What Bill Pay Services Will Do For You

A lot of people have warmed up to the idea of using convenient online banking, but are you still paying your bills the “old fashioned way?” If so, you’re missing out on a convenient, money-saving service. Sound Business Services accounting firm in Atlanta, GA offers a convenient bill pay service to help take care of consolidating and paying your bills electronically.

How Does it Work?

Partnering with an online service called Bill.com, your Atlanta accountant will handle the management of all of your bills for you. The service starts with gathering and consolidating all your bills; you can simply redirect your paper bills to the accountant office, turn over online logins, or fax/email the information. Bills are then posted to an online portal where clients can review and approve/disapprove bills to be paid. From there, the approved bills are paid and then automatically synced with your accounting software.

With the Bill.com service, managed by Sound Business Services all of your bills (paid and unpaid) are available for review 24/7 electronically online; you retain total control of which bills are paid and when. This online bill payment interface is very transparent and doesn’t require Atlanta CPA firms to have to be a signer on your checking account. Cash-position reporting is also offered as an additional service; this convenient add-on works in seamless combination with bill pay services so that clients will always know exactly where they stand financially before approving bills to be paid.

Money Management Features

Atlanta CPA firms recommend that their clients use this service due in large part to its convenience and accuracy: You’ll never miss a payment again, and your credit rating never has to suffer. Since most large businesses and organizations already prefer electronic payments, and have the interface already set up, they’ll receive your funds within a day or two. As for smaller companies or individuals, regardless of whether or not they are set up for electronic payments, these payees can be covered via a check-mailing service. Convenient bill pay services like the Bill.com interface tend to offer these convenient money management features:

1. Automatic payments. Any bill can be fully automated with recurring payments.

2. Total control. While Sound Business Services takes care of setting up the automation, you’re still in full control of which bills get paid and when based upon your available finances.

3. Bill aggregator. Electronic copies of your bills are available online 24/7 and are synced with your accounting software, allowing for easy organization and centralization of your records.

4. Multiple account access. You may pay bills from several accounts of your choosing, such as checking, savings and money market accounts.

5. Account history. Easily view all pending online payments and payment history for each biller at a glance.

Save Time, Energy and Money With Bill Pay

Online bill pay makes bill paying a breeze — imagine never having to write a check on your own again. Using online bill pay managed by Sound Business Services allows clients to simplify their financial lives, feel less stressed and take the hassle out of paying their monthly bills manually. You’ll save money on buying paper checks, stamps, envelopes, and trips to the post office. No more late fees because you forgot to pay your bill by a certain date. With Atlanta CPA bill pay services, you can “set it and forget it.” With just a few minutes of setup, you’ll sleep easier knowing that your bills will be paid on time, every time.

By now it should be pretty clear why Atlanta accountants love online bill pay — and you will too. Simplify your personal accounting with online bill pay today.

Preparing 1099s Doesn’t Have To Be Complicated

Whether you run a small business or a big one, odds are that you’ve used the services of an independent contractor or vendor over the course of the year. While your company generally isn’t responsible for paying taxes for independent contractors, it does have to file a form, a 1099, reporting the amount you paid each vendor or contractor to the Internal Revenue Service (IRS).

Preparing 1099s can seem like another burden your business has to bear. But, the process of doing so doesn’t have to be complicated or costly. An accounting firm in Atlanta can help you through the 1099 process, meaning less headache and stress for you.

Who Gets a 1099?

Part of the process of preparing 1099 forms if determining which vendors need to receive one. The basic rule is that your company needs to issue one to any individual who it paid more than $600 to over the course of the year for services. An independent contractor might be an attorney who provided legal services, a freelance marketing expert, or even the person who kept your business’ books.

People who your company employs don’t receive a 1099. Instead, your business would issue W-2 forms to them, as you paid not only their wages, but also a portion of their taxes.

Not every service provider needs to receive a 1099. If you worked with a corporation, you might not need to prepare a 1099 for it. If the total amount you paid a contractor was less than $600, you don’t need to send him or her a 1099. You also don’t have to send a 1099 to a vendor that you purchased goods or products from, such as the company that sells you paper or office supplies.

How an Atlanta Accountant Can Help You

The process of determining who needs a 1099 and who doesn’t can seem difficult. That’s where an Atlanta Bookkeeper can be helpful. An accounting firm that offers 1099 preparation and processing services takes the guesswork out of completing the forms. The firm is well versed in the rules for 1099 forms from the IRS and is able to determine which vendors need a 1099 and which don’t.

You can hire an accounting firm just to help you prepare 1099s, or you can hire an accounting firm to handle all of your bookkeeping needs, which will make 1099 preparation even less complicated. A bookkeeper who’s already familiar with your company’s accounts and vendors will be able to easily access the information needed to fill out the 1099 forms.

Meeting the Deadlines

When it comes to 1099 preparation and processing, your business has two deadlines to meet. The first deadline is January 31. By that date, your company should have sent 1099s to all the vendors who need to receive one. By the second deadline, the last day in February, your company needs to have sent Form 1096 to the IRS. Form 1096 is used to send copies of all the forms 1099 to the IRS.

Working with a professional tax and accounting firm means your business will meet those deadlines. When you outsource 1099 preparation to an accounting firm, such as Sound Business Services, you can rest assured that all the needed paperwork will be filed on time and without any issues.