I downloaded a report of all account transactions for 2022, and sorted the transactions to try to discern what income my business received, but that net number differs from that reported on the 1099-K.
Can someone please tell me which categories on the annual report are included in the 1099 box 1a "Gross amount of payment card/third party network transactions"?
The categories in the report are:
Account Hold for Open Authorization Bank Deposit to PP Account Direct Credit Card Payment Express Checkout Payment General Authorization General Card Deposit General Payment General Withdrawal Invoice Received Invoice Sent Mass Pay Payment Order Payment Refund PreApproved Payment Bill User Payment Reversal of General Account Hold Virtual Terminal Payment Website Payment
If I net those indicated by color - which, with the exception of the payment refund, fees were attached - there is a significant difference with the 1099-K.