Qount launches AI-driven 1099 Workflow for accounting

Core Insights - Qount has launched an updated 1099 Workflow that utilizes AI to streamline the tax filing process for accounting firms [1][4] - The new system automates the entire 1099 cycle, enhancing efficiency from client onboarding to final filing [1][2] Features and Benefits - The updated workflow includes mass client enrollment, synchronization with QuickBooks Online, optical character recognition for W-9 forms, and AI-assisted mapping of chart of accounts [1][2] - It is designed to reduce the time needed to collect client and vendor data by up to 67% and speed up the cleanup, review, and filing stages by as much as 50% [2] - The system aims to balance staffing demands by redistributing workload to the final quarter of the year, thereby improving overall client satisfaction [2] Additional Information - The workflow provides a unified audit trail to assist in the review process [3] - The initial phase of the beta release is currently available, with a second phase for direct electronic filing expected in 2025 [3] - Qount, established in 2016 and headquartered in the US, offers an AI-driven platform that integrates various operations for accounting firms into a single system [4]