Contractors, schedules & 1099s

DCTigerDCTiger Member Posts: 2
I run a 501c3 boosters club for our local high school. We have a number of coaches whose stipends we pay and I’d like to streamline and organize this process. I’ve read what I could here. Your documentation is fantastic.

1. We will be paying out coaches probably 3x/year. I’d like to do direct deposit. Will we have to pay the monthly payroll fee during months we won’t be using the service?

2. We have coaches we’ve already paid this year (2019). Is there a way for us to log in their info so that we can have Wave issue 1099s to them at the end of the year?

3. If a coach also needs to get reimbursed for an expense, do we need to add them twice? Once as a contractor/vendor (for 1099) and second as something else? (Don’t want expense reimbursements to show up on their 1099).

4. We are hiring an outside bookkeeper. Is Payroll a separate or integrated part of the system? I don’t want the bookkeeper to have access to coach SSN etc.

5. Did I read correctly that Wave now offers portals to contractors and employees?

Thanks in advance for your help. I have a couple dozen or more coaches to pay so I really hope this works!!

Comments

  • ChelseaKChelseaK Administrator Posts: 262 admin

    @DCTiger Great questions! To answer them...

    1) Theoretically, you could deactivate your Payroll and start running it again when it's time to run and approve a payroll for direct deposit. You can deactivate and reactivate by heading to Settings > Payroll > Billing. This will just be a bit maintenance on your end (you'll have to make sure you deactivate before the payroll subscription renews, the first of every month).

    2) Here. what you can do is create bills in Wave for each contractor payment. You can then manually mark them as paid manually. For more information on 1099 Misc, check out this Help Centre Article: https://support.waveapps.com/hc/en-us/articles/360016196732--United-States-Paying-contractors-Everything-you-need-to-know-about-Form-1099-MISC

    3) For this, I would recommend that your reimburse your coach for an expense outside of direct deposit. Then you can log the expense transaction and follow this Help Centre article so you can properly account for the reimbursement: https://support.waveapps.com/hc/en-us/articles/115005928103-How-to-account-for-reimbursements

    4) There are different user permissions in Wave so you can choose the user permission that works best for you! For example, if you allow your bookkeeper to be an editor, they won't be able to access your Payroll feature (although you can add a separate Payroll manager for that). Check out the user permissions here: https://support.waveapps.com/hc/en-us/articles/115000077186-User-permissions

    5) Yes, when you add an employee or contractor to Wave, you can invite them to Wave so they can see their paystubs. To do this, head to Payroll > Employees > Add an Employee > click on the Employee and > Invite to Wave.

  • DCTigerDCTiger Member Posts: 2
    Thank you so much!
Sign In or Register to comment.