1099s - Receive Money transactions to populate in 1099 report
If you pay a vendor too much and they send you a refund for the overpayment that is recorded as a Receive Money transaction, then the amount to be reported on the 1099 should be the net (amount paid less the refund received), but since Receive Money transactions don't populate on the 1099 report, the amount is incorrect.
4
votes
Chris Dunn
shared this idea
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Judah Kosky
commented
1099 Report Needs to Include Refunds (Needs to include ALL transactions of those contacts in those accounts). Basically, we were relying on the 1099 report and checking the contacts transactions in the 1099 report, but failed to realize that Xero is not including refunds. And therefore the data we were relying upon was bad.