Accounting Technical Support
Discussion List
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Hello everyone, . I am completely new to accounting. I started studying it, and I acquired a certain understanding level. But there are some questions I can't manage to answer and understand yet, and I'd like to ask you for a bit of help. . I am completely new to accounting. I started studying it, and I acquired a certain understanding level. But …
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Hello everyone, . I am completely new to accounting. I started studying it, and I acquired a certain understanding level. But there are some questions I can't manage to answer and understand yet, and I'd like to ask you for a bit of help. . First, I'd like to ask a question about share capital for a company (let's say limited liability). Let's say…
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Hi, I have 2 questions. First, I spent $20K of my own money in education as part of start up costs. It was purchased before my LLC officially started. Can I add this expense to Wave as owner investment? Second, once I categorize it, how do I pay myself back for the initial expense?
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I am new to all accounting. I am trying to make the invoices but not sure how I know if our tax is recoverable or non-recoverable. We provide a service and supply the products that we install. Not sure where to start so we are not losing money in the end.
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Can anyone tell me how to import my backed up data to a new company? I am new to Wave and entered 3 years worth of accounting before I realized that Wave does not have the ability to make a journal entry for retained earnings. I made a back up of my company but am unable to find any instructions on how to import that information into a new company.
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Hello, I live in the UK, but I've had to invoice a customer in EUR. They paid me the total rate in EUR but my bank obviously converted the amount in GBP with their own conversion rate + applied some transaction fees. I now can't reconcile this payment as your conversion rate doesn't match my bank's, so it looks like the client still owes me som…
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Hi, I use Wave as a marketing agency. I'm looking to take on a project as a goodwill effort, and will be donating most of my time for building a website and a discounted hosting rate in the future. The arrangement is that the client will pay for any hard costs I incur (website assets such as photos or themes), but I will donate all labor. After …
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Hi waves specialists. I have a question regarding a particular case. I've made a movie with people that have worked for a % of the benefice. Actors, technicians...etc. Some of them have companies, so they can invoice, some of them don't. How can I pay these ones? Can I send out a payment without an invoice? Can they be considered receiving royalti…
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Help! When I enter a purchase transaction it goes through as a withdrawal, but when I try to reconcile my bank statement it has suddenly become a credit, so my difference is twice the Wave balance, if that makes sense? Also that when I import my transactions from my bank statement, they go into the debit column which is where I believe they belong!
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Is there a way to download a statement in PDF format?
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Hi all! I just got a surprise SBA EIDG deposit which wasn't much but seen to be a $1K grant for each employee. So the G in EID(G) is a grant instead of EIDL for Loan. This is my understanding from what a lot of people have been posting on Reddit (I know I know but so far it all lines up) and SBA website but the site is not clear enough as it ment…
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Hi, Either I am doing something terribly wrong, or there is a bug that is inverting the column titles in Reports -> Account Transactions. Here for example, Intercom is an expense. Not a sale or income. (notice the balance is negative after it got a "CREDIT") And if I click on it and look at the details, it is registered as a Wit…
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Hi, I frequently purchase stationery items for my business using my own cash or personal card. I record these business expenses in my corporate wave account as follows (example for a $100 purchase): Debit $100 in account "office supplies" declared as an expense in my chart of accounts (70 series) Credit $100 in account "Due to Di…
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I received 2 payments for 2 separate invoices from 2 different customers, but the bank combined the 2 into 1 single transaction when the cheques were deposited. Now they show up as 3 separate transactions in Wave, after importing the data from online banking. Usually, the importation crates duplicate transactions that can easily be merged into 1…
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Hi there, I tried searching for this in the forum because I'm sure I'm not the first person to have this issue, but I didn't turn up anything—apologies if this has been previously covered. In any case, to quickly summarize my issue: * I signed up for Wave halfway through last quarter, correctly putting in my opening bank balance, etc. * I then s…
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Hi, Ny account balance in transaction seems gone wrong. Please advise.
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Hi! New to bookkeeping here. We now work with social media and google ads and we charge the client for the ad budget once the ad finishes(with some exceptions, they pay me first). So basically they give me budget to run their ads. Am I correct in thinking that this budget that we're paid would count as a service income and when they charge us for …
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I need to download an excel report showing all my business transactions in 2017 in one singular report. Is there a way to run the business transaction report to show multiple accounts to include a checking account and business credit card? They show up just fine on the transaction page but on the actual transaction report page, I can't seem to fig…
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I am attempting to search for transactions tied to a specific customer. For example, I have numerous expenses I have incurred that I linked to a specific customer, that I now need to invoice for. However, when I search by customer name, I get no results. This is consistent among all my customers and transactions. According to this https://sup…
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When I tried to book a Tax Payable amount, I created a new Bill. But this automatically gets booked to Accounts Payable instead of the Tax Payable Chart of Account item. How can I book it under a Liability account that's not the Accounts Payable?
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I can't seem to debit retained earnings directly. I want to account for profit distributions to partners. I can record this as an owner's draw, but then I get a permanent line on the balance sheet showing all the money that has been distributed doing back forever. Is there a way to debit retained earnings directly? Thanks!
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Hello, I am trying to edit a bill payment (expense) but I see this message that it can not be edited So I go the bill to edit the payment, but the only action I can take is to delete it and not edit it :/ , am I missing something?
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Hi, Im unable to upload my bank statement. Please check the screenshot and let me the solution of this issue ASAP.
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HI IAM NEW TO THIS I NEED HELP TO KNOW IAM DOING THINGS RIGHT WHERE DO I ENTER MY RECEIPTS? WHERE DO I ENTER MY BILLS DUE AND OR PAID?
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I'm a new user to Waves and still trying to work my way around the software so please forgive me if I'm missing something obvious. Anyway, my company is project based with each project having a lot of different expenses which vary depending on the project. I have been adding these costs into individual expense accounts. I would then like to lin…
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Hi There, When I create an home currency in BYR, the amount less than 1, it cannot save the transaction. May I know the reason? Can this issue be fixed? I tried to clear all the cache and update the chrome to the latest version. It does not work too.
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We are three owners for a business. One owner would like to leave and take his money (lets say approx. $1000). How in detailed steps can I enter this information in my WaveApps account if this money will be taken from the Business Bank Account? Please note: I dont have accountant knowledge, so please explain it in clear steps. Regards
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Hi all, I have management companies handling rental properties. Each month they provide a statement that contains transactions like incoming rent, maintenance costs, management fees, etc. I used to run Quickbooks and there I could post a "single" transaction while splitting out the income and expense line items. This yielded a net de…
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Hello, Please I'm trying to figure out if there's a way to filter all wave transaction that were paid for by cash. That way I have a comprehensive list of all cash transaction over the years. Is it possible? Help please
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Hello. New to Wave. I have discovered two charges in my bank statements associated with Wave, but are not directly associated with a Customer Invoice / Payment / Refund / etc. How can these charges be identified within the Wave system? Meaning where in the Wave account can I find more information about these transactions besides the transaction…
