Accounting Technical Support
Discussion List
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I've downloaded a General Ledger report and then extracted the transactions.csv file in order to compile a list of expenses (I only use wave to track business expenses). I don't see any of my notes added to each receipt and I was hoping to see that because I note the reason for expense there. Is there any report that will show me the expense + n…
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My clients withhold 3% income tax on contractual fees , am paid less 3% which i will then net off from my income tax at close of the financial year The journal entry does not have an option of choosing any other asset other than cash & Bank, fixed assets, equity accounts as part of the payment method. This makes recording of such transactions…
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Hi I have a scenario which I'd like to see if I can get some advice on please. I have a truck which I am leasing. Each payment I make has HST applied to it. I currently have been recording the transactions as a Truck Lease category in Liabilities, but I understand it is not good practice to be applying HST to liability items. I have the option t…
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Has something changed to where certain roles are unable to merge transactions? I am able to merge transactions as "owner" but my wife is unable to as "admin". We've tried this on multiple entries, with the only difference being user logged in.
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Hey there! So after I categorized and reviewed my transactions, I started reconciling my checking account. Most of the months reconciled correctly (February - Current), except for my earliest months on record (November - January). I got the following errors for those three months (see screenshot 1): And each of those months share the same sto…
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Hello, What are the best practices to add my investment assets to WaveApps? I understand that Wave currently doesn't support an investment tracker. I just want to view my whole net worth as a whole, so this includes investment I made. Anyone have tips to do this? Thanks.
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So I owe amounts to multiple vendors which I am paying slowly and steadily. Where do I add on Wave so that Wave knows the amount I have paid to the vendor and reduces from the liability of the vendor
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Waves handles all payments by Wave automatically, but as you can see from that above pick one of the three transactions was imported with no category and when I attempt to add the category Wave creates an additional forth transaction. Any help or ideas would be appreciated thank you.
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Would like to be able to see the qty's that was sold and bought when exporting data
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I have just received a support email (copied below) alerting me that some of my liability accounts have sales tax applied. However when I filter my transactions to show only liability transactions, the ones with sales tax applied are all actually paid expenses in categories that came preloaded in Wave such as Computer - Software etc. These are als…
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Hi everybody, I have incorporated a company in July 2020 and I was advised that I could claim back the VAT from pre-incorporation expenditure going back 48 months. To that end, are the items considered a shareholder loan or are they categorised another way? Any advice would be much appreciated.
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I use account numbers with my Chart of Accounts. What good is that if I can't search by Account Number? Over the years I have the numbers mostly memorized and it's infinitely easier to enter 509 instead of search by "dues" to find "Dues and Subscriptions." First, it should be possible to do that. Second....what use is having a…
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My income accounts in order I have: refunds, other, sales In my income statement it shows in that order. Example: Refunds -$5000 Other $250 Sales $50000 This looks ugly. Is there any way for me to be able to reorganize the order so I can have sales on top?
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I want to have sales in a journal entry go to an accounts recivable account. When I have a bank deposit show, I want to DR bank and CR accounts recivable account. How exactly do I do this?
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Hi How do make a transaction where a guest paid in cash and I recorded in the invoice that it’s cash on hand, but later in the week I deposit the money into the bank?
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Bill created (Bill 005 for this example), as below. Shows as paid in full, brill o:) However, Account Transactions shows something quite different... :| This is reflected in the Account Balances report :/ However, the transaction itself does look correct :D Why does this bill show as not paid in full in some reports, yet p…
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Hello everybody, I'm wondering how to correctly create a transaction for a foreign currency exchange. I convert 100$ to 77£ but if I use Gain on foreign exchange and Loss on Foreign Exchange for the 2 transactions (-100$ and +77£), the major part of my expenses or income breakdown will be the foreign currency exchange. How can I label it as neut…
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Hi I requested data export few days ago and I did not get anything so far.How long does it take?
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for some reason the balance that has integrated does not match the wave balance but the wave balance is the same as my paper copy of my bank statement. The difference is the exact amount of a cheque. I tried deleting the cheque but that didn't work Need to resolve this as this was back in April and I can't reconcile any statements after April
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Hello, I currently use my personal credit card to make business purchases which my corp later reimburses me for. Is it better to include all transactions from my credit card on wave and categorize them according to business VS personal or should I only post transactions that are of a business nature? Regards,
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Reports > Profit & Loss Statement I noticed that the Operating Expenses are off on the P&L Statement. When checking for detailed, i've found a payment under "Unrealized Loss on Foreign Exchange". Is there a way to remove it?
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Hi, I've uploaded a CSV file of my transactions, and am now categorizing them and adding the tax rate. However, on some transactions, I have 2 rates. Example: => The product itself: 1000€ + 5.5% of VAT => The shipping of the product: 30€ + 20% of VAT I couldn't find a way to put this correctly into wave. Anyone managed to do it ? Thanks …
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Im a US LLC. I sell in Canada & USA. I use cash accounting. Im GST registered & remit for my Canadian sales. I had to make a $5k CAD GST "deposit" to the CRA when I registered. I made this deposit with a personal canadian card & payed it off with personal CAD funds. I then converted this $5k CAD to USD based on the monthly…
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My LLC has sales in Canada and USA. My default currency is USD. How do I add journal transactions for income in CAD? It defaults to USD which it isnt.
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Hi, I'm just wondering how to enter a Start up Government Grant into my wave accounts, which Category. Is it a "Capital Interest" or anything else? I also need to know where and how to enter Personal Investment into my wave account? Which category does it go in?
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Please consider modifying the Aged Receivable report to show overpayments. Since you don't allow customers to pay their balance as opposed to one invoice, they sometimes overpay one invoice as a way of paying their entire balance and it's a problem that there is no way to see if there's an overpayment I need to account for. If Aged Receivables wou…
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My income lowers by $394.29 when switching from Accrual to Cash Basis. The date range is 01-07-2019 to 31-06-2020. I don't have any unpaid invoices or receipts in that period. Cost of Goods sold and Operating Expenses don't change between the two. Thank you! EDIT: I figured it out. It was an invoice that was sent before the cut off date, but p…
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I've got a transfer from one account to another. When I imported my data, both sides were created, one transaction in account A and one transaction in account B. When I went to categorize them, I categorized one as a Transfer, and Wave automatically created another transfer transaction in that account. Now I can't merge the original transfer with …
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As seen above, the account balances for foreign currencies in the transactions page does not sum correctly for the selected account. The actual transactions in this account currently sum to 0CNY which is correct in the dropdown but incorrectly shows as 18.61USD. In reports, the conversion is correct for each line item, however the summations are…
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Hello I'm new to Wave and very happy to have the privilege of using such a marvellous accounting solution for free and free means real free. I've a situation where I had to pay Advance/Prepayment to vendor regularly for purchasing raw material and later needed to adjust with the bills they submit. Now I've created Advance Asset Account under Vend…
