Accounting Technical Support
Discussion List
-
I am just converting my hobby of raising honey bees into a business. So I need to know how to classify purchases I have made for bees and the actual hives themselves. From live bees, to the wooden boxes what type of accounts do I put them in? The Wooden ware has a life expectancy of 20 years so would need to depreciate it. Bees, 1 year...
-
Hi, I hope this question fits the thread. I am struggling to figure out how to make a payment from CASH ON HAND to a BANK ACCOUNT. For context, I used money from CASH ON HAND to deposit money in the account when I opened it, so this is what I need to reflect on the transaction list on the app. Requesting some kind help :) Thanks
-
Hi I have just joined the website as we have started a very small new construction business A lot more complicated than I thought 1) I have put all the bank transactions into Wave ( and it balances ), included 20% VAT but on the VAT return the figures are allzero 2) I have entered an expenses claim for stock purchased and paid it b…
-
A Payments By Wave Account holds an amount from six months ago that has cleared:
-
Hi all! I thought I would have found this topic in the archives but my search didn't turn up anything that helped. I have a C-Corp w/ an S-Corp tax designation that received a Federal Tax Refund from the IRS for last year. I'm doing the 2019 Acct Recs and I'm not sure how to treat it. I was going to create a new account with just that title &quo…
-
In my Waveapps accounting, there are 2 transactions to categorize for the 1 cent verification charge that occurs when one signs up for a Stripe account. .01 out of my checking .01 into my checking I tried to categorize this as "Merchant account fees" and was able to do this for the debit. But then when I went to categorize the credit u…
-
Hello! I am having trouble understanding how to handle repayments for expenses paid by Shareholders before forming the company and I am afraid that I may have already made some mistakes. This is what I've done so far. In chart of accounts, I've created the following accounts: * Under Liabilities & Credit Cards / Due to You and Other Business…
-
Is it possible to automatically send an invoice to more than 1 email address without having to manually enter in the 2nd, 3rd, etc email addresses with each invoice?
-
Well, now that Wave has further complicated things, (hasn't anyone other than me heard the old adage (if it ain't broke, don't f*** with it !!!) I immediately ran into a problem with transfers between my chequing account and my credit card account. My credit card balance is automatically paid via my checking account. These transactions get …
-
Hi Folks... I'm new to using Wave and have figured everything out but one thing: where in the world do I log professional development courses that I have purchased to grow my own skills? I've created a category for it so it can be posted correctly, but I'm not sure if I would enter it under Purchases-"Receipts" or Purchases-"Product…
-
I have a company that has 4 owners. I have set up the 4 Owner's Investment and Draw accounts for each owner to properly track investments and draws, but I'm hesitant to set up Retained Earnings into 4 accounts if the profits will not automatically be allocated to each owner account. Will I have to do a journal entry at the end of the year move pro…
-
Hello i cannot delete or save my edited transactions. It says “error in saving”
-
Hi, I set up wave accounting for expenses and had- one personal section for my NHS work and another TEP for my coaching business all on the same wave registered account/email address. I later set up for invoices for the same TEP business. All fine and helped with tax return. This year I had thought it would be super easy - I have been forwarding a…
-
I normally receive deposits for projects that are then applied to last invoice of a job. I like to show this on an invoice. I also receive money for purchases on behalf of clients. I then pay or pay a deposit to a vendor. I do not think I am doing this correctly in wave.
-
I needed to pay a bill in cash and took a cash advance from my credit card, I then used that money to pay the bill. My question is how was I to enter this? The cash advance comes from my credit card. Do I put this into cash on hand? And then somehow pay the bill from cash on hand? This is messing up my reconciliation. Any advice is apprecia…
-
I have a client who has moved to the US and has requested that I now invoice her in USD. My business currency is set at SGD and I have Stripe integration set up for payments, Is it just a matter of me just changing the currency to USD when I invoice her and she still pays via Stripe?
-
Hi Wave Accounting Experts and Wave Community! I loaded my client's bank statements and typically it doesn't result in any errors but I noticed that my trial balance is consistently off by $25 past Sept 6, 2019. I have double checked my side and don't think there are any data issues. Can someone please let me know what is wrong? Many thanks, Har…
-
The link in the email you sent me does not work. I need webinars and I need customer support. I have sent and do not get any response.
-
I have set up my sales tax completely wrong and I need to start from scratch. I am thinking of deleting my sales taxes adding new ones and going through each transaction to apply the correct one. Is this the best way to do this?
-
I want to fetch the ledger of the entity. We are selling this entity and buying from the same. I need purchase and sell transactions in same ledger.
-
I have a 3 member LLC with members A, B, and C. I renamed the Owner's Investment / Drawings account to A's Investment and added equity accounts B's Investment / Drawings and C's Investment / Drawings. Initially all 3 members contributed capital worth $150k/each. A contributed property worth $150k; B and C each contributed $150k cash. That $300k c…
-
Hi there, I've bank account and the amount in 31 December 2019 is different between balance sheet and account transaction. Is it a bug?
-
My accounting needs are incredibly simple. I'm a dog groomer, and I track my income in only two categories: sales and tips. Every week when I pay myself, I need to see my total sales and total tips for that week. I currently use QB, and in that I use the sales by product/service report. I know Wave does not currently have such a report, so I'm won…
-
I need to transfer the accounting of a small business from Simply Accounting to Wave. Can I transfer the accounts from the Trial Balance at end of year in Simply Accounting to a new Chart of Accounts in Wave, then what do I do? Thanks.
-
Hello, I'm having some issues with reimbursements via an invoice. I'm having issues understanding what category in my cc transaction page to place my reimbursement expenses in. I created the invoice on Wave. When I click the cc's transaction categories there are 2 options that seem to make sense but I'm not sure how they differ - 1. Refund Sent f…
-
Hi, I accidentally added my personal bank account to my Business profile. I was able to archive that account but I would like to completely remove it as I have already added to my Personal profile. Any help would be appreciate it. Samuel.
-
I mainly sell products that I make on one specific website and they pay monthly. When they pay they deduct their fees automatically. For example, I may have sold $8000 worth of product for one month but their expenses (percentage of products sold) would be $1000. So they actually send me $7000 instead of $8000. The issue is I need to document thi…
-
After running a P&L report to hand to my accountant, I noticed that I had a Uncategorized Income that was inflating my overall income. I clicked on it to see what was going on and found that all the transactions it thought was income were actually payments I made to my credit card. First question .... Why would payments appear as income? Aft…
-
I have not been able to make new categories that fit our needs. We have linked banking to all our accounts, but not finding it possible to make the necessary categories for each. Is this possible with Wave? Any suggestions? Thank you.
-
Hello, I am new here and to Wave, I am in the process of setting up our Chart of Accounts but need to track 2 separate entities. Here is the background, I am managing 2 Furnished Corporate rental suites, each suite is owned by a separate entity which I will need to have a separate PNL and Balance Sheet for. What would be the best way to manage …
