Courtesy of Investopedia
A 1099 is a IRS form that is required to show that services were rendered from another business or person. In other words, if you paid someone to do something for you, and it was over $600.00, technically, you should send them a 1099 at the end of the year. Now with most businesses, that’s quite an achievement to keep track of all this information. That’s where Quickbooks Online, specifically QBO Plus, comes in handy. If you complete all of your vendor information at the time when you enter them into the system, you can check a box indicating that you want to send the vendor a 1099 at the end of the year, and then presto, you don’t have to worry about keeping track of that anymore!