1099 tracking becomes an important aspect of year end compliance. 1099s are required for vendors to whom you submit payments. The IRS provides many details regarding 1099’s and who they apply to. For more information check out https://www.irs.gov/businesses/small-businesses-self-employed/am-i-required-to-file-a-form-1099-or-other-information-return
Crunched makes it very easy to track your payments to vendors where 1099’s apply. Simple check the 1099 box to the right of the zip code field when creating your payment. At year end when running your 1099 report, those payments will be reported for processing.
You may also set up vendors as a 1099 recipient.