Start with the underlying activity
Save your sales export, payment report, refunds, and related bank activity. A Form 1099-K reports gross payments and may differ from the amount deposited after fees and other adjustments.
Connect the records
For each batch, keep a payout identifier or a dated note connecting sales, fees, refunds, and the deposit. Mark transfers and duplicated records for review so the same money is not treated as a second sale.
Keep errors visible
If a form appears incorrect, preserve the form and the records that explain the discrepancy. Follow the IRS guidance for contacting the issuer and reviewing the correction process. Do not change the original document.
References and scope
This guide provides general recordkeeping education. It does not determine your tax treatment, permits, or filing obligations. Rene is completing his accounting degree and is working toward the Enrolled Agent credential; he is not currently an Enrolled Agent.