Accounting Technical Support
Discussion List
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Is there a way to choose a sales tax set up in Settings to be the default tax account for expense and income accounts? If not, is it possible for the chosen tax to auto calculate when chosen in receipts?
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Hi all, is there any methods to input >200 bills per time? Thank you.
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I only have a few transactions a week, so Open Banking is not cost effective for me - I use CSV. I Have two issues with this 1) Why can I not save the format of my CSV file instead of having to specify it every time? 2) If I have a file containing only payments I can't specify the Deposits field, even though I can see the empty column on screen. I…
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I just created an account with Wave and I'm trying to create my first bill for a vendor who printed some business cards and then I sold them to my customer. I am just not sure how to categorize this item and under which expense category to add it. Is it "Cost of Goods Sold", since it is a physical product? Thanks in advance.
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When I connect my CC to wave it shows the payments I make to my CC as income. How do I change that? I'm not an accountant, I could just delete the transaction but should I? It also does this when I mark an invoice paid and then the deposit shows up in the connect bank account.
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Client doesn't use Wave for Payroll. I need to record the payroll check that cleared the checking account. However we would like to record the gross - deductions=net How I do this in other software programs is the check shows up in the bank feed I go into the transaction and split it. The total transaction is the gross the split is the deduction …
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Why are (Advance Payments) from Customers appear on my Income Statement? I went to Invoices page and select Record a payment next to customer's invoice. For the Payment method, I choose Other, and for the Payment account, I choose the account "Customer Pre-payments" (which is a liability account that I made) When I went to reports and …
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New here, so just trying to figure things out. My bank balances are off. I am connected to my bank accounts properly. I recently began to categorize my transfers and expenses and my Operational Expense account shows a balance of over 27k. Which I know is WAY off. It appears that it calculates the transfers from my income account, but it does not u…
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Hi all experts, are there any methods to work for accounting job if my client got more than 500 invoices/month and 300 bills/month. Thanks.
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Hi, I can't find an easy way to produce a report by customer. I need an easy way to produce a sales report per each customer. Am I missing something? Thank you and Best Regards, T. Kart
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Hi all, I have bank accounts set up in Wave for multiple currencies, and when I move money from one account to another I create a transfer in Wave. However Wave insists on using it's own exchange rate, rather the one that was actually used to make my transfer (in my case the rate is set by Revolut on the day I made the transfer between accounts).…
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I have used the app before, and I could add an expense manually, however when select receipts, it ask me to upload a photo of the receipt. I s there a way I can manually add the receipts??
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So I took out a loan for $8400 back in January and set up a liability account for it, and when the $8400 was deposited in my bank, that transaction was categorized as a transfer from that loan liability account. However, there is a $503 loan fee that is added to the $8400 principal that I also need to pay for. The liability account only accounts …
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Every so often I have extended money to my business so that I can issue bill payments. I am not sure which of the 2 above accounts to use. Essentially, I want to see the chosen account in the drop down menu when I am recording a payment.
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Last week, in preparation to meet my accountant, I went through the whole year (2019) and made sure my accounts were reconciled and in good shape. Everything looked good....last week. Today, I take a look one more time before meeting with my accountant this afternoon, and nothing is reconciled. I don't even understand how that happens. If it w…
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I have a situation where I need to file quarterly sales tax reports with the state, which include all gross revenue, and then a deductions worksheet to show various tax exemptions. I would like to include the sales tax on all invoices so that I can include them in the report on Wave, however, I also need a way to offset the taxes into an account …
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Hey there. Is there anyway to create a report that shows income and expenses with the photos attached? Thank you!
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I need to create a non-operating expense account to book investment management fees. I do not see an option to create this type of account. Any ideas?
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How does Wave import transactions from connected financial institutions?To help automate your bookkeeping and save you time, Wave has partnered with a bank data provider, Plaid, to import transaction data from your connected financial institutions. As a bank data prov... Read the full story here
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I was doing some checking and I see an issue with some of my customers. At a high level customer account balance is fine, but drilling down in a customer is where the output doesn't make any sense to me.. For these customers I have sent them invoices, which they have paid. They paid by check so I have manually recorded the payment. When I run…
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How to resume transaction imports on our new bank connection updateWave has partnered with a new bank data provider to update and improve your transaction import experience. This update increases connection stability and transaction update frequency and improves o... Read the full story here
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Connect your bank account to WaveLove typing long lists of transactions? No? Here's how to connect your bank accounts to Wave, so that your transactions can update automatically! To connect a bank account to Wave: Click Banking i... Read the full story here
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I paid an artist to design something for a product. How do I categorize that expense such that it is reflected in the value of the inventory purchased using that artwork, as well as the eventual COGS entries?
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So paypal seems a no go to use with wave via sync. So I currently upload statements. I have my bank account as funding source for paypal. Using eBay they took 0.83p out via paypal using direct debit so straight out of my bank account. Wave records in accounting 1) DIRECT DEBIT PAYMENT TO PAYPAL PAYMENT REF (bla bla bal) MANDATE NO 0002 and th…
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In my Profit and Loss Report, I have both bank transactions and invoices that are manually entered as "client- income" showing up twice, and therefore doubling my income. How do I link these when I manually mark an invoice paid so they don’t appear twice? In other words, what is the best approach to manually marking invoices paid when th…
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How do I issue my company a credit, and then use that credit to pay for other items purchased?
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I use Wave on my iphone but I want to start using it on a dedicated iPad. I can't find this app on the app store. Is wave not offered for iPad?
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Hi, I'm new to Wave and... accounting. I have connected my credit card account to Wave now I'm left wondering whether I still need to supply a receipt with each marked purchase withing the credit card account. Adding receipt photos just creates duplicates, which I can merge but it seems redundant. I was also wondering - is creating my own categ…
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