Seamless 1099 Filings Unlocked: How TaxBandits Made It Easy for Sage Intacct Users to E-file 1099s.
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his case study explains how TaxBandits created a valuable solution for Sage Intacct, a cloud accounting and financial management software leader for mid-sized and growing businesses.
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Overview of Sage Intacct:
35
Million businesses
60
Million customers
Sage Intacct is the best-in-class cloud-based accounting software. It oversees over 35 million businesses and over 60 million customers worldwide to boost operational potency and obtain insightful real-time data on their finances to increase profitability and productivity. The business is expanding naturally, with its headquarters in San Jose, California. It offers an accounting software suite that could serve medium- and large-sized businesses.
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Difficulties Encountered:
Sage Intacct users encountered problems with 1099 filings before partnering with TaxBandits. These difficulties revolved around manual processes, data accuracy, compliance issues, reporting limitations, e-filing complexities, and the absence of dedicated support. The absence of a dedicated e-filing solution resulted in inefficiencies in supporting the Data accuracy issues, secure E-filing, Postal Mail Recipient Copies, and distribution of recipient copies based on their client’s requirements.
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What are the requirements of a Sage Intacct(cloud-based accounting firm)?
To address its pain points, Sage Intacct actively pursued an e-filing solution for filing the 1099 Forms. It aimed to improve the efficiency of its 1099 tax filings and overall management. Some of their specific requirements are:
Challenges in 1099 filing:
Sage Intacct users used Paper filings for 1099 forms that manually input vendor information, payment details, and other relevant data onto physical forms. This process was time-consuming, prone to errors, and required significant effort, especially for businesses with numerous vendors and transactions. Users needed a timeframe for organizing, storing, and retrieving paper files, which led to inefficiencies and potential difficulties in audits or inquiries. Sending paper 1099 forms via postal mail involves additional steps and costs. Users needed time to print, package, and mail the forms to vendors and tax authorities, which led to delays and increased administrative burden. So, the firm was searching for a unique solution that offered an alternative to the filing process.
Data Integration:
Sage Intacct had numerous clients from various industries, and the data required for 1099 tax filings was in different formats.1099 tax filings require gathering information on payments made to contractors, freelancers, and other non-employees. However, the data required for these filings can come in different formats depending on their origin sources, such as invoices, payment records, or expense reports. To address these challenges, the firm preferred a seamless solution of data import options that would enable it to accurately integrate all the data necessary for filing 1099 Forms.
Data Accuracy Issues:
Manual data entry increased the risk of inaccuracies in 1099 filings for Sage Intacct. They made mistakes such as typos, incorrect amounts, or missing information, which led to compliance issues and potential penalties from tax authorities. So, the firm searched for an exclusive solution to avoid data accuracy issues related to 1099-NEC, 1099-MISC, INT, DIV, R, B, S, K, PATR, SA, and
OID filings.1099 forms that require State filings:
With so many 1099 forms to file, Sage found it difficult to efficiently and securely manage 1099 filings for states that required them. So, they wanted an e-file solution that provided the 1099 state filing, making the process smoother and more compliant.
Recipient Copy Distribution:
Sage Intacct opted to distribute copies of the 1099 forms to their recipients through postal mail or online access. In addition to providing a physical record, they aimed to ensure accurate delivery of postal documents. Consequently, the firm sought a solution that offered an efficient process and adhered to official standards through postal delivery or a secure online access portal.
Dedicated Customer Assistance:
The firm preferred reliable and responsive customer support solutions that promptly addressed issues or questions. This included access to the knowledge base, which helped Sage Intacct navigate challenges or provide assistance as needed.
Complete Security:
The Sage Intacct wanted to guarantee their clients that all their data were safe and secure. This was compulsory for them since they wanted their clients to trust them with sensitive information.
Implementing TaxBandits E-filing solution:
TaxBandits understood Sage Intacct's challenges and developed comprehensive and integrative solutions to streamline its 1099 filings for its users with the IRS.
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Streamlining the 1099 filing:
TaxBandits provided Sage Intacct users with an efficient e-filing solution that addressed the challenges of manually filing 1099 forms on paper. By integrating seamlessly with Sage Intacct, TaxBandits eliminated the need for manual data entry, allowing users to directly import vendor information, payment details, and other relevant data into electronic forms. This streamlined process significantly reduced the time and effort required for filing, especially for businesses with numerous vendors and transactions.
