Go to Reports, and IRS 1099-K.
The IRS 1099-K report offers you a view of all the 1099-K forms generated for a given tax year for your merchants. Qualpay is required to report to the IRS all of the payment transactions processed for each merchant in the prior tax year. The amount reported to the IRS per Qualpay account is for gross sales, not including any adjustments or credits, cash equivalents, discount amount, fees, refunds, or any other amounts. Transaction amounts have to be reported to the IRS by the date of the transaction in a calendar month, not by the date settled or paid to the merchant. Search and select an individual record and view the monthly data displayed in the IRS form.
For more information on IRS reporting requirements, please refer to the IRS site.
Search by using the filter icon to select from the following options:
| Field | Description |
|---|---|
| DBA Name | The “Doing Business As” name listed on your Qualpay Account. Primarily viewable for consolidated accounts. |
| Legal Name | The state registered entity name the business is operating under. |
| Year | The tax year. |
| Merchant ID | The Merchant ID or MID is the account number assigned by Qualpay to the account. |
| Description | Description options are IRS Draft and IRS Current. In a given tax reporting period, Qualpay will publish a draft for review by the merchant and once published with the IRS, the description changes to IRS Current. |
| $ Sales | View accounts with yearly sales volume greater than, less than or equal to an indicated amount. |
IRS 1099-K report offers a view of the 1099-K form for each merchant.
