$30. That’s what it costs per 1099 if you miss the IRS filing deadline by even one day.
Let’s say you have 20 agents. That’s $600. Or maybe you have 100 agents. That’s $3000. Turns out that one overlooked day will cost you. So, what do you do to prevent those $30 fees from adding up?
Like a lot of other brokers, you probably let QuickBooks® take care of your 1099s. It’s accurate, simple to use, and easily the most popular accounting software for small and midsize businesses. The controller or office admin is usually in charge of entering all the commissions throughout the year and will ensure that you meet the 1099 deadline with ease.
But what happens when you don’t have a direct QuickBooks integration? The admin has to enter the same information twice: first into your back office software or an Excel spreadsheet, and then again into QuickBooks. In essence, your brokerage is doing whatever it takes to meet the deadline (and avoid needless fees), but in the meantime, you’re spending hundreds or even thousands over the course of a year on redundant data entry without even noticing it.
What good is technology if your employees are doing double the work without reason?
QuickBooks for Real Estate Brokers
You can avoid the expense of redundant data entry with a QuickBooks-integrated solution like Emphasys Back Office. Back Office automatically pushes the transactions to QuickBooks; it’s a seamless experience that dramatically increases efficiency.
“Emphasys Back Office has eliminated a lot of our work; it’s more streamlined, the integration to QuickBooks really works well. Training and support was and have been fantastic and would definitely recommend Back Office.”
Base Camp Realty of Richmond
Brenda Crockett, Broker
Back Office saves you time and money in other ways, too. It houses hundreds of reports to offer business insights that are impossible to get with spreadsheets or with weaker software options. Detailed earnings statements allow you to hold your agents accountable and motivate them to produce.
Back Office is also easy to learn, so you never spend a lot to train new people. Plus, the popularity of QuickBooks ensures that your accountant or bookkeeper will know exactly what to expect.
When it comes to your 1099s, duplicate data entry will be a thing of the past.