Accounting Technical Support
Discussion List
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Hi, I made a purchase on Amazon that categorizes as "Office Equipment", but there is a mistake made by either Amazon or my bank that duplicated the transaction. As we know, invalid transactions in a bank statement doesn't simply get erased, instead they issue a adjustment of opposite amount. My statement has 3 transactions: (a) the rea…
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When on Dashboard , net income , fiscal year ,, the income shown does not include HST, but the expenses do ,, they both have to be the same for accounting ,, how doe we change that. Also can you get an HST =/- report ?
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I have a Capital One card and can't connect directly. I imported the transactions into the credit card account. My payment came out of my bank with auto-pay. I categorized the payment as transfer to credit card. The payment shows up in my Capital One account but is there a way to connect the payment to all the expenses. There are 11 expenses I wa…
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please see attached PDF for details
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Hi all, Having a discussion with my accountant about how to adjust foreign currency exchange at end of fiscal year. The trial balance is correct but the reconciliation of the $US bank account is off by the exchange rate to $CAD. What is the proper way to acknowledge exchange fluctuation on invoices created and paid in $US but need to be reconci…
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Good Day! .. just wondering how to temporarily turn off an account for the purpose of ONLY reporting income EARNED .. so if I have CPP and OAP need those accounts to reconcile my bank account BUT in order to report INCOME EARNED I need to turn those accounts off temporarily ... can you help me?
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Dear Sir. We like to migrate our tally sytem in to Wave accounting package, would you please connection me any knowned Accountant about the explain the same
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Hi.. I have issue when I want to add income or expense, sometimes the total amount change to another value. For example, when I inserted RM78, it became RM77. The other time, when I inserted RM60, it became RM58. This issue start to occur around the last week. Hope you can resolve this. Thanks.
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Hi! I've incorrectly updated a bank account export in waves (deposit and withdrawals were reversed). After deleting all the transactions, I found that this account is now negative (-$5000), while not showing any transactions. I can't even delete the account and now this is messing my reports badly. Is there a way to fix this? Thanks!
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We have/had a sole proprietor business and have now transitioned to an Inc company. A customer incorrectly paid their Inc invoice to the old sole proprietor account by mistake. The owner at the time then transferred this amount from the sole proprietor account to the Inc account. I have matched up the transfer into the Inc account with the invoice…
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I've started a business, and I'm working part time. I spent 10 hours this week toward the business. 7 of those hours were directly toward making the Finished Goods, and the remaining 3 hours worked on improving the website. While I don't have the funds in the account to make a draw (pay myself), I think I should represent my time as a cost in W…
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Hello am having issues with my account receivable adding up, i think it is a technical issue.
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Dear Sir/Madam, Can you kindly advise on how do we record fines/penalties into waveaccounting? Many thanks in advance
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Hi, I have some issue with the account type under the transactions page. How can I add other account (e.g. account payable, account receivable) when I click "Add income" or "Add expense"? Thank you.
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I received a bill from a vendor that has a credit balance on it. I want to record the bill because we track different line items in it to different internal accounts when it gets paid (so I will have credits to the various accounts the refunds applied to). But the vendor did not issue us a refund, the credit is being applied to our next bill. S…
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I exported all the transactions and receipt images from one wave account. I want o know if can just use the same CSV file and import those transactions back into the second wave account and will import all the information? Also, is there a way to attach receipts to the transaction without having to go to the receipts?
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I have various income categories ("accounts" in the Income tab of my Chart of Accounts) for the different types of work that i do. It would be really useful to be able to see a simple chart of how my income breaks down according to those categories -- something like the Expenses Breakdown circle graph on the Dashboard. I don't see a way…
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How do I run a report on a product and service? One of my invoice lines is a Delivery/Installation Charge. It is tax exempt but I must report it. How do I find these easily?
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If I export receipts from Wave, the file-name has date and company. This is the only OCR software I have found that can do this and it's quite 99% accurate and very impressive. But it would be better if it could rename the receipt files as: [Date]_ [Amount]_ [Country-Code]_ [Card-Number]_[Company] For example: 2019-07-03_$99.99_usa_c1098_mcdon…
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Every transaction in my Linked paypal account has a corresponding txfer from my bank account. Can I link the two txns as effectively duplicates?
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Is there any other avenue to contact wave support besides these forums. Urgent assistance needed Thanks in advance.
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Hi. My gst tax calculations for Australia are not reconciling The general ledger report for sales expenses does not equal the sales tax report. General ledger sales income is $114174.14. On the report it shows sales subject to tax $108568.60 tax amt on sales $7938.93 this amt is NOT 10% of the sales. Do both gross figures include or excl…
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Hey there, I'm trying to figure out how to account for an investment from an angel investor in my transactions. It's not quite a shareholder loan, and I'm not sure if the Common Equity account makes sense here. If someone invested $100k into your business and it showed up in your bank account, how would you chronicle it? Bonus points on how to do…
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Hi there, I found an issue that could be a legal problem. I made a invoice to a customer. The customer paid it. Then the customers moves his premises and ask me to change the details for the future. When I do the change, the previously made invoices have the the address. It's illegal to change an invoice already issued. If the customer ask me a du…
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Hi I'm getting an error in saving a transaction detail. Why is it showing an uncategorized amount of 69.60 (double amount of 34.80). As you can see below total breakdown amount is already 1473.80. Tried saving one by one split transaction, but still getting the same error message.
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I have a question about how to appropriately assign an expense for an online service I use to conduct online psychometric assessments. I pay for the service on behalf on clients in the form of purchasing credits and include the cost in their fee. Should this be consider an outsourced service provider? cost of materials? or just general admin? T…
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Good Morning I have a client who is 1st year in business and I have just taken over their books. While doing BK cleanup, I noticed that they are depositing their W2 income into their business account (they have sense STOPPED). However, how do I get this excluded in WAVE as this should not be included in their company's income?
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Trying to record a journal entry in my Wave C$ account. I have a US$10,000 transfer from a US$ account to C$ account which shows as C$13,132.37. The exchange rate is known as these numbers are actually what happened but Wave is using a different exchange rate. How do I "fix" the exchange rate to 1.3132 so this journal works?
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I am new to Wave and accounting software in general. I need to go back and enter 2019 and 2020 info. I feel it may be best to wait and connect bank/cc accounts once I am caught up. Can someone direct me to "getting started" guides or video tutorials. Any help, feedback, etc would be very appreciated. Thank u
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I just started a very very small computer repair LLC where I am the only employee. I used my own money to purchase some software to use for my business (not for resell). Right now, I have this in transactions as: Account: Owner's Investment/Drawings Category: Owner's Equity Is this correct?
