Accounting Technical Support
Discussion List
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Hi, I merged a bill payment from my bank imports with a transaction for a scanned receipt, but in the merged view I do not see a link to the receipt. How do I see the linked receipt now? the source transaction popup does not show them.
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I recently opened a business checking account and linked to it on Wave as an asset account. When I link a payment to its corresponding invoice (made via Wave), I get this option: Refund sent for an invoice in Wave I was expecting: Payment received for an invoice in Wave. What's wrong?
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Hi there, I deleted an account (and don't have the option to unarchive it) It looks like this account contained transactions, which I can no longer access or view, but are affecting the trial balance. How can I resolve this issue?
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Hi guys, I have some subscription payments I make like website hosting and tools where I pay yearly in lump sum but I don't want the expense to show as the large amount being spent in a single month. Here's what I am trying to achieve * I make a payment of $120 for website hosting in September which is a yearly payment * I would like it recorded…
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Hi Wave, I formed a single member LLC, filing as S-Corp recently. Prior to that I was a sole proprietor. My client paid my personal account instead of my LLC business checking account. How do I bookkeep this?
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Hello Community, I have been using Wave for my accounting needs since the beginning of a year and I have all transactions there. But I have a situation where I want to make an identical copy of the business into a new business with a different name - and keep both businesses. So I want to copy the chart of accounts, ledgers, transactions, basical…
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When I categorise an investment as owner investment/drawing, which was deposited via bank transfer into the business account, the balance sheet shows the money introduced increases the net profit through sales, meaning I'll have to pay corporation tax on that amount, along with my regular sales. Are there specific accounts/categories that I nee…
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Help! I've searched everywhere and tried numerous things, to no avail. Hoping there is a simple solution. I have real estate agents who are both customers (they receive a monthly bill) and vendors (we pay commissions). Sometimes I need to retain part of their commission to pay their outstanding invoices. However, on their 1099 I need the numbe…
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Hello, How should I record a sales tax penalty (late payment) in my accounting so the sales tax report balances correctly? Thank you
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I run a construction company and the bulk of my transactions are items that I get reimbursed for. I've found the article on "How to account for reimbursements" and am following that, but it doesn't quite fit my scenario, so I'm hoping someone can help me figure out how to book it. Upon further reading, I think the items I pay for are a…
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Hi, I have my main business account set up in Wave in my chart of accounts as a "Cash and Bank" account. However, if I issue an invoice to a customer and they pay by bank transfer to this account, I can not select it as the account. I can select it on the Accounting > Transactions page though. What is going wrong here? Why can I n…
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New business and new to accounting and Wave. I have my startup receipts in a simplified excel and initial start up costs came from several personal accounts and CC's. I also have expenses on the business account ( new ) but those are also in my start up spreadsheets. If I load my business acct info into wave, the transactions will import into wave…
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I changed banks and I needed to transfer some large sums of money around. How can I get bank account transfers to not show up in the income/expense reporting? They aren't really income and expense as the money is just moved from another account. It messes up the whole income/expense reporting for the year.
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I am trying to reconcile my books. First 3 months went smooth. These months i did not receive any payments through Wave. Month 4, when i started receiving payment through Wave issue started. I have 7 payments showing up and approved in Accounting section. See image. These amounts don't show up in Reconciliation section and it's the exact amount mi…
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When I opened my Wave account I connected 2 bank accounts. One of them is a trust account for holding client funds and is not part of the P & L , but the program does not allow me to exclude this account from the P & L. I see no go-around for this issue so I thought I would simply “disconnect” the trust account since I only use Wave to r…
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I have been trying to add Interactive brokerage account into Wave. did initially try 5-6 months back but was not successful. tried it again today and the problem still persists.. Is it supported? if not, what alternatives do we have to record investment account activity into Wave accounting ???
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I am using Wave Accounting and need to know how to categorize the IRS Estimated Income Tax Withholding payments I make on behalf of my foreign partners. Please note: The partnership I manage invests in Realestate rental and does not make any payroll (a.k.a we do not have employees). The amount withheld gets added to my partner as their tax witho…
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The video on "bookkeeping your invoice payments" doesn't seem to be working. Anyone know where i can find it? I'm completely confused by the "3 transactions for every 1 invoice payment" feature in Wave. I created an invoice with wave. the invoice was paid by the client. and now, yes, i have three transactions. But one of those…
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Hello, Is there a way for all my transactions to have a sequential transaction id (or sequential JV number) Please advise Thank you Regards
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Hi everyone I’m new using Wave. How do I enter transaction to show profit loss statement Sales revenue Less: Sales Return and Allowances Cost of sales Opening Inventory Purchase Less: Purchase Return and Allowances I add the purchase as expenses in chart of accounts but how I should put the Purchase Return and Allowances as i…
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The "TD BASIC BUSINESS PLAN" account on my latest balance sheet is $1,233,31 but in my transactions list, it's reflecting $0.00 which is the accurate amount. I've tried reaching out to support last week but still have not received any response. I'm aware that this has been happening to other people as well. Is there any way we can…
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Hello, I'm new to Wave so I apologize in advance if this is a silly question but I notice that there is a difference between how Wave reports transactions on two of my credit card accounts. The first card is through my bank which is luckily one of the institutions that has the connection so everything could be imported onto this platform. The s…
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I need to know the basics of how do I record payments and deposits using Wave when not linked online to my bank Thanks, Dave
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I'm switching from Quickbooks 2012 (Mac) to Wave this winter. Since it appears I can't just import my QB records into Wave, I'll be starting fresh with the balances. I'm wondering how best to save/archive my QB records just in case I should need them. Once I make the switch, I won't be able to reopen my QB files, so I'm thinking they need to be so…
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Hi, I have what looks like 2 payments of the same amount received, one is the stripe/card payment which automatically updates the invoice (and can't be amended) and the other is the payment from Stripe received in to my bank 7 days later (transaction was imported) - I've changed the account to 'wave payment' but it still won't merge - The only wa…
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By default, when we generate a Profit and Loss report, it is generated for the whole company or all accounts under Cash and Bank. Is it possible to select a particular account or All accounts under Cash and Bank to be used? I am looking for a function like what's shown in the figure below:
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Im a US LLC so my home-currency is USD. If I have foreign-currency activity without converting to USD will I always have gains/losses? Let me explain: Say I have a GST liability account (CAD). I make a sale in Feb and collect $1000 GST. The CAD/USD exchange is 0.80 so my balance sheet will show a GST liability of $800 USD. On Apr I remit this $1…
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Hi, Im new to wave and my limited book keeping knowledge is hindering me. Im a sole trader, started as self employed this September, I have registered myself with HMRC. Im confused, I am logging invoices and marking as paid, checking against my bank account. The logging purchases, checking off receipts and agai checking against my bank account. Ho…
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Wave balance on the transaction list is £5221.23 (correct amount), whereas on the headings is --£39,778.77 with the difference of £45,0000
