Accounting Technical Support
Discussion List
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Does this work retroactively? Or only for transactions after I categorize? Is there a way to apply the category to all similar transactions?
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I am just transitioning from Quickbooks to Wave eff. 1/1/21 and I need to book my opening inventory. Where/how do I do this?
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I have a Wave Personal Account. I linked my bank account to. I also have our farm account I added onto it and my craft account. Is there a way to get certain transactions to ONLY show up on the farm account or the Craft account now everything all together??? Like my Groceries for my personal use account doesn't need to be counted as expense in …
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Hello- Sorry, I'm sure this question is very basic... I just am horrible at understanding accounting. So, when I run Payroll thru Wave, it automatically creates a Journal transaction. But, now what do I do with the Check I write my employee - when I import transactions, that's effectively doubling the payroll from a reporting point of view. What…
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I have recently switched to a new business checking account that earns interest. I am not really sure how to categorize it in Wave. None of the categories seem to fit.
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I notice, there is a ghost transaction in Account Receivable on the Sept-30 entry. There is an entry of 357.59 that I can't find in account transaction. Attached Account Balance screenshot _Attached Account Transaction screenshot _ Please advise on how I can get this bug fixed. Thank you
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I'm not sure how to record accrued taxes. I have a checking account and a savings account. When I receive a check, I deposit it into the checking account, calculate the taxes owed and then transfer the tax amount into the savings account. I created a Taxes Due liability account in Wave. When I transfer the money from checking to savings, the c…
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I created a journal entry that is wrong how to I reverse the entry?
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I'm bummed that Wave will no longer be integrated with PayPal. It's not a huge source of transactions, but it means more work for us. Does anyone know how I can manually enter PayPal transactions or can I upload a CSV? Thanks
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Sales tax collected is a liability. Remitting this sales tax decreases the liability. If you remit more than required or pay a sales tax security deposit (required in Canada) your liability account is negative. A negative liability account however looks incorrect on balance sheet. Are there "negative" liability accounts?
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Based on the 1099 Instructions, an LLC treated as an S-Corp does not receive 1099's. One of my subcontractors returned their W-9 as LLC with "S" Classification, and stated "As we are an LLC, (not incorporated) you should be sending us a 1099." They're a larger professional company with an accounting department, but are they cor…
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I am new to Wave and starting a business to sell items locally that I source from pallet liquidators. Can someone point me to a template or model for setting up my wave accounting?
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i use space coast credit union for banking, i have not been able to connect at all, you use plaid and i have and use this service with other things and it works fine no issue, i have tried to manually upload statements and they donot fit the paramaters of your upload forms i am lost and totally frustrated, i have tried every way i can think , …
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How to identify duplicate transactions? Or Where are the duplicate transactions flagged?
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I'm having trouble reconciling my December checking account statement with my Wave account. There were many checks written/recorded in Wave in December that were not cashed until January and as such do not appear on my December statement. Wave is asking me to reconcile between the account ending balance in my bank statement and the ending balanc…
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Hey all! This seems like a really silly question but I've spent an hour trying to find the answer... When I'm in the Transactions section, is there a way to sort by dollar amount??? and Is there a way to search by dollar amount? Thanks! Bryce
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I just want to see if I can get my brain around this so please bear with me as I am no expert. We have a line of credit that we work out of and in Waves, it was originally set up incorrectly as an asset account. So, I created a new liability account for the LOC and moved the transactions I needed into this new account as of the first of the year.…
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I don't see any way to generate 1099-NEC and 1096 forms without having WAVE payroll. I do not use payroll in my sole proprietorship and I do not want to pay for payroll just to print two tax forms. Does anyone know of a way to do this from WAVE or a place to find the software to simply enter the data and print a copy of the form on form paper?
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Home currency is USD. I Have a CAD and USD bank. I transferred funds from my CAD to USD bank (CAD gained strength) and now my CAD bank shows negative (for USD) (its not). I have an entry in my P&L for "Loss on Foreign Exchange" but my CAD bank is still negative in the balance sheet. How do I fix this? Update: The FX exchange loss …
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Is there a way to only download credit card transactions that are NEWER than Dec, Y2020, or disable the old transactions before Dec, Y2020?
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Does anybody know if Wave will sign a business associate agreement for HIPAA with healthcare companies?
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Total accounting rookie here. My bank only offers statements online for 2 years and my accounts and transactions prior to 2019 are an absolute mess with many missing for some reason. Account balances are off by thousands. Is there anything I can do to reconcile everything before Dec 31, 2018 and zero out my balances so my recent info is correct?
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I've been using Wave for a long time. Over the years they have made changes to the system that had royally screwed up my accounting. So I created a "new company" in Wave for 2020 - a clean slate with my accounting. Everything had been going great until Wave dumped a bunch of 2019 and earlier transactions into my "new company". …
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I have been trying to manually import transactions from the bank today but it's not importing the correct batch. It is duplicating from November and it's not letting me upload transactions from December 2020 and January 2021.
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I am unable to add my Northern Trust checking account. Wave recognizes my Northern Trust credentials and credit card, but not my checking account. How do I get this account added?
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I have notice that my bank balance out by an starting amount, -$160.50 and it seems that only one side entry as the balance sheet did not shown the other amounts. No way to make adjustment.
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Every year I setup a new account so I can easily see what's being made. This year I did the same thing but with the new version I cant figure out how to redirect the bank to the new one without getting rid of the old one. What can I do?
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Hi, I'm trying to work out if there is an easier way to split the costs which are part personal and part business. At the moment the transaction is on my personal account but is part business, e.g. my car lease payment which is currently 50% business, so I add the Owner investment/drawings portion on the personal transaction and do a journal entr…
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I received a grant from the State of Kansas (USA). It is taxable so I coded it as revenue. My question has to do with tying all of associated business expenses covered by the grant together. (For example: 500.00 Coded to Vehicle Expense, 200.00 Coded to Web Expense, and 100.00 Coded to Office Supplies Expense) I want a way to tie them all back…
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Hello, Wave community! I currently run a small retail business and had some concerns about tracking my purchases for the stock I purchase to resell on Wave. I am fairly new to accounting so kindly bear with me. For my business, we purchase our items for a set price and then make adjustments to them to fit our business. For example, we include th…
