The initial phase of the beta release of this workflow is currently available, with second phase to be introduced later in the year. Credit: NONGASIMO/ Shutterstock.com.

Qount has launched an updated 1099 Workflow, leveraging AI to simplify the tax filing process for accounting firms. 

The enhancement is designed to automate and consolidate the entire 1099 cycle, from client onboarding to the final filing, within a single platform. 

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The new system incorporates features such as mass client enrolment, synchronisation with QuickBooks Online, optical character recognition for W-9 forms, and AI-assisted mapping of chart of accounts.  

These capabilities are intended to facilitate a streamlined management of the 1099 process, potentially reducing the time required to collect client and vendor data by up to 67% and accelerating the cleanup, review, and filing stages by as much as 50%. 

In addition to time-saving measures, the enhanced 1099 Workflow aims to redistribute workload to the final quarter of the year, thereby balancing staffing demands and enhancing overall client satisfaction. 

It also provides a unified audit trail to aid in the review process. 

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Qount chief product officer Sarika Arora said: “The 1099 filing season has always been defined by late nights, scattered spreadsheets, and deadline risks. Qount’s 1099 automation gives firms control and visibility, allowing them to prepare earlier, eliminate errors, and deliver a smoother client experience.” 

The initial phase of the beta release of this workflow is currently available, with a second phase that includes direct electronic filing expected to be introduced later in 2025.  

Set up in 2016 with headquarters in the US, Qount offers an AI-driven platform for accounting firms.  

The company combines operations, including time-and-billing, CRM, collaboration, onboarding, client portals, and document management, into a single, streamlined system.