BILL to Add 1099 Filing Solution to Financial Operations Platform

BILL is adding a 1099 form filing solution to its financial operations platform for small- to medium-sized businesses (SMBs).

The new 1099 Filing lets SMBs and their accountants prepare and file their 1099 forms using the same platform they use to pay and manage their vendors throughout the year, BILL said in a Tuesday (Dec. 10) press release.

“With BILL, businesses can now handle this critical component of tax season with ease and get back to what they do best — serving their customers,” Ariege Misherghi, senior vice president and general manager of AP, AR and accountant channel at BILL, said in the release.

With 1099 Filing, users can request and collect W-9 documents from vendors, select which vendors are 1099 eligible, and view all payments made to a vendor and categorize those expenses in bulk, according to the release.

Users can also generate 1099 forms and deliver them electronically or physically via the U.S. Postal Service to all vendors, the release said.

Once the 1099s have been generated and reviewed by vendors, the user can file all the forms to the IRS electronically, per the release.

The W-9 collection capabilities are available now, and other features related to 1099 Filing will be made available on Jan. 2, according to the release.

“Without the right technology, the process of filing year-end forms for vendors and contractors can be complicated and time-consuming for SMBs, plus it can be challenging to stay compliant,” Misherghi said in the release. “That is why BILL is delivering an intuitive 1099 filing solution — empowering SMBs and their accountants to quickly collect, create and file 1099s in the same place where they’re already tracking vendor payments throughout the year.”

Digital innovations are helping SMBs unlock their own unique advantages while streamlining financial operations and fortifying their resilience by managing tech stacks and optimizing cash flow, PYMNTS reported in November.

“Automation is here to stay,” BILL Chief Customer Officer Sarah Acton told PYMNTS at the time, adding that “for more and more businesses who are not adopting technology, my worry is they get left behind.”

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