Accounting Technical Support
Discussion List
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I would like to map some of my unpaid expenses to an account i set up in the Chart of Account name "Accrued Expense". At the moment all unpaid expenses in bills are mapped to Accounts Payable in the balance sheet. Can you advise how make changes for this. Thanks
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I doubt that this is actually a "new" discussion.... Is it possible to create new categories of expenses? I have several areas of expenditures that aren't listed, or that I can't seem to find.
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I'm setting up Wave but a few customers already owe fees How do I add these to the Invoice. Then keep adding a weekly amount to the outstanding fee
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Is there a way to export searched transactions in Wave to an Excel or CSV file? If I did Menu > Accounting > Transactions > applied specific filter (eg. Category = GST) and clicked Apply, it shows all the transaction I was looking for. Now, I would like to export this searched transaction as an Excel or CSV file - is that possible?
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I have a couple of invoices where payment has been received yet that are being shown under "Discount on services". Attached are the screenshots to explain the situation.
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I have purchase washer and dryer for my laundry shop which required an installation of facilities such as heater, water tank and gas pipeline; also renovation for the shop. How do I record all these purchase/expenses in my account? Should I split and record only the washer and dryer as Asset under MC & Equipment and then split the recording of…
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Hi everyone, I've been trying to read up a bit on this, but must confess I just find all very confusing. If I'm uploading bank transactions via a CSV file and this, naturally enough, contains both deposits and expenditures, I've only just tried this with my test account to make sure I lined up all the fields correctly (which worked, so Woo Hoo!…
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My business is small (property rentals) and while it’s been useful getting things sorted to see that income and expense, the main purpose of accounting this way now is 100% about tracking a Personal Loan to a family member, I’ve managed to get the past 4.5 years recorded properly so far, but this has only been for things that can actually be seen…
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I have expenses for a small enterprise that are to be reported separately from my main business but are run through the same bank account as my main business. There is an other income account type category but no other expense account type category to create accounts in. If I create another account called other income it will just be totaled with…
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Hi, I have recorded many transactions for sale into one account only under "SALES". However I want to reorganize my sales into under few names of sales. I already change the item/product into new name. But it can only be seen in P&L only for new transaction. ALL the transactions(old) could not reorganize into new names accordingly. I…
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My Bookkeeping System apparently crashed, and cannot gain access and will have to re-record 2019 transactions. How do I record these in Wave?
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Hello, I'm having a problem reconciling one month of our credit card transactions. I've entered the numbers correctly, I've triple checked all the transactions and I'm somehow still off. The weird thing is, when I validate the last transaction, wave says it's all good, and then spits me out saying i'm off by $250. Using the different filters on…
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Hello there, I am fairly new to Wave. It took me some time to 'get' that accounts from chart of accounts are the categories-)! what a naming confusion... has anyone brought this up before? Now that I got that- I added all my categories and they are showing on all my accounts- except on my credit card one. I can see them if I add the transaction …
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Hello I'm trying to enter discounts in my discount account but it's not reflecting as negative on my profit and loss statements as it should. Should it be reflecting on the debit or credit side?
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I have wave linked to both my paypal and my credit card. When ever i make a paypal purchase online for supplies the paypal uses my credit card. So when i look at my paypal account in wave i can see two listings for each purchase ive made, one being the money going out to make the purchase, and the other being the money coming in (transferred from …
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Hi Wave and other users! We've been using excel to log in our expenses before we shifted to Wave. We would like to upload our transaction on Excel by converting the file to a CSV and then uploading it to Wave. I have followed all of the instructions listed in the guide provided by Wave: https://support.waveapps.com/hc/en-us/articles/208622596 H…
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I run 2 separate businesses with the same assets. 1) a farm, 2 ) event center The farm must file a Sch and the Event Center Sch C. Currently, I have both in the same business in Waves, and split the downloaded transactions like insurance and utilities. This works for me, except for reporting. I have to export and manually edit the report to …
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Hello, I have a question here. Our company did some services for a company B and we got paid by shares at a certain price. We charged GST and paid it to CRA. Now we are selling shares. How to record this all? I guess there are two parts here: * accounting for invoices we issued - there is no income transaction to match my invoices. * accounting…
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I've created a product and enter both income and expense account(as picture above) In invoice, I selected the product and enter the selling price. In Income statement, Sales was showed but expenses(Cost of good) was not recorded. What I did wrong? Please help. Thank you
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I have uploaded a credit card statement. Initially I had issues with the UK date format of the CSV which I then changed - is there a way to get Wave to recognise UK date format? After that change it did upload the statement but with a new issue - it asked me to verify the columns which I did but it then turned the 'Money Out' column transactions i…
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Hi I have a personal Trust. The Trust asset is a portfolio of shares. Income earned is primarily dividends or interest and if shares are traded then capital gains. Expenses are typically accounting related such as management fees, bank charges etc. I also need to keep track of distributions to beneficiaries. What would be the best preset settings…
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Hi all, I have closed down one of my foreign currency USD bank account to another bank account (Functional currency is in SGD btw). In doing so, my USD bank balance has been zerolarised but there is a remaining portion of SGD still showing on my balance sheet. I tried adjusting it via journal but that would not help at all. Is there any other way …
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Hi, I wonder if anyone could help, Wave does not seem to calculate my realized or unrealized gains on foreign exchange, I invoice in multiple currencies and also have bank accounts in those currencies, my base currency is GBP? I also use a commercial software package which accounts for realized or unrealized gains on foreign exchange correctly. W…
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I am the treasurer for a very simple non profit organization that does accounting on a cash basis. Is there any way to remove some of the lines in the financial reports... liabilities, COGS, Gross profit, etc. I just want a very simple set of financials
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As with the situation all over the world, my business has been massively impacted by lack of events and as a result I've had to seek government assistance such as their SEISS scheme and Universal Credit. How should I use Wave to log benefits?
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How can I make sense of GST (Canadian sales tax) on my LLC's balance sheet? Or can I leave it off the books somehow? It will never make sense due to currency flucations. It will never even out and will always be off. GST is a recoverable sales tax in Canada, its not an "expense" like sales tax in the states. Example, I incur $10k (CAD)…
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Hello, I need a little help. I encounter some kind of bug in my reporting but please take a look at these series of picture below : Invoice Data Account Transaction Screenshots If you look at these images the amount of money reported & input from the Invoice & Report at Account Transaction is different. Is it me or do you guys exper…
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Hi! My Tangerine accounts stopped importing transactions around July 23rd. I tried to remove the connection and reconnect my accounts, but now I get an error when I try to connect to Tangerine. I've submitted two help tickets regarding this but haven't heard anything back. Is this happening to other Tangerine users?
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I manually entered some of my rent as a business expense, drawn from the cash on hand account. I later transferred money from my business to my personal bank account to cover the rent. What category do I put the bank account transfer so it removes the debt showing in my cash on hand account?
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The product cost will include the vendor cost + freight + clearing charges etc. How can I enter the product cost and also create separate liabilities for freight service provider etc?
