e-filing, while accountants who handle 1099 e-filing for their direct-billed clients can now elect to use their firm’s payment method for the service. 

Beyond split-billing capabilities, several other updates have been made to the QuickBooks platform:

  • Quick Employer Forms Accountant – The process of creating and e-filing employer forms is simplified with Quick Employer Forms Accountant. Supported forms include W-2, 1099-MISC, 1099-NEC, 1099-INT, and 1099-DIV. Plus, W-3 and 1096 forms can be automatically received. With an unlimited license, accountants can create as many companies and forms as they’d like during the tax year.
  • 1099 e-filing Reports – Customers can now access two new automatically generated reports while e-filing for their 1099: “Accountants used to pay vendors report” and “Transaction & accounts organized by vendors report,” which will provide insight into which transactions should be included on their 1099 forms. Customers will also have the ability to e-file corrections directly from their QuickBooks Online account for no cost.  This is especially advantageous given the new restriction in 2024 that mandates e-filing corrections for 1099s and W-2s.
  • Reports in QuickBooks Online Advanced – Accountants can now access three new report options — Work in Progress, Invoices vs. Estimates, and Estimates vs. Actuals.
  • Expense Reporting – New options and simpler views have been added for clients’ QuickBooks Online expense reports, giving accountants the ability to visit expense reports to see what’s new, including options for filtering within the report header, one place to choose customization options, and a clearer display of report options. 

To learn more about these updates and beyond, see here.

Leave a comment

Your email address will not be published. Required fields are marked *

1 + eighteen =