Accounting Technical Support
Discussion List
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I am new with Wave, and accounting, and a new small business owner. I was wondering if you guys could help me. I have been trying for a while now and I can't figure it out on my own. I need to generate a report that shows the profit/loss for a certain job. I had to manually create an income for "Job 1" and an expense for "Job 1&quo…
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I can't find in the new update how to transfer transactions from one business to another. It only allows me to transfer to other accounts.
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Hello, could anyone please help. I use wave for very basic needs, only enter my income and expenses. When I look at transactions of all accounts I assume it shows the profit (my income minus expenses). But when I do profit and loss report for all times it gives me different figure. I am confused why this is happening!
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I am the bookkeeper for a school and have just started using Wave. How do I get starting balances into individual invoices.
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Hi all, I keep trying to mark the categories in some of my transactions, but then when I click save it always says "There was an error saving" Why could this be?
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Hi everyone, I'm just getting my feet wet with Wave. I love the UI and its simplicity (moving over from Quickbooks)! I had a few questions that I would appreciate your help with: * I'd like to know if there's a way to bulk categorize "Transfers". I'm transferring over deposits from my merchant account to Money In Transit and Wave is re…
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I run a business that allows Pros and other instructors/coaches (aka vendors) to use my platform to run clinics, lessons, camps, and other things like this where their students use my site to register. It's kind of like a marketplace where students can look at the various coaches and choose the one they like the best, and at the end of the day, al…
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There is no provision to group provision for doubtful debts as negative balance under assets group.
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How do I record the transactions for paupal general currency conversions? On the USD side of the account I'm seeing a gross of $99.61 On the CAD side of the account I'm seeing -$132.13. So in Paypal this moved CAD into USD. How do I record that in wave?
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I want to record business training programs attended, as well as fees for participation in vendor markets e.g. cost for rental of a table/tent to set up my booth. I'm unsure how to categorize these...should I just select "Uncategorized Expense"? How else can I capture these expenses?
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Hello, We're a small fine arts company and will be donating some art this year. How do we account for the no-cost transfer of art to another person as an owner (aka it's not in our inventory anymore, so we can't sell it) that we would have sold for $X if it wasn't donated? Thanks! Kyle R. Brady VP Business Operations, Treasurer, Secretary The …
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Hello to everyone! I am new to the community and business/bookkeeping. I have a car that was purchased primarily for car sharing/car rental. When it is not being rented out, I use it personally. My question is how do I add the car as an asset and the loan into my wave account? Below is the info of the loan: Vehicle selling price: $14,600 TAVT/S…
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Evening people! I am an IT consultant selling hardware and my time, BUT - I do not make any profit on goods sold, its purely time where I receive profit. I have uploaded loads of receipts, and categorised them under IT Hardware. As everything you buy business-wise is tax deductible (I think :-)) is there any reason to re-categorise the items for s…
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Not sure how to enter a car loan repayment as the funds were not deposited into my account as described in the "how to account for a loan" section
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I wanted to use wave to manage my book-keeping and I have plenty of transaction since Mar 2020 that need to be imported but have no idea how to do so.
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hey can anyone help me please! i 've been manually marking off my invoices as they have been paid. then i decided to upload bank statements and my invoices are all now out of wack with majority of them saying they are overdue
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I am in HK. When I create a bank account using USD. When I create an invoice and client pay me money. I could not find a selection for "Payment Received for an Invoice in Wave" When I create a bill and I pay money from Bank, I could not find a selection for "Payment Sent for a Bill in Wave" When I create a bank account using H…
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Hi, is there any way of updating the "Account Transactions" report so it will include a Category column?
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I have rental apartments that I pay for oil and then tenants reimburse me. This reimbursement is not "income." In quickbooks I could always take payemtns to an expense account. In wave, this doesn't seem possible. Maybe I'm missing something? Or maybe I've been doing his wrong all along?
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Hi there, My company has funded opening of a new branch with start-up capital. It needed to be set up as separate company with my company being the 100% shareholder. As what is the start-up capital categorized? Thank you, Jake
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I need to post a brokerage invoice into the system. How can I go about it? There are a few things into play here - duty on material bought, gst on total value of imported material and finally brokerage fees. How to post GST on the total value of imported material as it only shows 13% HST option and I cannot find a way to override it. Please help!
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Hi, new to this program. I recorded a journal transaction, crediting my bank account with the deposit I personally put in and debited Owners Equity. The only trouble is when I look at the transaction listing although it is listed as a credit the balance is a negative. It should be a positive. What has gone wrong here?
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If a client wants to put me on their payroll as a W2 employee, even if our arrangement is for a specific, short term design project, how should I categorize their payments in Wave? They would be pre-taxed W2 income, unlike all my other clients' payments, which are 1099 business income, and recorded as paid invoices.
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Hi all, I need some advise on how to account for appreciation of Real Estate Asset, in the following situation: 1) I bought a cheap property on a public sale for 40K (and then created an Asset entries in WAVE called "Property Acquisition Cost") 2) I have then made 10K of refurbishment work, which accounts both for expenses and apprecia…
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Right now we track all sales through invoices, and all items have their own sales/income account. We would like to start using the inventory accounts to show asset values in stored inventory. In our agriculture-based business, we produce our inventory without having an exact associated expense item for COGS (although it exists, it is in about 20…
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Hello all, My partner in the business borrowed $10000 from the business as a loan that he would pay in two installments, $5000 in Sep and $5000 in Dec How can I register these transactions? Thanks Gami
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I am trying to import my bank statement into wave using a CSV file, but it keeps on getting it incorrect. How do I delete all the previous attempts as even when I delete the entries Wave still brings the previous entries in?
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When i search something in wave it's saying "No transactions found with your selected filters." But that keyword is in my transaction list. Why it's not showing in search list. Previously i have used this feature correctly. Since few days i got this error. Please someone help me.
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Hi, I am hoping there is some helping hand here! Thanks Wave for developing this free accounting system! I am a new user and would like to find out more about the system. I record payment after the invoice is created. However, when I go to accounting transaction look for the payment, the description appears as invoice payment only. There is no fu…
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Non-recoverable Sales Tax (PST) is acting like a recoverable sales tax, but only for Asset PurchasesHi there, I live in BC where we have both two sales taxes: GST (recoverable) and PST (non-recoverable). When I record an EXPENSE using Wave (see my Shopify transaction), you can see only GST is marked as recoverable, even though I accounted for both taxes in my entry. For expenses, my sales taxes are behaving as expected. However, when I re…
