QuickBooks update splits 1099 cost with clients

Accountants and clients will now be able to split Form 1099 e-filing costs through Intuit QuickBooks with the introduction of a new "split billing" feature.

Previously, wholesale-billed QuickBooks clients were unable to pay for 1099 e-filing services on their own, which meant many accountants preferred that clients do this filing themselves. This was because customers had to be categorized as either 100% wholesale, where all client subscriptions are paid by the accountant, or 100% direct billed, where the client pays for all subscriptions.

Split billing will allow accountants to choose who pays for 1099 preparation and e-filing and to what degree. 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 the new billing feature, QuickBooks also announced a revised Quick Employer Forms Accountant, with a redesigned user interface, reduced page load times, and revamped navigation. QuckBooks also announced 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. 

There are also new reporting capacities. For QuickBooks Online Advanced, project-based clients will have three new report options — Work in Progress, Invoices vs. Estimates, and Estimates vs. Actuals. The Expense Reporting feature will also sport new options, such as filtering within the report header, one place to choose customization options, and a clearer display of report options. 

Further, the software now allows users to download all the 1099 filings from this year and last year, and e-file corrected 1099s.

Intuit also added that QuickBooks will no longer support print alignment, and any formatting will have to be done in the user's browser print settings. Further, Intuit is currently experiencing issues with bulk untracking contractors for 1099s. They are working to improve the feature and apologize for any inconvenience caused.