Question:

"Is there any way to run an "aging" report for inventory in the POS?  I know you can see it by looking at each individual item but it would be much more helpful if I could run a report and then pull all those items that are over 120 days old and throw them into an inventory reduction sale."

Answer:

"You have a couple of options.  There is a best and worst sellers report that might give you want you need.  Also try the inventory turns report.  Those reports should give you an idea of inventory aging."

Here is a link to an article from the Los Angeles Times. Apparently, Citibank has decided that frequent flier miles earned on credit cards are taxable income. They calculated the income to be 2.5 cents per miles and sent out 1099s to anyone who crossed over the $600.00 annual threshold. Will you credit card follow suit?

Chick HERE to read the article.

Now is the time to review the 1099 requirements to see if you are reporting all subject payments.  In general, 1099s are due to independent contractors who perform services and for rent expense.  Attached is the 1099 instrustions.  Take a minute to make sure that you are reporting all the required payments.  Please note this year, that payments made via credit card and debit card will be reported by the merchant.