There are some big new 1099k changes coming for reporting to be done in January 2023. There has been a lot of controversy around the 1099 k requirements new in 2022, so AP Now thought we’d address the basics. We’ll explain what the 1099k is and who will have to issue the 1099ks. Stick around until the end when we address the big question on everyone’s mind: Will Accounts Payable have to issue 1099-Ks this year? #1099k #accountspayable #accounting

The 1099k reporting requirements 2022 for 1099k that will be completed in early 2023 have changed. The big threshold change as well as the expansion of the program will leave many scratching their heads. This will also happen in late January and early February when the 1099ks show up in recipients mailboxes.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For many organizations, the review of expense reports and the requests for reimbursement of expenses, is handled in accounts payable. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Link to The Perfect 1099https://youtu.be/KcqYrRVBqgs

Link to AP Now’s Invoice Serieshttps://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh

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Host: Mary Schaeffer (www.ap-now.com)