Here’s a quick tutorial for everyone that will be looking to pull their inventory and finance reports out of Sonlet to provide to their accountants during tax season… Before I jump in, here are a few quick dates to keep in mind for filing your taxes this year (2017):
- January 31 – Employers are required to deliver form 1099 to contractors
- March 15 – LLC’s filing taxes as a Partnership or S-Corporation are required to file tax returns
- April 17 – Individuals and Corporations are required to file tax returns
If you have any questions about taxes specifically, make sure that you chat with your accountant or check out the blog post written by Jake Bassett, a CPA from JB Accounting & Tax.
First, Sonlet provides inventory on hand reports based on your inventory listed in Sonlet. Just head over to the Dashboard and click on Finances. Scroll down to the Inventory section, and click on the 2017 report. Click on the report and you can double check that everything looks accurate. If all is well, just click print to send a printer-friendly version of the report to your printer that you can hand to your accountant. Or, save the report as a PDF to be mindful of the environment.
If anything is missing from the report, just double check the purchase date of the item on your inventory page and make sure it has a 2017 date. If the item is currently listed, you’ll just need to cancel the listing temporarily to move it to inventory so you can adjust the purchased date. Once you make the date change, then you’ll see the item reflected in your inventory report.
If you need to add expenses and don’t forget you can do that with the business expenses tool. There’s a link right on the dashboard for that as well.