Furthermore, TaxBandits' e-filing solution allowed users to store and access their 1099 forms electronically, eliminating the need for physical paperwork and reducing the risk of inability and difficulties in audits or inquiries. Instead of mailing paper forms via postal mail, users could electronically submit their 1099 forms to vendors and IRS, saving time, reducing costs, and minimizing administrative burdens associated with printing, packaging, and mailing. TaxBandits provided a unique and efficient alternative to the traditional paper filing process. It offered Sage Intacct users a streamlined solution that improved accuracy, efficiency, and compliance in 1099 filing.
1 Data Integration:TaxBandits offered Sage Intacct users a crucial solution for preparing 1099s: gathering the vendors and their payout data and manually importing them to another software/system to generate e-file returns. The Sage users followed these straightforward steps to integrate their Sage Account with TaxBandits:
- Log in to Your Account: The Sage User accessed their Sage Intacct account to initiate the integration process.
- Complete Necessary Configurations in Sage: Carried out the required configurations within their Sage Intacct account to prepare for the integration process.
- Generate Batch ID and Click E-file: Created a Batch ID and proceeded to Electronic filing of 1099 Forms within their Sage Intacct account.
- Login to Your TaxBandits Account: Sage users Entered their TaxBandits credentials to continue the integration process.
- Authorize TaxBandits to Access Sage Information: TaxBandits accessed the information from their Sage Intacct account.
- Initiate the E-filing process: Now, they are redirected to the Sage account. Click ‘Batch ID’ to proceed with the filing process in TaxBandits.
That is all. Importing the data into TaxBandits was easy. The last step was to check the return and transmit it from the TaxBandits platform straight to the IRS and State.
2 Improved Data Accuracy:The integration between Sage Intacct and TaxBandits ensured a smooth data transfer process. Integration eliminated the need for manual data transfer and significantly reduced the chances of errors. By directly importing data from Sage Intacct, users ensured their tax information was accurate and up-to-date. This not only streamlined the filing process but also enhanced the overall compliance.
3 1099 forms that require state filingsTaxBandits offered Sage Intacct not just federal filing but also supported the e-filing of 1099 forms with the necessary state agencies. With so many 1099 forms to be filed, TaxBandits helped Sage Intacct to efficiently and securely manage 1099 filings for states that required them.
4 Recipient Copy Distribution:Sage users regularly distributed 1099 forms recipient copies at no cost. Through TaxBandits’ online access portal, recipients received a secure email link to access and download their tax documents conveniently. For those who preferred traditional postal mail, TaxBandits offered a cost-effective option to deliver recipient copies on their behalf.
5 Dedicated Customer Assistance:Whenever SAGE needed help with the 1099 Form filings, they received prompt customer support from TaxBandits. By seamlessly integrating with TaxBandits, SAGE revolutionized its 1099 electronic filing requirement. Thanks to TaxBandits' dedicated customer support, Sage Intacct could focus on their
client satisfaction.6 Complete Security:TaxBandits offered Sage Intacct users a complete guarantee that all their data were safe and secure. TaxBandits employed encryption protocols to secure data transmission between Sage Intacct and TaxBandits' servers. This ensured that sensitive information, such as vendor details and payment data, was protected from unauthorized access during transfer.
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Conclusion
TaxBandits has significantly simplified the 1099 form filing process for Sage Intacct users, addressing numerous challenges they previously encountered. Integrating with TaxBandits has eliminated manual data entry, improved data accuracy, and streamlined the filing process. When Sage Intacct users filed 1099 Forms through TaxBandits with the IRS, they provided a particular benefit: a 10% discount on their federal filing fee.
Together with TaxBandits, electronic filing is quick, simple, and safe. US customers send 1099 data from Sage Intacct to TaxBandits with a single button click. TaxBandits helped clients file error-free returns to prevent penalties, corrections, and multiple filing costs by using automated validation to detect typical filing problems. The 1099 Forms were distributed to recipients, and tax information could be filed to the IRS instantly with real-time status updates.
Overall, TaxBandits has simplified the Form 1099 filing process and enhanced efficiency, accuracy, and compliance for Sage Intacct users. Seamlessly integrating with TaxBandits has authorized Sage Intacct to confidently and efficiently manage its 1099 filings.
Why TaxBandits?
- An End-to-End E-filing Solution
- Workflow Management
- Seamless Integration with Leading Accounting Software
- Personalized online portal for both Client and recipient
- W-9 Manager
- Dedicated Customer Support