Financial Reporting

Financial reporting provides insights into transactions, fees, and tax details to support accurate financial tracking and compliance.

Statements

Merchants get monthly statements that detail their transactions and fees. Statements are available during the first week of each month. Merchants can use these statements to reconcile accounts.

Merchants also get an annual activity summary and a taxpayer activity summary to support tax reporting. These summaries provide a detailed breakdown of financial activities for the year.

Tax Forms

Billing data is converted into tax documents, including 1099-K tax forms, which are sent to both the IRS and merchants.

• IRS Submission: The 1099-K form is filed with the IRS to verify reported income.

• Merchant Copies: A PDF copy is sent to merchants for their records.

• Submission Deadline: The IRS submission deadline is January 31 each year.

• Federal Reporting: By March 31, a digital version is uploaded to the IRS system for federal reporting.

For more details, see Understanding Your Form 1099-K

Viewing Information

Detailed billing, funding (payout), and tax information is available through:

• PDF reports

• Merchant Portal

• API (Coming soon!)

For more information, see:

• Understanding Your Monthly Statement