Wise Statements for 1099 Reporting
Preparing Wise bank statements for 1099 reporting? Businesses issuing 1099s need to verify contractor payments against bank statements. Manually cross-referencing PDFs with payment records is time-consuming and error-prone.
Convert Wise Statements Instantly
BankScan AI converts your Wise statement PDF to a clean Excel spreadsheet in seconds — handling DD-MM-YYYY and multi-currency layout with separate transaction lists per currency, each showing Amount, Fee, Exchange Rate, and Balance automatically. Convert bank statements to Excel to quickly filter and identify all contractor payments, verify 1099 amounts, and ensure IRS compliance before January filing deadlines.
About Wise Statement Format
Wise multi-currency statements include transactions in multiple currencies with exchange rates. BankScan AI preserves currency codes, rates, and fee breakdowns.
Getting Your Wise Statement for 1099 Reporting
In Wise, go to your account, click 'Statements', select the currency and date range, then choose PDF or CSV format. Each currency balance generates its own statement, so multi-currency users need to download statements per currency. Download Full calendar year (January 1 to December 31), as 1099-NEC and 1099-MISC are reported on a calendar year basis of statements.
How It Works
Upload your Wise statement
Drop your Wise (formerly TransferWise) statement PDF. Supports PDF, CSV. Need Full calendar year (January 1 to December 31), as 1099-NEC and 1099-MISC are reported on a calendar year basis? Upload them all.
AI extracts every transaction
Our AI handles Wise's DD-MM-YYYY and multi-currency layout with separate transaction lists per currency, each showing Amount, Fee, Exchange Rate, and Balance — extracting Payments to each contractor by name and TIN, total annual am.
Use for 1099 reporting
Download formatted Excel ready for 1099 reporting. Payments grouped by contractor/payee with annual totals, cross-referenced against W-9 information on file; separate identification of credit card payments (reported by payment processor, not payer)
Wise + 1099 Reporting Features
- Wise optimised — Handles DD-MM-YYYY dates and multi-currency layout with separate transaction lists per currency, each showing Amount, Fee, Exchange Rate, and Balance
- 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.
- Period coverage — Convert Full calendar year (January 1 to December 31), as 1099-NEC and 1099-MISC are reported on a calendar year basis of Wise statements in minutes
Convert Wise for 1099 Reporting — Fast
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 Wise Statement Free