While taxes may not always be the funnest of things, we've laid out what to expect if you're rocking out Schedulicity's built-in payment processor. 😎
When will I receive my 1099-K?
Each January, our payment partner—Clearent—will mail out your 1099-K. You should receive it by the end of the month. There are no tax forms from Schedulicity. Clearent will report on all credit card transaction that you ran through your Schedulicity account for the tax year. It's good to keep in mind that any cash transactions won't be reported on your 1099 but you can access those in your Transaction Report or Sales Summary in your Schedulicity account! Your 1099-K will also be posted to Compass (which is Clearent's reporting system), as well all your statements from the previous year. If you'd like Compass access to view these documents, be sure to reach out to Schedulicity's Rockstars to get that going for ya!
How do I find Schedulicity sales reports?
The Sales Summary Report is a super handy breakdown of gross sales, net sales, discounts, fees, refunds, taxes, gratuity—all neatly organized for your records. 📊 With the ability to filter by provider as well as date range, this report is here to help you keep tabs on business trends, giving you all the ins and outs of your sales. You also have the option of view the Transaction Report to track and manage all the payments you’ve collected through your Schedulicity account. The exported version even has a call out specifically for gratuity, so you can see how much you’ve made in tips for the month.
How about product sales?
With our Product Management report, you're able to keep track taxes, net sales and profit within a certain time range that you set up (up to a year):
For more of a deep-dive into Schedulicity's built-in processor 1099K, or for a handy breakdown on how to read your 1099K, check out Clearent's complete article here.