WP1099 is the perfect bookkeeping plugin without any bookkeeping involved. I know that sounds like oxymoron comment, but it’s completely true. What essentially WP1099 does is organize all your contractor payments in a simple and easy to use file. It completely automates the manual process of typing all your payments information into a spreadsheet. Could you imagine how long it will take to type over 700+, or even 50, payments into a spreadsheet?
Now, I know a lot of CPAs. The good ones charge their clients by the hour cause they have a love hate relationships with un-organized clients. They hate them because they usually result in more work; however, they love them because they can charge them more money. WP1099 will help you get organize, which will result in less accounting and tax prep fees. In addition, WP1099 integrates with Yith WooCommerce Multi-Vendor, AffiliateWP, WooCommerce Product Vendors, and more. See the full list here.
WP1099 plugin aggregates all your payouts in a simple csv file. With the csv file, you can send it to your CPA for 1099-MISC filing or you can upload it into a tax program like Turbo Tax. It makes your 1099-MISC filing easy and simple. It saves you A LOT of time that could be spent attending to customers or trying to land a new client. Who wants to spend a day or a week doing manual data entry for tax season?
In addition, 1099-MISC must be file in January. It only gives gives you a month to compile all your data to create 1099-MISC then file with the IRS and then send it out to all your contractors, affiliates, or vendors. It’s an extremely tight deadline and it’s a lot of added pressure that you don’t need in your life. WP1099 eliminates the pressure with an easy csv file with totals for each vendor, affiliate, or contractor paid during the year.
WP1099 Review: Dashboard
WP1099 has a dashboard within your WordPress site. It will list every affiliate or vendor who reaches the annual 1099-MISC limit and it displays payouts for each integrated plugin. This is also useful if you want to increase commissions on certain products. It summarizes all your affiliates or vendors payments to determine the amounts in each 1099-MISC box.
After the export, you have the opportunity to review the payments. The review aspect is important because you might have made payments via Venmo, in person, by check, or etc. This will make sure you include those offline payments in the totals. It’s a simple summary of all your payments and the amounts are all populated for you. Easy as 1-2-3.