Accounting Technical Support
Discussion List
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Hi, I'm trying to run a report and see how often/what the total income is for a specific service that I offer. Whenever I create an invoice, I specify the service provided (and I'm able to see the entry within products and services) but I want to run a year end report to see how often I provided that service and what part of my income it represent…
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One of my suppliers sometimes runs a "sale" on credit by granting a 10% bonus on the purchase of prepaid credits. So if 1000 is purchased my account with them will show 1100. Any thoughts on the best way to account for this? I understand how to account for prepaid expenses in general but the extra 10% is throwing me off. The only way I …
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Hi, I hope a kind soul can help as I'm struggling with this. Assume company A is a UK VAT registered company. Company B is a EU VAT registered company. I've read around the notes regarding "place of supply" from HMRC (https://www.gov.uk/guidance/vat-place-of-supply-of-services-notice-741) as well as from the EU (https://ec.europa.eu/ta…
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I’m a sole trader and wondering what way is best for me to categorise my personal expenses. Is it best to bill myself each week for my drawings. For instance add a bill and categorise it as my salary? :)
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Hi i'm still pretty new to accounting and there's a company I would like to close down/strike off. How should i go about closing down the accounts as the regulations requires me to zero out all my accounts?
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In old system, after entering Journal transaction details we used to delete Bank Transaction row. But I am not getting in new system for Journal transaction. Still I need delete bank transaction row or just keep it. If keep it, what category it belongs? Journal transaction Bank Transaction
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so, I've searched the community and can't find an answer. i tried. in the old dashboard/version I knew how to take a deposit that automatically downloaded from my checking account into the "Transactions" dashboard, split the transaction into two separate transactions so that the invoice was credited with the full payment while at the sam…
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The balance sheet shows the trade receivables upto PKR 360. When I check the invoices, all have been paid by cash. There should be no trade receivables according to the trade receivables account but balance sheet shows the different scenario.
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Hello All, We are currently evaluating different invoicing software. I really like waveapps and the options it allows me to use. However the Aged Receivables leaves a lot to be desired. I'm looking for a way to break it out by customer and invoice number. Not being able to see the specific invoice and the over due date is making it harder to use …
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See the picture attach. I have a partnership with a friend. We both have Owner Investments during the period of this report (3rd quarter 2019.) But her Owner Investments is not showed. If I click on either entry it goes to my (Brandon's) correct Owner Investment journal which shows: IDR2,050,000.00.
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I have a small profit from last year sitting in my checking account. I would like to transfer this to personal account. Is it necessary to make a journal entry? Can I just make an electronic transfer from business account to personal acct and categorize the transaction as owner’s equity so it is listed correctly on the reports? Thanks!
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A single member LLC owner with S Corp works in healthcare. He gets a W-2 from the his LLC. He works nights and weekends sometimes. If/when a coworker covers for him, assuming the LLC owner pays the coworker with a check from business account (he will have to issue a 1099 to the coworker), how would the payment be categorized? Would it be correct t…
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A single member/owner LLC pays for cobra Health insurance from business account. One month, premium was accidentally paid from personal account. How do I reimburse the owner? Is it correct to make an electronic transfer from business account to personal account and categorize the transaction in Wave as an expense for health insurance? Thanks!!
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This discussion was created from comments split from: [UK] Set up Wave to track VAT.
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Hi! Trying to determine why my profit loss report doesn’t include all of our income and expenses... it seems half of our total income isn’t on the report but it’s in our “sales”... I have the dates correct... suggestions?
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This may be in the wrong spot. But, is there a way to log donations made to a charity in Wave?
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I'm confused, or maybe stupid. Why are the numbers on my 'cash flow' so different to 'Profit and Loss' given I never enter my receipts or billings? The old version of Wave was so much easier to read, just 12 or 24 months of profit. Thanks for any help.
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I am fairly new to Wave and most of my accounting needs are fairly simple. I have read help articles about listing inventory as assets. I created categories on my Chart of Accounts, and created items in my products category under Products and Services under Sales. But that's as far as I can get. I am an artist, and I create custom artwork, prints…
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I recently sold my business vehicle and paid off the business loan with the proceeds. Previously, I had created a journal entry for a long-term asset for the vehicle and an account for the business loan under long-term liabilities. The vehicle was not fully depreciated. How should I categorized the revenue from the sale and the pay-off of the l…
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I'm confused. I'm bookkeeping for my husband's business. He owns it, it's under his login. He shared it with me to be his Admin. As he's going about business, he's uploading and forwarding receipts from his email. When I log in as me and go to the same business that he just uploaded to, the receipts aren't there for me to code. What I'm gathering …
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In my credit card statement, purchases made in a different currency than my own are represented like this: [VENDOR INFORMATION] 29.99 USD @ 1.353700000000 In Wave, they look like this: [VENDOR INFORMATION] 29.99 USD @ 1.xxxxxxxx0000 which isn't particularly helpful. I'm guessing the point of this is to obfuscate account numbers but it would be…
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It took me a lot longer to find this issue than it should have, but I am still not entirely sure how the numbers make sense. The issue was caused by a transaction being listed as a debit instead of a credit -- however, the amount shown as the difference is double that of the transaction. It's probably just the lack of coffee this morning, but sh…
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Is Wave suitable for used auto dealership? I am a new small dealer and want to know if there are other dealership successfully using wave?
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is it possible to sort the ledger according to bill & receipts date instead of payment date?
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Is it safe to say the best way to see actual business income generated is by looking at the "Cash Flow" report vs P&L mainly because P&L will add or subtract invoices that have yet to be paid while "Cash Flow" will only report invoices that have been reconciled? I have multiple invoices made for next year that I plan o…
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Is there a way to create a template for repeated transaction? For each sale I need to record the revenue, shipping income, payment fees, sale fees, and deposit. Then the shipping have its own entry. Also COGS. It's a lot entries for each sale and it would be great to have a template to copy from.
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Is there a button I'm not seeing to download a bank statement? I really like the reconcile feature but would like to download my bank statements.
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For some reason, Sales Taxes are not recognized when uploading a receipt and manually assigning the taxes does not compute them. If I manually check the box associated to the taxes they are set at 0 instead of computing them off the grand total. If I manually enter the sub total and check the sales taxes they are correctly computed. Am I missing s…LovaAndriamanjay 11 views 2 comments 0 points Most recent by LovaAndriamanjay December 19, 2019 5:11PM
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Hello, I opened a new business credit card in April that is linked to my checking account. Wave has created two separate accounts with identical transactions. The card is issued to only me - there are no other cards. Can someone explain this? I am assuming that it is creating one account for a user (me) and another account for all transactions a…
