Accounting Technical Support
Discussion List
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I have a client who wants to migrate to Wave. As captioned, it is a registered charity here in Hongkong. For receiving donations, the accounting is simple, Accounting > Transactions > journal entry takes care of the bank deposits from donors. I can even create a donor entry as a (heaven forbid) customer! BUT 1) How do I create a receip…
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How do I categorize "Tax Collected by eBay"? In other words, in PayPal, eBay Sales include the Total paid by a buyer, which in many cases includes sales tax from buyers in states other than mine, meaning I personally don't have to collect and submit this tax to the IRS, but eBay does (all because of the Marketplace Facilitator laws). So …
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Is there a way to only include verified transactions in a General Ledger report? Thanks
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Hi there, ive had look around and couldn't find the answer to this. Is there a way to claim only a percentage of the invoice as a business expense? Some of the costs we incur are not 100% business expenses, ie hospitality at 50% is there anyway to lodge the entire invoice but claim only a percentage as an expense?
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I looked back through the queries and saw this was requested. I presume it's still available can anyone help? Basically I want to search for a string of text in the description of my transaction. I would have thought this was basic, otherwise how will you find a transaction for example to return a purchase? TIA
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Hi. I'm having trouble how to categorise a prepaid expense. The prepaid expense is a $200 P.O Box rental. Withdrawal - account "Statement" Deposit - account "Prepaid P.O. Box Fees" (Vendor Prepayments and Vendor Credits) What category should I be using?
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Hello. I have already categorized all of my expenses and deposits on my online banking. I have exported them in excel and also all of the other formats that wave allows and uploaded them but it only can read 2 of the options and on those statements only the date, amount and description show up and no category. Has anyone else had this issue and f…
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hi everyone , total newbie here and im so confused ! with my statements for business (all up uploaded) i have transfers from my business acount to my personal (profits from sales ect) how to i go about recording this in my accounting set up ? do i do this a a owner drawings ? it doent seem to show as a profit when i do this ???
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I have a problem that I'd like to get feedback and tech support for. I have several clients whose books I manage through Wave. For one such client, I created asset clearing accounts for the merchant processors he uses... so that I can book his sales in the month they occur. He uploads his bank account directly to Wave and when a transfer from one …
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Hi, I am trying to do my income tax declaration and I wanted to see all positions I booked in the category of "Machinery, Equipment, Furniture & Fixtures" over the financial year, to verify my asset book. The positions are not showing up in the Transactions page. The positions were added using bills. This is pretty annoying as I hav…
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Hi, With the new update, how do one process payment of multiple invoices from one deposit?
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Part of mu business is providing hosing etc. which is managed on another platform. This platform automatically invoices my customers and bills them using stripe. At the moment I am unsure how I should record these transactions in wave. As stripe pays these into my bank account then it isn't overly difficult to just tag them all as income for hos…
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Hi, I'm new to wave and just trying to figure this out :) I'm trying to create a contra account, but I don't see anything that says "contra" in the Chart of Accounts. How do I create this account in Wave and make sure that it's marked against the correct asset account where the money actually is?
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I was trying to complete a reconciliation and could not merge identical transactions. If I deleted one, it deleted the payment for that bill under "Purchases". (It did not matter which one I deleted - I would get the same result each time.) When I went into "Purchases" and "Record a Payment", I would then get two i…
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So I was trying to record my product r&d both under expenses and long term assets. I then found out Wave doesn't allow multiple categories, so now I just recorded under expenses but how can I also add under long term assets? Any help would be greatly appreciated :smile:
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I'm taking over a client's accounting and noticed that his entries for any expenses were classified as credits and any deposits of income from invoices are listed as debits. This goes back to last year. How do I fix? Thanks
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Hi, I have a problem with bill payment reconciliation. I have a supplier's invoice that has no payments against it: But when I go to the bank transactions, it says that the outstanding balance is less: I don't understand why this could be? I had some payments allocated against it, which I deleted. I am surprised that it could still be recogni…
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Anyone noticed that the Manage Transaction section when clicked goes blank nothing is being loaded even after reloading and restarting. See Attached
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Hi, I manage my business with a main account, and a savings pocket (A linked savings accounts). How would i record these transactions on Wave Accounting. Can someone please assist. Thanks!
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I'm looking for help with end of the year reports. We use Turbo Tax to do our taxes, and many of my CPA friends swear by Quickbooks. The main reason is because QBO can automaticly classify your transactions into categories that fits in line with the questions asked on the schedule C. I questioned whether I could do that in wave as well, herein lie…
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Good day. Please assist... I have deleted an invoice and it is still showing as accounts receivable.
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I will like to know when the ongoing report maintenance will be resolved, I have been trying to upload my bank statement since April.
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Transaction dates in Wave after Bank Statement import from my New Zealand Bank (in OFX) differ from the dates recorded on my Bank Transactions page - sometimes it's one day difference. Is there a setting in Wave to sync it to New Zealand Standard Time NZST? Thank you for helping. Alex
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Hello Everyone! Is it possible to delete an unwanted category to remove clutter? Thanks in advance! Kind Regards, Thuc
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Looking at the transactions on my USD account (I get paid in USD and then convert it to GBP for my own use), after receiving a payment, then transferring all the money to a GBP account, is showing a balance of 0 USD (expected) and 126.21 GBP (not expected). I thought the GBP amount was merely the USD amount converted into GBP, but apparently it i…
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I deleted incorrect records but that affected the bank account. The balance still shows in the report and when I drill down no transactions and the reconciliation is still out by the total of these transactions.
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Hi there, I have been trying to calculate my bi-monthly GST return via Wave and it seems that the report calculates the tax incorrectly. In New Zealand, GST is 15% To calculate what the GST is on an inclusive amount, the formula is (N x 3) / 23 eg. ($115 x 3) / 23 = $15 It seems the reports in Wave calculate the tax by multiplying the TOTAL i…
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Can anyone tell me the proper way to categorize Income Tax payments to CRA in Wave? I am also wondering how to categorize my HST refund. I assume these are not typical income and expense accounts but am not sure how to account for them. Thanks!
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I am doing a transaction, paying bill, using split option and it gives me this error "THERE WAS AN ERROR SAVING" Its not related to browser cache, please don't suggest to clear browser cache or something like that, its related to wave software. Screenshot
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We used a 'Load&Go' card, provided by Australia Post. It's the sort that you load up with value and then use in the same way as a debit card. For us, it's like the Petty Cash tin. The card has expired and the balance has been cleared. We can claim that balance back, which we may do, or write it off. I've worked out now how to account for a w…
