"using the 1099s as a better method than the bank deposits"

That's only true if every relationship is a business-to-business and if everyone 1099's the S Corp, which as we know, except for certain business service types, you are not required to issue 1099-NEC to S Corps, and it also assumes the total paid would hit the reporting limit of $600 or more. Let's not forget that there is no need to issue a 1099-NEC when paying through a settlement agent (such as, by credit card), as well.