Accounting Technical Support
Discussion List
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I had to import delinquent invoices prior to using Wave for collection. The partial payments received have had an impact on our opening balance which matched the statement. Since those are the only transactions prior to January 1st, 2019 added so that we can track the payments, how do I fix it?
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Wrong balance is showing in one of my account in Transactions however it is showing correctly in General ledger of this account.
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Received a transaction into Wave from the bank download. This transaction has GST (Canada) included in the value. Click on include sales tax thinking that this will create a split transaction for expense amount and tax but nothing happens. Any suggestions?
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Good day everyone... I am looking for some direction. How do we record rent received from a property that we are managing for client at which point we are paying out the value to the owner at the end of the month. Looking for some clarity here.
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I purchased a bunch of start up equipment before I had a business bank account and business credit card in order. So far I have created a liability account under my business profile of "Credit Card - Personal" and have applied those transactions to it but that is clearly not correct as that makes it look like a liability on the business'…
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• Trying to clean up my mess of misunderstanding of COGS versus Reimbursed Expenses to better report on income & untangle filing taxes • Responses appreciated in non-accounting vernacular where possible (no assumptions that I can follow accountant/invoicing software inner workings) Let me use this example: You need shelter for your dog. Someon…
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In my account balances report, why do sales and expenses not have beginning and ending balances? They must have them . . . there are debits and credits and net movement, so they should be listed. This makes it very difficult to true up with my excel report generated from accounting.csv when I download the wave data.
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How do i manually enter a payment to the state for sales tax due?
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Hi there, We are a construction company, doing different engineering disciplines in high-rise commercial buildings. We find your platform extremely helpful and for that you lot have our gratitude. We are wondering, if there's a way we could track profit and loss on the basis of different projects, this would help our execs see the bigger pictur…
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I own a clothing store. When my clients pay via credit card, the next day I receive a deposit into my bank account. How do I categorize that in wave?
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Hi, I cannot find an option to export invoices with invoice numbers and date, customer, product and value to a csv file. Is this possible? Thanks
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Hi all, I'm building a startup which providing an online escrow services. Currently im using Manager.io(offline) which able to serve my requirement so far. I've been looking around how waveapps works and im not sure if it able to process the payment like this for example:- p/s: Due to waveapps offering api services which i think it could i…
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Hi. Just notice that dashboard monthly income information is totally wrong. After we counted income manually from the transactions we notice a big difference in totals. That means all calculations are totally wrong. Can you look into this Major issue, please?
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Hi Everyone! My client is buying a truck from a business. How would I set that up? The truck is worth 60k and my clients make weekly payments.
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Since I only just learned how to set up petty cash in Wave, my 2019 cash deposits were only the difference in the cash box between the end of the day and the beginning of the day. Thus, on days when I had to pay my farmers-market fees, those amount had already been taken out and, although they were recorded in Square as "paid outs," ther…
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I uploaded a receipt. Posted it to accounting. Realized that I stupidly hadn't changed the date. Found that I couldn't correct the date. Deleted the receipt (which deleted the accounting transaction). Re-uploaded the receipt. Made sure I had the correct information and clicked the "Post to Accounting" button. It did not create a new tran…
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I went to reconcile my bank statement for the year. It said it had been last reconciled on 12/31/18. I started with January. After I entered the ending balance, Wave says that it has already been reconciled! So then I start with February, enter the ending balance, and it says the same thing! I thought I'd try a different account, and the same thin…
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Hi Wave Team, How to key-in starting/opening balance for customer? My company just started using wave on Oct 2017 so i need to put in all the starting balance & the most critical part was the receivable/customer part.
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* When I mark an invoice (which has a recoverable sales tax, called "BTW" in the image attached) as PAID, the sales tax I call BTW disappears. When I rename the category to "services" I can make the sales tax appear again (but the invoice status becomes unpaid again). * If I then mark the invoice as PAID again, the transaction …
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Hello, I am a single-member LLC operating as an S Corporation. I use Wave for accounting and separate software to run payroll - I am the only person on the payroll. When pay day rolls around there are two transactions posted to my business account - one is for my net salary/wages and the other is for both the employer and employee taxes. Employe…
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When reviewing my transactions I merge the 'invoice payment' (generated by Wave) with the payment record that comes through on my bank statement. I do this to avoid the double-up that otherwise results. However, I now see that when I merge the two transactions that the sales tax (GST) disappears (even though I have included GST in my original in…
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Hi Guys, Been trying to upload my account statement but keep getting the above error message. I have tried all the various date formats suggested to no avail. Anyone experiencing the same or has a solution for me, please? Thank you.
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I'm a screen printer. When I make a large purchase of shirts, how do I categorize the purchase?
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Hello Fellows, My base currency is PKR, however, I have a bank account in AED. The account seems to be perfect until 29oct 2018. After that two of the transactions are not showing the right currency exchange. The fluctuation is so large it had made my PKR balance negative! So Its showingAED33.92 = -(PKR26,215.60). How to fix this sort of problem, …
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Hi! How do I set up a sales tax using a graduated income tax table? Thank you.
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My business credit card account (with US Bank) is accompanied by a "central bill account" that, for my solo business, essentially acts a the sole sub account of the central bill account. My question is what bookkeeping transactions do I need to account for a credit card purchase? My downloaded transactions resulting from a credit card …
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I am sure I am overthinking this. I need a walk through to do the following. * I have Hotel and gas expenses for the month of April. How do I log them in as separate expenses and associate them with the credit card payment total at the end of the month so that it doesn't register 2X as debits from my overall balances. * Under account do I add …
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When I receive an e-transfer of a specific amount to my account can it automatically recognized as Rental Income (Category) from a specific tenant (Customer)?
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Hi there Community! I need some help with "Vendor's Compensation" as it pertains to State Sales Tax. For those not familiar, here is the example: * I sell something for $100 and charge 6% sales tax ($6) * Then the following month when I go to pay the state their sales tax, they say I only owe them $5.75 (example) because I paid on time.…
