Accounting Technical Support
Discussion List
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Can someone explain how to enter a receipt without needing to upload a picture? I want to enter small purchases but a receipt is not always necessary or given. Thank you!
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How do I categorize cattle that are bought to be resold later for a profit as opposed to cattle purchased to keep to reproduce? Also how do I categorize grain that has been harvested but not sold? I would assume stock on hand but with what price would I associate to it since the price is dependent on the current market price when sold?
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This is my first year of a new business and I have not set up a business banking account; however, I do have business expenses that I have categorized in my personal books. I do not have any income to report. This is just information for my balance sheet. As of January 1, I'll be doing all those transactions in a separate business banking account…
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This differs from a bad invoice, however, I have harvested a crop that can be sold, but then it is lost as a casualty of weather. What is the best way to transact this loss? Should I create an invoice or income entry for what would have been realized, and then offset by withdrawing to a new expense account such as (Crop Casualty Loss)? My e…
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Later this year, you will see some changes in Wave due to the upcoming Open Banking regulations coming into force in the UK & EU. You can find our FAQ regarding these changes below. We have also updated our stance on supporting Making Tax Digital in the UK. You can find more information here. If you have any other questions, please let us kno…
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When we input multiple invoice payment through transaction=>add income, the invoices gets updated but the cash flow does not update accordingly, and if I make any edit from the transaction the invoice I edited is updated but other invoices in the same transaction is getting a second entry, and all the other invoice is showing paid double or tri…
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I am a club treasurer and have just started using Wave to handle the club accounts. However I find that the system has created a Chart of Accounts in which 70% of the Categories are totally irrelevant to my needs. How do I delete them? Alternatively how to I create a Wave account with a blank CofA so that I can set it up as I need? Thanks
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Any tips on the best way to do this for? I tried adding it as a bonus to my salary but could not figure out the journal entry to do this properly.
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Hi I need to send an email to my clients' who are all in my Wave created database. How can I export all the addresses so that I can put them as recipients in a mail on my mac? Thank you
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Hi there, I bought some furniture so as I input this bill under purchases, I come to the Expense Category and the only two options that pop up under Assets is Accounts Receivable and Loan to Directors. I created Fixed assets on the Chart of accounts but its not reflected here. Please advise.
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Hi! I'm new to accounting and Wave, so learning something new every day! I currently have Zapier set up to automatically bring in my Square sales and I split these into two categories: sales and payment processing fees. I also have my checking account linked, so when Square pays out money to it, those deposits are currently uncategorized. How sh…
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Is there a way to track a specific product or service, beyond the general income account they're categorized in? For example, I rent various different products to my customers and each one of those products is categorized into my "Rental Income" income account. I want to be able to see specifically how much income rental product A has ge…
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Is there a financial year roll over from month 24 to month 25 or must you recreate all your invoices and chart of accounts in the accounting package?
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Hi, when making a transfer to credit card to pay off the balance from a purchase the Cash Flow report adds this transfer to the total amount purchased, In effect Its recording the initial purchase to the credit card and then again when I do a transfer to pay off the credit card. (This is on the cash flow report using the Google Sheets API) Can any…
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Hi, A client of mine has paid for one invoice with two separate payments. I have found lots of support for handling one payment for multiple invoices, but not the other way around. Can anyone tell me how to deal with this in Transactions please? Many thanks!
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Can nonprofits use wave for business? I see no option to select nonprofit. I like Wave and the current platform, but is this a good fit for my small nonprofit. We are starting to get donations and grants in. We are going to hire people, we want to make sure we can use it just as a for profit does.
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Would anyone know why my debit transactions would show in the credit column and vise versa after uploading my bank statements? I went to reconcile, one month reconciled, but the transactions were in the wrong column. Is there any way to address this? I even tried to edit the transactions, but in the edit box they are showing up correctly as a Depo…
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So I have a biz Amex Blue card that I use to purchase items for the company. When the bill is due I use the company checking account. And that is simple enough. My question is when I create a Bill for a book that I bought and used the Amex card to pay for that item. How do I record the Bill paid? If I use my checking account it will show as a doub…
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I followed the steps to account for mileage as a journal entry credited to my Owner's Equity account. Now I want to withdraw money from my business checking to reimburse myself for my mileage. How do I record this? Thanks.
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I notice that expense categories are pre populated and, unlike item just before it, I can't see how I can add different category names. Is it possible?
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I connected my TD bank account to Wave, and all the transactions came up. The first transaction is the starting balance, in which Wave says I have $700 there. But, when I first opened my bank account, I only deposited $350, and then $200 a week later, so why does $700 randomly appear on my starting balance?
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Can I confirm what I believe to be the case for the current version of Wave Accounts. Whilst you can have multiple companies there is no direct API between them ie you cannot transfer by a single step from one to the other company? You can no longer have multiple bank accounts - all statement imports are into the one transaction set?
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Hi, I am struggling to reconcile the Sales Subject to Tax. I am using cash and cash equivalent reporting. I add up the invoices in the quarter I am looking at, which shows sales amount paid (let's call that $x). I thought this was the amount that made up the sales subject to tax figure, but no. I have a difference. After some searching i have foun…
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Hi, can you pls tell me how to check the ledger/short term asset which have zero balance. Loan given to some one and taken back also in the same month. so if we go in report section, that ledger name itself doesn't show because it has zero balance. can you pls tell me how to check all the ledger which has zero balance.
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Hi all, I don't know if this is doable without some manual effort, but I'm throwing it out there to see if anyone has run into the same situation. I do the bookkeeping for a small non-profit, which is eligible to claim a 50% GST rebate for most GST paid on purchases. But it does not 'sell' anything so does not collect any GST on sales (and there…
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Hi, I need to transfer currency from one account in CCC to another account in my base currency AAA. This transfer involves banking fees from the sending bank and potentially foreign currency gains/losses. I am not sure how to properly reflect/record these movements in my Wave accounting platform. I will try to make my case as generic as possible…
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Hello there, I would like to do a transaction between 2 different currencies. I have created accounts in Euro and in another currency. How can I do that?
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How do I categorize money put in the business by all partners? Can I create an Owner Equity/Drawing account for each partner so I can keep track of each partner's share in the business?
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I have 3 businesses that use the same credit card. Is there a way to track how much each business owes the card? How do I set that up? It is paid back by reimbursements from each company as it is a personal card.
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Hey Guys, I uploaded my bank statement for the whole year till now. To have all the data. Now I recognized, that my Bank (Holvi) has a bug in their Excel export - wrong Dates for the transactions! Thats bad! Is there a possibility to revise/undo the last imported statement or filter them in any possible way so I can delete these transactions man…
