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Expenses Overview
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| · | Vendor detailed information.
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| · | Access to detailed payment and purchase information.
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| · | Multiple addresses.
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| Checks written to individuals or companies that aren't incorporated must be reported to the IRS using the 1099 form if the total of all of the checks or cash given to the "vendor" exceeds the minimum required by the IRS.
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| · | In Vendor Entry there is an indicator whether or not the "vendor" should receive a 1099. The default is to include the vendor on a 1099.
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| · | In Expense Entry each line item can be marked whether or not to include on a 1099. The default action is to include the item on a 1099. This is regardless of the vendor's 1099 status.
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| Check with the IRS for the latest requirements.
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| Cash used to pay expenses should be recorded on the Expense Entry screen. A bank account should be setup in the
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| Bank Accounts program for "Cash on Hand" transactions. This will allow reconciliation of the cash on hand for proper accountability.
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