Start with vendor records
Keep an approved vendor list, payment history and supporting records together. Work with your CPA to confirm which documentation is needed and where it can be stored securely. Match ledger amounts to payment statements and resolve duplicate payees before the filing review.
Build a review list
Separate transactions by payment method and vendor, and note incomplete or inconsistent records. Assign an owner to each question and share a reconciled workpaper with the responsible filer. Review the IRS information return reporting guidance with your CPA before deciding what to report.
Explore the regional bookkeeping experience for related workflows and a consultation.