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Countersignature 1099 misc form

conference now let me jump into my topic before we pass it on to Greg and Dawn I'm going to quickly cover the new 1099 miscellaneous forms in QuickBooks Online first of all let me say in my opinion one of the best things I've seen Intuit I'll do for the quickbooks online product in a very very long time it is absolutely amazing I'm I'm I'm super happy about how simple and easy it is to use so let's jump to that let me go into google chrome I think you should be able to see my browser now and I have a QuickBooks Online account open and one of the things that is noticeable is they added a new tab called workers if I click on a new tab called called workers you're gonna get a basically looks like a new screen that splits employees and contractors as two different sub tabs a contractor in QuickBooks is basically a vendor that has been marked as a 1099 contractor let me explain what that means so if I go into the expenses tab and go to the vendor tab which is a traditional place where we create our vendors and I create a new vendor from this screen so let me click on new vendor and I'm going to create here Carlos Garcia there's a little check box here that says track 1099 payments so if we are dealing with a contractor that we want to issue a 1099 at the end of the year we have to hit that check box whenever we hit that check box QuickBooks will copy that vendor information over to that workers contractors section which is then where you're going to be able to manage all the 1099 information now in order to do a 1099 you need to have a tax ID you need to have the address I mean these are fundamental pieces of the 1099 process so we're going to go ahead and click on save and you'll miss a number here you could save let's see one two three four five six seven eight nine I should cover it I have to you have to use that - in there didn't realize there was a requirement so we click on save so there's my Carlos Garcia contractor so when I click on workers and then click on contractors I'm now gonna see them in the list of contractors now once you generate checks and bills for those vendors you are then gonna be able to prepare a 1099 at the end of the year now this is drop dead simple to use once you've done your regular checks and Bill's you click on the preparer 1099 but button on the top on the pricing you actually have to pay an extra fee I believe is where is it it is $15 that that includes three forms and then each additional form is 399 and beyond 20 forms are free now this is the first year that they do this pricing let me zoom in a little bit so for what I understand is you're gonna pay 15 bucks for 3 1099 s then $4 a form and then for the 21st contract run on you don't pay any extra so that is absolutely amazing I got some kinds I have like a lot of contractors and this is gonna be an extremely low price for them relatively speaking with what they paid in the past so we're gonna click on prepare 1099 and then click on continue - your 1099 s the first box is gonna make sure that you have full information about each contractor if you click on any of these contractors and they're missing information you then are going to be able to enter name last name address social security number all that information in there QuickBooks even included a new feature where when you create the worker at the beginning it will ask you if you want to email the worker a link so they can enter their own w-9 information so let me show you what that looks like when the when the subcontractor gets an email they get an email like this and says hey this company this company is asking you enter 1099 details you click on add your details now and it basically sets them up with a free which is amazing free QuickBooks self-employed account so they have to create a QuickBooks self-employed account and then once they enter all the information there the name the address a tax ID or social security number whatever it might be QuickBooks automatically updates that on the QuickBooks Online side that way you don't have to type all that information by hand however you can just click on it and enter it by hand if you already happen to have that information so you don't necessarily have to have the contractor enter the w-9 info but you can do it on your own then we click on finish preparing 1099s and that's it it takes you to the payment screen you click on go to e-file service process it and it takes literally minutes I mean I was afraid of doing a demo on this because I was thinking oh this was gonna take a long time I won't be able to do this in five minutes I literally did it in five minutes so I'm actually really really impressed by that it's the first time I seen Intuit create something so simple especially for non accountants I mean for accountants we can figure things out but for end-users you know this is super simple easily