Wave + 1099 Reporting: Complete Workflow
Preparing for 1099 reporting and using Wave? Businesses issuing 1099s need to verify contractor payments against bank statements. Manually cross-referencing PDFs with payment records is time-consuming and error-prone. BankScan AI bridges the gap between your bank's PDF statements and Wave's import feature.
BankScan AI → Wave for 1099 Reporting
Convert bank statement PDFs to CSV formatted for Wave import. Convert bank statements to Excel to quickly filter and identify all contractor payments, verify 1099 amounts, and ensure IRS compliance before January filing deadlines.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload Full calendar year (January 1 to December 31), as 1099-NEC and 1099-MISC are reported on a calendar year basis of statements.
AI formats for Wave
Output as CSV with Date, Description, Amount — Wave supports both single amount column and separate Income/Expense columns — dates in YYYY-MM-DD or MM/DD/YYYY.
Import and use for 1099 reporting
Upload into Wave and use the reconciled data for 1099 reporting.
Supported Banks
BankScan AI works with all major UK and US banks, including:
Wave + 1099 Reporting Features
- Wave ready — Output formatted as CSV matching Wave's expected column structure
- Smart integration — Wave's invoicing is tightly coupled with bank imports — when you import a bank deposit, Wave suggests matching it to outstanding invoices automatically.
- Built for 1099 Reporting — Convert bank statements to Excel to quickly filter and identify all contractor payments, verify 1099 amounts, and ensure IRS compliance before January filing deadlines.
Import for 1099 Reporting into Wave
After converting your bank statements for 1099 reporting:
- In Wave, go to Banking > Connected Accounts > Upload a bank statement (CSV)
- Select the file, map columns to Date, Description, and Amount, then import
Common Import Issues
Wave's free tier has occasional processing delays on large files. Also, Wave uses MM/DD/YYYY by default which conflicts with UK DD/MM/YYYY — select the correct format during import.
Wave Import for 1099 Reporting
1099-NEC due to contractors and IRS by January 31; late filing penalties range from $60 to $310 per form depending on how late, up to $630 for intentional disregard
Convert for Wave + 1099 Reporting