About Project BizVal

Business Validation is a screening process workflow to validate whether a contractor meets United States tax legislation requirements (added as a W2 Payroll worker or as a 1099). The workflow is part of the project request type, and can be accessed specifically for contractors flagged in the system, or triggered for any project request where a client organization requires review of suppliers/vendors that are bidding on a project.

The workflow gathers business information and project scope to determine the overall structure in terms of roles and relationships between the businesses, allowing a client organization to avoid legal risk and penalties. The Contractor Compliance Service team (CCS) gathers the information and advises on next steps. All assessments are recorded in the application.

This service is provided to Magnit-affiliated MSP organizations and their clients, and is not available to vendor only (VO), non-affiliated MSP organizations. For more information about CCS, contact your Program Representative.

This workflow is only available for client organizations that have the following:
  • Project requests/engagements enabled. See Client Settings.
  • The workflow is enabled and a recipient email address is added to the Project settings (minimum settings). See Modify the Bizval Settings.
  • If you wish to allow for client managers to enter workflow information during request creation (MQs), enable the setting at the client organization level. See Client Settings.
    Note: This setting is enabled by default.
  • If you are overriding the central list (optional), country level questionnaires and document requirements must be configured. See Modify the Bizval Settings.
  • Contractors have the Supplier Requires Business Validation check box selected on their profile. See Supplier General Information.
    Note: If a client organization requests a contractor for a project that is not in the system, when you create their profile, enable this setting. They are not able to be considered for the workflow unless their profile has this flag.

The validation workflow involves a collection and review of project and contractor information before the project begins. The questionnaire and supporting documentation that are submitted are reviewed before any quote is accepted for a project.

Questions include the following:
  • What type of business entity the contractor/1099 is
  • Gross annual business income
  • Client list for the contractor
  • Number of employees for the contractor