Difference between Year-end data entry and Quarterly data entry
Year-end data entry (Annual Returns)
Annual returns are entered once (usually at the end of the tax year), and printed when needed.
Quarterly data entry (Transactional Returns)
Transactional returns are entered on a transaction basis and yearly totals accumulate without quarterly closing. Yearli can handle Forms W-2, 1099-DIV, 1099-INT, 1099-R, and 1099-MISC as transactions. Yearli also prepares Forms 940, 941, 941 Schedule B, 941 Schedule D, 941-X, 943, 944, 944-X, 945, and state quarterly forms.