Prepare 1099s
Updated over a week ago

Keeper's Prepare 1099s report is designed to help you get everything ready for filing 1099s for your clients in January. It's an all-in-one report to:

  • Find out which of your client's vendors need 1099s

  • Track vendors with missing W9s

  • Request W9s from your client or their vendor through the Client Portal

  • Export the report as a CSV that you can upload to your 1099 filing tool of choice


How it works

Opening the report will show you a list of your vendors, sorted by spend, and filtered to exclude credit card transactions and vendors spend totaling less than $600.

  • Credit card transactions are filtered out by default because vendors paid by credit card receive a 1099-K from the card network rather than a 1099-NEC or 1099-MISC from your client.

    • See here for how to exclude debit card transactions.

  • Vendors with total spend less than $600 are filtered out by default because that is the threshold where businesses are required to file 1099s.

Once in the report, you can enter all the information you need to prepare your client's 1099 filings. Once you have finished, you can click the download button in the top right-hand corner to export the list of vendors as a CSV that you can upload into your 1099 filing software.

If you need to add the Prepare 1099s report to a client's file, you can do so by click Add New in the Payee/Entity Review section and add the 1099s Report.


Managing Files and File Requests

If you have a W9 for a vendor, you can upload it here and use it to enter in the needed information. You can also upload the document to QuickBooks as an attachment to the vendor directly from Keeper.


File Requests

If you need a W9 for a vendor, you can request it from your client by clicking the Ask Client button. Doing this will add a non-transaction question to your Client Portal that is tagged as a W9 Request.

You can also request files directly from the vendor. Learn more about that here.


What is saved in Keeper vs. QuickBooks/Xero

Some data in this report is saved back to QuickBooks, while other data is stored in Keeper. See the table below for a breakdown:

Data

Stored in

Vendor Name

QuickBooks/Xero

Legal Name

QuickBooks

Email

QuickBooks/Xero

Address

QuickBooks/Xero

EIN / TaxID

QuickBooks/Xero

1099 Needed?

QuickBooks/Xero

1099 Type

Keeper

2023 Filed

Keeper

W9 on File

Keeper

Chat / Comments

Keeper

Files

Keeper, but can be uploaded to QuickBooks


Excluding Individual Transactions

If you need to exclude individual transactions from this report, you can do so by clicking the "Exclude" button on the right-hand side of the Transaction Detail Table. Re-running the report will update the vendor total spend amount to exclude that transaction.

If you need to re-include the transaction, you can manage your excluded transactions from the Excluded List in the top right-hand corner of the report.


Excluding Transactions by Check Number

Debit card transactions are excluded from 1099-NEC/1099-MISC reporting because payees receive 1099-Ks from the card networks, so they should not be included in your vendor totals.

There is no native concept of a debit card transaction in QuickBooks, however there is a workaround to filter these transactions out of your Prepare 1099s report in Keeper.

Step 1: While you're categorizing transactions in the bank feed, you can add a check number to any debit card transactions. ***

Step 2: Then, you can add that check number to your exclusion list in Keeper.

Once you've done this, any check numbers that contain those values ("debit" or "dbt" in the example below) will be excluded from your vendor totals.


You only need to do this once - after you've set up the mapping, all future transactions that contain these check numbers will be excluded.

Pro tip: we recommend choosing something short / quick to type, like "dbt".

*** If you don't see a check number option in your bank feed, make sure to enable the "Check No." setting in your bank feed.

Excluding transactions by check number is currently supported in QuickBooks but not Xero.


Export to Track1099 / Tax1099

Keeper has export options that make it easy to get your data into Track1099 or Tax1099 for e-filing. To export, click the download arrow, then choose the format you want to use.


Keeper will export two CSVs: one for 1099-NECs and one for 1099-MISCs). So if you only see one download, please make sure your browser allows multiple downloads (you may see this warning the first time you export).

If you use Tax1099, please note that you will need to fill out your client's information in columns A through Q, as we do not have that information in Keeper.


Tips and Suggestions

  • If vendors do not require a 1099, leave a comment to indicate why (e.g., "they're a corporation.")

  • Once you are finished filing 2023 1099s, keep checking this list in future months to prevent year-end work from piling up in 2024! 😊


Frequently Asked Questions

Why do customers and employees show up in the Prepare 1099s report?

Customers and employees show up in the Prepare 1099s report to give you an opportunity to review for errors in case a vendor has been added to the QuickBooks file as a customer or employee.

For example, if you see a refund in a bank feed and need to create a new vendor, QuickBooks will default to creating a new customer instead.

You can hide these customers and employees by setting them as 1099 Needed = No.

Note: The YTD Spend total does not include Journal Entries.

What is the difference between Vendor name and Legal name?

The Vendor name is the vendor's display name in reporting (it's also called the Vendor display name in Quickbooks). This vendor name will show up in all vendor and financial reports in Keeper and Quickbooks/Xero.

The Legal name represents the vendor's legal entity name as reported on their W9 (if different from their DBA or vendor display name). This legal name is also knows as the Company Name in QuickBooks. The legal name is the vendor name you will use for filing 1099s and will export to the vendor name fields in the Tax1099 and Track1099 exports.

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