1099K Reconciliation Service

1099K Reconciliation Service

Regular price$199.00 USD

Need to verify that your bookkeeping numbers match your 1099K tax form? Or want to verify that your 1099K is accurate? I provide a limited number of reconciliations each tax season for Etsy, Shopify, Amazon, or PayPal 1099Ks.

This service entails:

  • Matching your 1099K document to source documents or reports within your payment platform 
  • Reconciling your 1099K to your bookkeeping system, and recording any differences & what they are due to (for example, sales tax, refunds, cancelled orders, etc.)
  • Compiling total gross sales (for tax purposes) based on the above documents (ideally to compare to your bookkeeping records)
  • Compiling and verifying any platform fees that are deductible against your 1099K revenue, for example:
    • Refunds/cancelled orders
    • Credit card processing fees
    • Etsy transaction fees (commission)
    • Etsy listing fees
    • Shipping expense/postage labels
    • Etsy promoted listing fees
    • Any other fees showing up on the Etsy Statement CSV

Final documentation will be provided to you in the form of a spreadsheet file with a summary tab. The summary tab will use formulas to reference all the relevant CSV files - this way you have proper documentation of how these numbers were calculated to assist you and your tax preparer. This documentation will also help you substantiate your tax amounts in case of an audit.

Customer will be expected to provide a list of specific documents and CSVs to me in a timely manner. Please note this service can take up to 2-3 weeks turnaround time.

Please note that I will not be liable in case of any reporting errors on the platform's behalf - ie, if the CSV files themselves that are provided by Etsy have errors. We are all working under the assumption that provided CSV files are fully accurate.