Accounting Technical Support
Discussion List
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Before upgrading, I can print out the foreign exchange report but now after upgrade I could not find the report, any idea how?
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Hello, i buy and sell heavy equipment, sometimes i buy on my own, sometimes we partner 50/50 with friend. when i make a purchase i post it as inventory under assets, since its not expense. how do i go about posting the 50% i receive for the partnership on the machine? also currently I'm posting expenses done on machines as cost of goods sold unde…
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Hi I'm looking for some advice on how to allocate the purchase of assets e.g PPE within the transactions. So, I have uploaded my bank statement and I'm now going through each transaction to allocate the income / expenditure. I have various payments to my solicitor regarding the purchase of a property, however I'm not sure how to categorise this as…
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I am using Wave in Switzerland. I created an invoice, the sales price includes the 7.7% VAT. I do not manage to have the VAT shown at 7.7% of that total amount . Concretely a sales price of 300 CHF, should show a VAT amount of 21.45 CHF, and a pre-VAT price of 278.55 CHF. How do I need to declare the sales tax to achieve that? I have the same que…
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STEPS to reproduce: * Record a full payment to a bill from this page: https://accounting.waveapps.com/bills/.../ * Open the bill and it will show two payments. https://accounting.waveapps.com/bills/..../edit/.../ * This happened twice in two days, but does not happen every time. I suspect, that your background processing does not handle pac…
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Hi there! I am facing the issue when I click Report > Balance Sheet > a Trust Account, the "Account Transactions" page pop up. The balance sheet amount doesn't equal to the ledger amount. I have pinpoint it to the 1 particular transaction that wasn't portrayed in the balance sheet. I have tried re-create the transaction, but th…
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Hello: I operate a VoIP telephone company in the US. Here, in addition to the traditional sales tax, I must also collect a $0.95/line tax. This amount is not connected in any way to the amount the customer spends on service, and should appear as a separate line item on their invoice. Presently, I have a separate billing system doing the invoic…
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Hi! I have been having some troubles to reconcile my accounts. I just realised that the credit and debit columns have been switched and that's why my reconciliation is so off! Can someone please help me to switch these columns back around again. Thank you!
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When I record a payment for an invoice, I have a choice of payment type, i.e. Cash, Check, etc. Is there any way to report on the payment type? In other words, can I get a report of all customer payments that were made in cash or one of the other payment methods?
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We recently acquired two credit cards for our business. A couple days ago, I noticed that the credit card balance wasn't correct in Wave. The reason was that only one card was set up to import. I changed the setting of the other one to import and then updated the bank account on the dashboard. After I did that, it caused several errors. * Before …
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Hi all, Im new to Wave, but getting there, one issue I have is how to account for Volunteers Out Of Pocket expenses. So we run a small charity that has no staff and no payroll but the volunteers are entitled to claim back from the Charity, Mileage, parking, subsistence, rail, hotels costs etc when on charity business. Question is how should I ac…
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So currently we use an old version (2011) of QB. I want to add the ability to email an invoice and get paid quicker... So I thought Wave might be the answer. Now I'm looking and I'm feeling like I'm taking a step backward from the 2011 QB?! :neutral: We are a screen printing, embroidery, signs, and promotional shop. We do various methods of e…
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In balance sheet in reports, I see non recoverable tax showing as negative liability for a purchase where in actual it is non recoverable thus shall not show up as credit in liability.
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Trialling Wave I am trying to establish the most efficient workflow for working with my bank transactions and invoices. My clients make recurring payments by standing order. I can check through my transactions and allocate them to the customer but the invoices seem totally separate. After reconciling my bank transactions it seems I then have to …
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I have tried multiple times this week to download my SVB credit card statements and I keep getting " Oops, something isn't right...Currency was not found in database". Tried all file types for download - always same reply. Downloading SVB bank statements is not a problem. Anyone come across this, solutions? Thanks
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Hi there! I can't reconcile my statements. All the transactions are in there and correct, however it is not showing in "verified balance" even though they are verified. I saw previous posts about changing time zone. I have done that, changed to EST. Not sure how to fix this. Extremely frustrating and time consuming. !
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Hi. I am kinda new to wave. May i know how to enter a starting balance for capital account?
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I am looking for an alternative to Quickbooks online. I have very basic needs for income and expenses tracking for a professional office. I'd like to be able to split expenses by classes. Only Quickbooks Online Plus offers this capability. At $70 per month this is overkill. Does Wave have the ability to split transactions across multiple classes?
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I created bills and then I added the payments. All of my bills are paid and updated for the month of September For some reason it doesn't show up as paid in my Purchase by vendor? Not sure what I am doing wrong?
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I'm trying to understand the best way to record transactions. My company gets paid commission for vacations sold (Carnival, RC, Viking, etc) from that a % goes to my Independent Contractor that booked the vacation. I don't want to create more work for myself than I have to but I need to understand how much $ I have going out - even in the future…
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my P&L reports figures are inaccurate as some of the paid bill are missing on the cost of sales. Kindly assist.
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Hi, Can anyone help with adding a loan amount into wave. Also, I need to record when a payment is made toward the loan balance. Please Thanks
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Hello! In 2016, there were a few bills that were only partially paid by the company I work for. For exemple, the bill would be of 620$ and only paid 600$ (why? I don't know). The vendor never asked for the rest of the payment. These bills are marked as unpaid and they still appear in the "Aged payables". Obviously, 2016 is a close…
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As you are no longer supporting automatic bank statement upload in the UK i am trying for the first time to import manually. Unfortunately, every time i try, the upload fails with the message: "Wave is having difficulty reading the dates of your transactions. Learn more" It doesn't take me to the CSV import page. The learn more link …
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Can you please clarify how to add investments done by multiple partners in a business. I am having to write the name of the partner in description field at the moment but this would become cumbersome when trying to reconcile at the end of the year. I searched but I am not able to see any option where I can set that a particular investment was done…
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Hi all, I'm new to wave and trying to figure out how to clean previous transactions and accounts in bulk. Then I need to start over again importing all the transactions in a right way.
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Currently I am in the process of reviewing and correcting past expenses for my LLC which recently is migrating to being a partnership. The expenses were created in wave via uploaded receipts and the category set appropriately. The account (to keep track of what I owed myself) was set to Owners Investment / Drawings. The issue I now face is that …
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I started using this app in June'2019 and in initial days i was just playing around and understanding. Initially my new company company bank accounts were being setup so entered the amounts to cash in hand account instead of my bank account. one of the entery of $39 was marked as reconciled on June 30th but later i moved all entries of Cash in han…
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I do not invoice in Wave so I didn't set up three kinds of sales taxes I collect and pay. My sales tax liability numbers come from my POS and I currently do not enter them until they show up in the bank feed transactions after they are paid. I categorize them as Sales Tax which is liability account and so they do not show in P&L without anothe…
