Disbursements unlovable in-law
IRS 1099s are the unwanted relative of construction loan disbursements. They're invasive and annoying—and you ignore them at your own risk!
Disbursal Pro can’t get 1099s out of your life, but it does make them far easier to live with.
Click on each feature to learn more about its related benefit.
- Accurate 1099 data
- Visual IRS alerts
- Vendor W-9 notice tracking
- 1099 Printing & Electronic Filing
- Combined offices IRS submission
- Exclude Owners as subcontractors
- Automated Backup Withholding
Accurate 1099 data
If you find that doing 1099s has that certain "element of pain", then your current software is not cutting the muster! Disbursal Pro provides you with highly reliable 1099 data throughout the year, making year's end 1099 production virtually "pain free."
Visual IRS alerts
Whenever a vendor has any incomplete data that will result in an IRS penalty (missing TIN, address, zip code, etc.), Disbursal Pro will display the problem with an attention getting red background.
You always know when a vendor’s 1099 data is incorrect!
Vendor W-9 notice tracking
In keeping with IRS guidelines, Disbursal Pro provides vendor W-9 notification letters and response tracking. You can mail W-9 notifications to your vendors individually, or as a group.
Simple 1099 Printing and Electronic Filing
1099-MISC forms printing and electronic filing are accomplished through integrated programs that are customized for each tax year to meet IRS filing specifications. Designed to accommodate everything from the small disbursement business to large multi-branch, multi-company organizations, the 1099 processing module is include at no extra charge.
1099-MISC forms can be printed on blank, pre-cut paper or on pre-printed forms. 1099 data is generated from Disbursal Pro disbursement data and a "Manual 1099 entry" screen allows you enter and print 1099-MISC forms for data that did not originate from within Disbursal Pro.
Every step of production has been refined down to its purest state. Printing and electronic filing of 1099s just doesn't get any easier—unless of course we do them for you. As a service, CM Systems can print, mail and electronically file 1099s for you at a flat rate of $1.86/ea.
Combine multiple offices into single IRS submission
If you run disbursements out of various branch offices (which use the same Federal Tax ID), then the 1099 data from those offices must be submitted to the IRS as a single business entity.
Disbursal Pro merges the data from disparate offices and combines duplicated vendor data into a single submission record. And any inconsistencies in the data from one office to another are automatically flagged so they can be corrected before submission to the IRS.
Exclude Owners acting as subcontractor
Owners working as a subcontractor can be prevented from being 1099'd on draws for their own labor. Just enter their Tax ID in the Job record and they will not be 1099'd for that Job.
Automated Income Tax Backup Withholding
Described in Vendors