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Categories Funds
Created by James Reese
Created on Apr 21, 2022

FUNDS: Include a Payment Type on Funds Transactions - IRS Issues - R-02638

Being able to sort Trust payments by Payment Type would make a huge difference - obviously for deposit reports. The IRS requires a Form 8300 for Cash transactions greater than $10,000 for related matters. This includes multiple payments that add up to $10,000. Being able to run a report that only includes cash and total it would help close vulnerability in the Trust Account.

https://www.irs.gov/businesses/small-businesses-self-employed/irs-form-8300-reference-guide