If you have not already done so, there are a few high priority items we need from you in order to close out your 2021 books and ensure their accuracy:
- Upload your 2021 merchant fee reports into the Documents section of Heard. If applicable, we ask that you upload any year-end reports received from payment processors so that our team may add any fee adjustments into your 2021 books. A merchant refers to any processor you use to collect income that charges a fee before depositing it into your account. (Examples include SimplePractice, Square, Stripe, etc). You may upload these reports in the Documents section under "Tax-related Forms" and tag them as "2021 Tax Documents". Please let us know when these have been uploaded if you have not yet done so.
- Please note: If you received a 1099-K form from your payment processor, you may provide this in place of uploading merchant fee reports. However, you will only receive a 1099-K if you processed over 200 transactions and over $20K through a payment processor in 2021.
- Upload any missing 2021 business bank account and credit card statements to Heard. Our team uses your bank statements in order to reconcile your Heard account and ensure that we have every transaction from your connected bank accounts correctly entered into Heard.
- Review any 2021 transactions that require clarification in Heard. Every so often, we may need additional information from you in order to categorize a transaction properly. Please navigate to the "Needs Review" tab on the transactions page in Heard, categorize or leave a "note" on what these outstanding transactions were for, and mark "Complete review" at the bottom of the page so that our team may categorize them.
- Review your 2021 books for any personal transactions that don’t belong in Heard. This helps us to ensure that we are accurately reporting your business income and expenses.