Accounting Technical Support
Discussion List
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Wave account and Wave payments reconciliation 1. My wave account show account shows a difference of $-338.50. Again, I don’t know were that difference come from. Please can you help me figure were and from the difference come? * This issue brings me to wave payments. I have searched every were and can found how to reconcile wave payments. Th…
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Good Day I need help please as I am very new with accounting. We receive payments via our Yoco card machine. Yoco takes a fee on each transaction. Example: Customer was invoiced for R1205 Yoco fee on this is R40.87 balance paid to our account is R 1164.13. I recorded the payment for R1164.13 now I have to journal the R40.87 to balance my invoice,…
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Hi, my previsouly connected BankOfAmerica account, is now showing not connected and it prompts me to reconnect. When I try to "reconnect", it says my username is wrong. I am able to log into bank website, using same username and pwd, but Wave is not able to reconnect. I tried to raise ticket with wave twice but got same response about sy…
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Hello! Several months ago, Bank of America suddenly closed our bank account without stating a reason. We were told to receive a check over the account balance, but it hasn't arrived yet. When it comes to Wave, I now have the following problem: 1. Although the bank account is closed, Wave still shows its ending balance. 2. I haven't received the …
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I am new to Wave and am finally getting a handle on reconciling. Every time I make a purchase, I use the Receipts App to capture the receipt. When I go in to reconcile, I see duplicate purchases: My receipt entry and then the bank statement entry which is always a couple of days later. It looks like a double purchase. Is there a way to merge t…
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I will be making a withdrawl from the checkings account for the profits of 2020 next year around March. How do I categorize that amount since the transaction will be done in 2021?
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I have a question on how you reconcile the Bank & Credit card transactions if I setup 3 businesses for my 3 rentals? As suggested in this thread, I will setup each rental as a separate business in Wave. https://community.waveapps.com/discussion/comment/18186#Comment_18186 * Say I have setup 3 separate new businesses for my 3 rental properties…
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Wave miscategorizes one transaction in particular (working with developers on UpWork, specifically) as "Meals & Entertainment". No matter how many times I change/update these transactions, they keep getting imported and the wrong category is applied automatically. Any way to fix this? Thanks!
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Hi, Say I have a payment I missed in November ($100) and spent ($25) in December, making December's statement ($125). When I pay the balance, it automatically transfers to/from the $125 for December. How do I express November's paid as well? Categorizing November with transfer to/from automatically makes "Created Transfer".
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I purchased a piece of equipment using both Cash On Hand and the Business Debit Card. In trying to reconcile, the receipt for full price does not match the bank statement which only shows what was placed on the debit card. What is the best way to reconcile? Thanks!
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I have a rental property. Occasionally I have some expenses for that property (Home Depot, etc) and I want to be able to move those to a category for my rental property while keeping other expenses in the same bank account categorized as either personal or for a different rental property. What is the best way have some transactions categorized …
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I just migrated myself from Quickbooks Pro desktop(Windows) to Wave. I'm getting used to the new setup and have a question about work flow. In Quickbooks, when a customer paid me(in person), I would open their invoice, click on "receive payment", then enter the payment. At this point, the (check) payment would go into a Quickbooks acc…
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I have payments set up and all imports from my bank account as it should. However, every single time I create the transfer to get the money from the holding account to my checking account, it creates two transfers, and I have to delete one. I mean every. single. time. What's going on?
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Example when sorting Sept transactions, when i use the drop down transactions and pick sorting by "credit card" ** its BLANK or it shows 1 transaction but when I look at **all sept transactions i can see 40 set at "credit card" . It weird because it ONLY seem to be happening on the 2019 transactions, for 2020 they query corre…
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When an account doesn't auto reconcile and brings me to the screen to manually check lines, I adjust the checkmarks so that everything should now match, but the wave balance at the top never updates as I make the changes, so it's not recognizing that the reconciliation is complete. How do I get Wave to acknowledge the changes?
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Transactions were not added to the transaction report so the balance is incorrect but the balance on the connected accounts tab is showing the proper balance. Is this only a matter of time or something is wrong?
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I realize that "currently in Wave you can't merge a transaction that does not have the same amount and account with another transaction. When you are working with large deposits that cover a few invoices, you would want to wait for the bank imported transaction to arrive in Wave and categorize that as 'Payment received for an invoice'. Then, …
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I get a dozen or so bank card deposits every day. Description begins "5/3 BACNKCARD SYS...". I'd like to have these automatically assigned to the Income category I created named "WorldPay Merchant Account". Currently I have to check the boxes and manually edit the category. Thanks in advance.
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I do my business expenses on my personal cards , during the year i zelle some money out of my bsns bank account to pay those bills , i account that withdrawal transaction ad accounts payable . Is this the correct way
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Hi, I've added a business checking account to my assets account and whenever money is withdrawn, it's defaulted as a deposit, vice versa. This only started happening after I added a new business checking account. Can someone fix this?
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Hi all. I'm an Australian user who had to bill a client in Euros. They paid the invoice, though the real world exchange rate was wildly different from the 'official' one Wave put on my invoice. I now have a discrepancy on my invoice. I tried adding a negative line item for the discrepancy (-$409.60) on the invoice under 'currency exchange fees' b…
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Duplicate post, pls delete, thanks!
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I could use some guidance on what my SOP should be for entering AR transactions. I am not using Wave's invoicing or payment features, that is all handled elsewhere. What I expected to do was to go to Accounting>Transactions>Add Income, select the Accounts Receivable as the account (since it is an asset account), and select Job Income as th…
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Hi there, I reviewed my PL summary view for each expense account. I see some accounts have starting balance of $0. Some of them have an amount for starting balance. Did I do that? I want the starting balance to be $0. Could you tell me how to fix? Thanks much.
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Hi, My wife purchased N95 masks in bulk. She made the purchase on her company credit card. I categorized the purchase as a uniform expense. As I was reconciling, I noticed there was a credit from a Zelle transaction a few days later and my wife told me half of the purchased masks were given to another colleague who then reimbursed the company fo…
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I run my business as a sole proprietor and pay a handful bills from my personal accounts on behalf of the business. I don't understand if I should be recording these as "owner investment" or as income in the "owner equity" account. * Is there a difference between these two accounts? * Does the account "owner investment&qu…
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I am new to wave. What Vendor's invoice should be considered, bills or receipt?
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Hello, I am new to Wave so I have just synced my bank and credit card transactions. It asks you to select a category for each transaction but then auto suggests all transactions that would likely be part of the same category. For example I only needed to categorize one Gas transaction and it guessed the rest. However for some, in particular sale…
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Hi, I have a problem with the Cash on hand account. it is showing a negative balance even though there are not any transactions associated with the account. It should show a zero balance. How can I fix this? thanks
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I accidentally connected my personal AMEX account to my business. All the personal charges posted. I turned off the connection but the charges are numerous and persistent. How can they be removed easily, not one by one?
