We have a great tip for you today – attach an image of all W-9s received from your vendors to their contact page in Xero. Why is this a good idea? Well, you will thank us later when it’s 1099 time and you have all your paperwork in order.
We think it is a “best practice” to ask for a Form W-9 at the start of doing business with a vendor. We recommend to our clients to verify receipt of the Form W-9 prior to the first payment to a new vendor. This has worked out well for our clients. You can get a Form W-9 on the IRS website. Once you have the completed Form W-9 you can attach it right to the contact in Xero.
Here is how to attach the Form W-9:
Step 1. In Xero, go to Contacts>All Contacts. Either find the existing contact or click Add contact to create a new contact in Xero.
Step 2. Click on the files icon , click Upload files, then browse and attach the W-9.
Congratulations your Form W-9 is added to your contact! We can guarantee you will be happy you did this next time you are preparing 1099s.
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