Accounting Technical Support
Discussion List
-
I am new to Wave - I think I get how to do transfers for credit card payments, although I am confused by consistently seeing two identical-looking transactions to match with the transfer. But when I try to do a split transaction in the transfer I get 2 and 3 listings of the transfer in accounting. What do I do with the two matches offered in trans…
-
I have set up separate business and personal accounts in Wave. I am now seeing many personal transactions duplicated in my business transactions. I have added both business and personal bank accounts to both accounts in the Chart of Accounts so I could correctly assign transfers between the accounts. What have I done wrong? Do I need to delete the…
-
Hope someone can help as this is stopping us from using Wave. We need to be able to with hold 2-3% tax after adding a 7% VAT to an amount, is this possible in Wave?
-
Hi, I'm trying to figure out how to print individual expense account reports that do not include a 'Starting Balance' When I look at the overview of all account balances, there is no data in the Starting Balance column for any of my expenses. When I click on the individual account to see the transaction detail, there is a starting balance. I ass…
-
The notes part of the transaction details is missing in the Beta. No you cannot access the notes entered from the past. This is a big disappointment for an upgrade. An improvement would be to allow the search to use the notes field, as well as keeping it intact.
-
Hi there, Quick question regarding expenses paid out of pocket. The only expenses incurred by our business in 2020 were paid out of pocket. I listed all of these expenses in the owner investment/drawing account type. When I run our balance sheet to prepare our taxes I noticed theses expenses show under equity. Is this correct? or should these exp…
-
So the transfers between my two accounts are "synced", but the expenses are not. I made one personal expense at Sam's by accident on my business card, and I paid for a bunch of business expenses with my personal card. I guess what I want is for the owners draw/investment on my personal account to be added to the report on my business a…
-
Say I sold a property for cash for 10k, with 1k of that paying for closing costs for an income of 9k. What is the best way to log this transaction? Currently I'm adding 2 transactions, one "Sales" deposit transaction for the 10k income, and one custom "Title Fees" withdrawal for the 1k expense. I'm not a huge fan of this as it'…
-
Hi! If I have expenses, such as personally paying for the LLC creation service for an LLC. How do I properly enter these expenses in Wave to properly identify for tax reasons? One member has made the initial capital investments and the other is "sweat equity". Right now I have it as "Owner Investment" but there are two member…
-
Hi, I am doing data Migration from to wave for 2008 to 2019. While Migration data of Year 2016, there is difference of 5$ appearing between profit of accrual and cash basis report. On further Investigation the difference is coming from Bank service charges account which are $1150.39 on cash basis and $1155.39 on accrual basis. but when i open the …
-
A client underpaid one invoice, but then he paid extra on next invoice The amount he paid extra not only covers the balance from first invoice, but also it covers a pre-payment for his next order. How to transfer the extra amount from second invoice to first, and remove the PAST DUE mark from the first one? Where/What category to enter the extra a…
-
My purchases entered in to Accounts Transactions with GST/Sales Tax that is sales tax on purchases are not showing in Sales Tax Report. Please advise any way to rectify. Refer to screenshot below. .
-
Hello, I have multiple banks with multiple sub-accounts. I'm wondering if there's a way (or would like to request a way) to sort accounts for the purposes of the transactions filter dropdown?? Short list: * savings * secondary savings * checking * 12x savings accounts (one for each month Right now the list is kinda all over the place. Like Ap…
-
I use Wave for my business and personal accounting. We tried to add my wife's business and personal accounting too. Unfortunately, the setup defaulted to making her personal account a business account, so the COA is completely wrong for tracking for EOY taxes. How do we fix or change this? The system only lets me create a new business, not a n…
-
Hi, it's my first day with on Wave and I notice that I wasn't able to upload a receipt as I record by bill payment. I had to upload it on the receipt section but my total loss increased twice, once each for the bill payment and the receipt which I believe to have been recognized as a separate transaction. How can I avoid this from happening? I n…
-
I recently created a new bill in Wave, and when I attempted to register the payment, I got this error: "Error modifying €###.## payment". Although it eventually does record the payment to the bill upon refresh, it does not post the payment to Transactions. I have already deleted the payment/bill and recreated both, but I get the same err…
-
Can I enter the amount charged by the vendor for sales tax, rather than having to enter a tax rate? The problem is that I do not know the vendor's tax rate and I tried to figure out what it is but is seems that they charged different rates on different invoices. I don't really care how much sales tax was charged. I just want to enter the bills int…
-
Hello, I recently created a sales tax, and I added it to my invoice. However, it is dramatically under calculating the amount of tax that I need to collect. I didn't notice it on the first 2 invoices, and it cost me several thousand dollars of uncollected sales tax that I had to pay out of my own pocket. I have 2 items: Item 1 - $4,300.00 Item…
-
Is there a way to include the transaction Notes field in reports? I have not found any report whose detail includes Notes. Further, the transaction search does not include Notes. Is there an option for this?
-
Recently purchased new printer for my business, which is under a 5 Year lease, how do we record with wave, payments , value etc
-
Good Day, I've tried to update some of the receipt to wave from web, tried to refresh and relogin wave account but still experiencing the same issue since the past hour. Is it the feature is currently down for maintenance? You may refer to the screenshot below for more information of the error. There's no error code provided. Thank you.
-
I'm new to the Wave world. I've just put in all my receipts for the expenses for my small business. I can't seem to find a category for my supplies to make my product. I've put them in office supplies but it's not right to me. The other option I can see is uncategorized expense... Can anyone give me some insight please? Thanks!
-
I am opening a new, rental property business in Wave. I now have dedicated checking and credit card accounts that I will be using exclusively for the rental business. I have linked the new bank accounts to Wave. I have previous transactions from a personal bank account that I would like track in the rental business to have a full reckoning of my…
-
It would be awesome if when categorizing a split deposit, the next space down would automatically calculate the difference. For instance from paypal downloads, when I put in what the customer paid and then the difference is the fee that I have to manually calculate or go to paypal to find. Or breaking out deposits from several places that were mad…
-
I began to purchase supplies and materials for my business about 6 weeks ago with my personal funds, but I finally got a business checking account and credit card yesterday. I want to be able to write off these expenses on my taxes so I've started to upload the receipts. I'm wondering how to record these transactions so that everything balances ou…
-
I am setting up my Chart of Accounts and would like to know how to account for withdrawing money from the bank account for personal use. I understand this would be an owner's draw. In the second option under the Equity Tab, Retained Earnings: Profit, in the dropdown, is the Account Type, Retained Earnings: Profit, or Business Owner Contribution an…
-
I have 2 separate accounts within Wave. When I run year end P&L reports, some income items from Account 1 (Compass) are reflected in Account 2 (Mann). When I drill into the details, all transactions are correctly categorized and reflect the proper account. * I've reviewed all transactions * I've reconciled all accounts * I've confirmed that…
-
wanting to find the fastest entry of past transactions
-
Hi, I am trying and trying and trying to upload my bank statements in CSV format and they are simply not going through. Every time I try I get different errors, the whole bunch! I have seen the available advise on this from the error message link but I am following all the steps to the letter and still unable to upload. Can someone please help me…
