1099 does not equal revenue ......

[LCP]

..... due to a timing difference on a large check written on 12/31/07

How would you account for the difference on a 1065?

Show the 1099 in revenue and the dif where?

returns and allowances?
negative other income?
cost of goods w/ what description (note that its a service business so no other activity in costs area)?
other expenses with what description?

[veritas]

Is the one 1099

the only source of income for the year?

Does the IRS match to Form 1065? I don't know for sure but I doubt it.

[Anarchrist]

If all 1099s exceed sales, then I add the difference into sales and subtract it out in other expenses with a description that it's a timing difference. Returns and allowances sounds like a good option.

[LCP]

the only source of income for the year?

Does the IRS match to Form 1065? I don't know for sure but I doubt it.

You'd thing they would wouldn't you?