US Sales tax - 1099s: W9 submissions should create an actual document
So we send a W9 request and a vendor completes it, great. But this doesn't create a digital W9 form, it just modifies the information in the vendor's 1099 contact page. So if an auditor requests a copy of a vendor's W9, we have nothing to give them. And it's possible to override the changes made by the W9 submission, so there's no way to verify - say a year later - that the information on their contact page aligns with the W9 information they submitted. The lack of static documentation makes this feature almost useless for us as most of our clients are nonprofit orgs and require documentation for audit purposes.
Chris Dunn
shared this idea
Hi there
While we don’t create an exact replica of the form we’ve worked closely with our compliance team to make sure that if you are audited we can supply the information needed. We also cater for the event of W-9 information being overridden and needing W-9’s from previous years.
In terms of getting the information for an audit - while we don’t offer a self service option at the moment - if you need it you can submit a request to our support team and we’ll provide what you need for an audit 😊
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Chris Dunn
commented
Thank you for your response. It's good to know that it's possible to get the information for an audit, but until we're able to self-verify that the information for the contact matches the information on the W9 submitted by the contact, I don't see us adopting use of this feature for our clients.
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Donna Ott
commented
Having the ability to print or download the W-9 form entered via Xero link with signature for audits would be helpful in Xero. Especially since business are required to have a W-9 on file.