Accounting Technical Support
Discussion List
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I've received several payments from my customers using Wave invoices, but when I try to get the payments to go to my bank account, this is the message I see: We're having trouble verifying some information on your application. Don’t worry, we can normally resolve this with a quick conversation. I have also been trying to contact the support team…
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Hello Team I've paid a deposit to a supplier, which turned out to be a scammer. Therefore, I will need to record this balance as a loss in my accounting system. Any recommendations?
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Hello! My expense report for 2021 shows a -$62.12 amount for "Uncategorized Income", but when I click on it to see where the uncategorized income is, I can't find that transaction anywhere. I've done a search for that amount and to see if I had any "Uncategorized Income," but cannot find that transaction anywhere. Please help.
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How come the expenses that i enter is not reflecting in the reports?
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Hi fellow frustrated Canadian users of Wave. I have been in touch with my business bank (CIBC) and Plaid about Wave and the problems connecting accounts. Plaid confirmed that there is a block in Canada and they are working with Canadian banks to resolve the problems but do not have an ETA. American banks have no issues using Plaid. This is 100…
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I have an LLC which also operates a dba. Both businesses use the same EIN but have separate bank accounts and invoice with different branding. Should they be under one account in wave or each business have their own account set up? Currently I have both set up with their own business account and appropriate branding to each invoice. Often …
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My credits/payments are showing under my debit tab and the debits under the credits tab when i look in account transactions. Has any one else had this issue and how did you rectify? Thanks!
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Hi there, I have a couple questions, and hoping someone can help. I'm wanting to pull a report, showing my income broken down by month. I see they have this feature as a widget on the dashboard, but I can't seem to export it at a report. Secondly, when you record payment, you indicate whether it is a bank payment/cash payment. Is there anywhere w…
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Dear Team, We need to deduct 10% Tax on all vendor bill and deposit that 10% to govt at then month end. We created a liability account "Tax payable' and used to make bill payment of 10% using this account and 90% using bank account. At the month end, we used to pay that 10% liability from Bank. It was working fine. For last 2-3 days, we a…
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I am new to accounting categories . . . are merchant account fees to be categorized as "cost of goods" or a "general expense"?
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I went to Accounting, Under the Account column, I'm changing it from "Cash on Hand" to another type like "Plant, properties..." but it doesn't work. I tried the other entries and the same thing happens, under the account column, it didn't work.
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I have a checking account that I use solely for handling gig income and expenses. When I receive gig income, I take a portion of it, e.g, say 20%, and transfer it into a savings account so that I can pay estimated income taxes to both federal and state at the usual times. Should I include this savings account in Wave, or since paying income taxes …
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A feature is something that should value add to a product. Automerge is anything but. If you add something to your program you need to make it to where it can be activated or disabled at the consumer's will not at yours. This isn't something I need, or want and it increase my time to get through daily task. It does not help.
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What is the best way to record payment for multiple invoices with one check? In the past they have been recorded manually just as paid, but then I can't merge those multiple invoices to the one check. Thank you.
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Hi. I am trying to generate a trial balance. I have put in the date range, as i want to see the trial balance from 01 March 2021 until today (10 Feb 2022). When i update the report, this is what i get at the bottom: this is impossible as we have had income during this period, so why is it not showing? similarly, the accounting fees are off…
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I would like a setting where a tax can automatically be added to ALL invoices without clicking. Literally every invoice I send includes GST, and I don't want to forget it.
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I have an S Corp, and I'm my sole employee. The S Corp pays my health insurance premiums, which are subject to income taxes, but not social security or medicare. Is there a way to get Wave to properly account for this tax treatment?
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I am seriously thinking of moving here from quickbooks but I cant figure out a way to implement their sub-accounts feature as we have a lot of itemized accounts that can be easily categorized. Any suggestions?
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I'm trying to figure out how to account for a "refund on an expense." The system automatically categorizes it as "income." How to do I account for the receipt and remove the amount from the expense category that it originally came out of? I see no "refund on an expense" category in Wave. If I have to create it, does …
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I have things I've purchased. I added them as bills and then recorded the payment inside the bill section. But the transactions are showing them as not paid even when there's a receipt added to the bill. Why is it doing this? How do I fix it. Am I posting in the wrong place? Should it be a journal entry instead?
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When someone pays by check, it's recorded manually. Then when the check is deposited (mobile deposit) another transaction is created, which is a duplicate. I know this is easy to deal with. I check off the 2 transactions & merge them. I cannot do this when the check that is deposited covers more than one invoice. Wave does not allow you to &qu…
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I've accidentally added the wrong account "Expense Reimbursement Clearing". I can't change it's name and can't remove it. Can you tell me how to do this?
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On my dashboard there is a cool graph that shows me my monthly income vs expenses and I currently manually input all invoices into a spreadsheet to compare monthly incomes and I was wondering if there was a way to export all my invoices to a csv file or something to help speed up this process?
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For proper accounting purposes, are the below steps correct to create a vehicle asset and associate it with a financing loan/note? * Create a new loan account under Accounting > Chart of Accounts > Liabilities & Credit Cards > Loan and Line of Credit called "Vehicle Loan" * Create a new asset account under Accounting > C…
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What is the best way to record business expenses paid from a personal account? I have an S-Corp and work from home so I attribute 7% of certain personal expenses to my business and track this via receipts in my business profile. I had created a "Personal" cash and bank account in the chart of accounts under my business profile but it a…
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I'd like to simply know how I can accurately record a sales transaction with California sales tax from Shopify payouts AFTER Shopify takes their cut (2.9% + $0.30) prior to depositing my funds?! Or put this way: By the time Shopify's payout reaches my bank, Shopify will have subtracted its fee where the deposit now no longer represents the origin…
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I'm new to wave and am trying to figure out how to a)categorize a tax payment or b)add a tax payment as a category. I've searched to forums and am not finding answers. Thank you in advance!
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Hi - I'm getting a bug in Wave where it doesn't properly account for a dividend payment in reconciliation. For some reason, Wave isn't showing the right Wave balance in one part of the screen but is showing the correct balance in another part of the screen. If I click or unclick anything in the table, the app updates, and then displays the corre…
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I'm not able to find any information regarding the printing of Accounts Payable checks. Does Wave Accounting support this? It's not useful to me if not since many of my vendors do not accept credit card payments.
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Looking at my Trial Balance I see the category for Sales Discounts under Income. When you click on Sales Discounts it takes you to the invoices that have discounts recorded. I have only two invoices so far and they show as $30 + $5 on each invoice for a total of $70. However, on the actual invoice I have entered it as a $25 discount on each, for a…
