Accounting Technical Support
Discussion List
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I always have a discrepancy of $700 in my accounts. My guess is that my very first transaction that debits $700 from my bank account is not tabulated. The funny thing is when I hit the “match” button, the amount changes across all my reconciliations. But when I reload the reconciliation again, the $700 is missing. How can I fix this?
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hello everyone. is there anyone able to create recurring journals? I have the same journals posting twice a month, and was wondering if there is away to copy the journals or save them as template so I don't have to enter all the details every time.
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I have set up a minimum transfer between my checking and savings accounts for the purpose of avoiding bank fees. These transfers show up on my transaction list and I don't know if I should just delete them. They register as uncategorized expenses.
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Hi I have multiple accounts to organize my budget, say: CAPEX, OPEX, FUN, SAVINGS Sometimes, I lack some money from one of the accounts so I have to lend it some amount from another account until I could arrange to pay it back to it. For example: I've been short of money for my OPEX, so I transfer $100 from CAPEX to OPEX while planning to find…
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I connected a BB&T credit card account and it was syncing fine. I categorized a lot of transactions and scanned a lot of receipts over couple months. When I logged on last week the connected account was set to off and all transactions and my work are gone. What could have caused previously synced and categorized transactions to disappear? Can …
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My wife is a midwife, and will occasionally have clients who want to pay a portion of their cost through bartering either goods or services. How do I set this up in Wave? In the United States.
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I primarily sell tickets online, which includes a GST component. Sales are completed on a ticketing platform, which provides invoices and funds are then paid to my bank. I cant figure out how to account for the GST collected on these sales as creating invoices in Wave for each sale duplicates the revenue. I want to create/journal a GST liability w…
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Hello: I'm a General Building Contractor. When I run a "Cash Flow" report, I find two lines: "Job Income", and "Sales", and I cannot tell how the respective entries are categorized.
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Is it possible to have my Transactions screen view be defaulted to "Not Reviewed" so I don't have to sort through transactions that have already been reviewed? I know I can change it with the filter but that requires more clicks...EVERY TIME! Thanks.
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What is the proper way to record a quarterly payment that I make to myself from my business? I make this payment by electronically transferring money from my business checking account to my personal savings account. My business checking account is linked to Wave so the withdrawal is automatically downloaded from my bank. My personal savings accoun…
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Hi, I have noticed a discrepancy between the Sales subject to Tax value shown in the Sales Tax report. I have the dates set the same for my reporting, July1 to Jun30th. My Income Statement and Income by Customer are correct. The Sales subject to tax doesn't match. I've tried to search down the discrepancy, but cannot find it. So, can you clarify h…
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My centre collects refundable deposit for each new student. It need to be itemised in the invoice. When I set up the item, it only allow me to tie the item to an Income account. The problem is, the deposit has to go to a Liability account as it must be refunded eventually. I can't seem to do that in Product set-up nor post directly to a liabili…
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I have made exactly what is in Cash and Bank, but in my profit and loss and balance sheet it is telling me my net profit is lower than what is in my bank, but i have nothing outstanding and no liabilities, debt or anything. I don't understand this, is this a bug? ,
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I am a customer in Trinidad and Tobago, and I enjoy the convenience of Wave Accounting. However, you do not offer the payroll option to us. Is there a suggestion as to how I can creatively ACCOUNT for that?
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One of my balance sheet account is not reporting correct. The amount is different from the balance. The amount in the report only take one transaction (first one) and ignores rest of the transaction. Is it a known issue? What to do? Bit lost here. I am new to wave so would appreciate some assistance asap. Thanks, Ranjit
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IS THERE A WAY TO EXPORT ALL TRANSACTIONS (SUCH AS HOW THEY APPEAR ON THE ATTACHED SCREENSHOT,) WITH ASSIGNED CATEGORIZATION? OF COURSE!! I TRIED TO EXPORT USING THE DATA EXPORT FEATURE BUT FOR SOME INEXPLICABLE (TYPICAL WAVE!) REASON IT DROPS ANY MERCHANT DETAIL, LEAVING ONLY CATEGORIZATION WITHOUT A VENDOR, SUPPLIER, PAY TO, OR MERCHANT NAME F…
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How do I categorize transfers between my corporations? * I have a holding corp and an operating corp * I have added both corps to my Wave account * OpCo dividends up to HoldCo * HoldCo transfers money back down to OpCo as needed for expenses. * For example, when OpCo gets a cell phone bill for $50, HoldCo transfers $50 to OpCo and then OpCo pays …
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Hi Hope you are doing well. I have an issue that I have created an invoice to the client and once the payment received it shows the Taxes deducted from the Invoice total amount and when I entered the payment received it still shows the taxes amount remaining to the client. Lets say I have created an invoice for $100 with 17% S.Tax. total is $117…
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My credit card closes on the 3rd of the month. So, for instance, a January cycle closes Feb 3. I can't change the closing date to Feb in the reconciliation window. What should I do? https://screencast.com/t/qAxhNWwn
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Good evening. I'm sorry if this has been asked before but I tried to search with no luck. I am adding some accounts to Wave and several of these have a negative balance, for example, a loan account has a balance of -£1402 and I'd like to track my repayments and the balance over time. How can I add this account so it shows as a liability? I have a…
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Hello there, I am not sure under which heading to post this message so please feel free to move it if it is incorrect. I've started adding bills to my wave account, a great feature! However for bills where payments have been made, there seems to be no way to connect the bill to the transaction. I've tried 'create bill payment' from the drop dow…
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Hi all, I recorded an invoice, say $100, but the actual fund i received in bank is $90, $10 being bank charges. The problem is, after i applied the $90 in bank, there are $10 left outstanding in the invoice module, how do i record the $10 to bank charges from that particular debtor account to clear the balance? I tried doing a journal entry but …
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Hi, i've had a letter through from the administrators of a company who have a few outstanding invoice with me. Chances are I won't get paid for these invoices, How do i show this in wave?
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Hello everyone and thanks in advance for reading. Should I scan receipts which I know to come through my bank connection? It's nice to have the image but seem to come at the cost of manually finding them in transactions, clicking both, then clicking merge. Is this what folks are doing? Thank John
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Hi Everyone! New to the community so thanks for anyone's feedback it's greatly appreciated :wink: Quick question: I'm kind of in a bind when it comes to where I should allocate transfers from my business to personal account. I don't pay myself a salary but I periodically transfer monies from either account (vice versa). I'm using the "tra…
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This question was asked tangentially here: https://community.waveapps.com/discussion/82/adding-a-new-account-to-the-chart-of-account but it was not answered because the OP apparently had read-only access. Can someone assist: can I create a new account TYPE and how do I do it? I do have full read-write access to my account. Thanks all for any …
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Hey there everyone, I was wondering if someone could detail how I go about adding a new payment account. I just recently received a credit card for my business and I wanted to add that account, as well as my company's checking account. Just to be clear, this is specifically for when I'm entering receipts. I want to be able to categorize which ac…
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I am trying to manually add in some bills for design work I had done for my physical product business. However, when I got to "add bill" and begin to fill out the information, the preset "Expense Categories" in Wave are lacking. It should be simple for me to create my own category that better describes the expense, and yet, I'm…
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Good day, I'm struggling to get my financial year from last year, it keeps adding the previous years as well.
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Hello, does anyone know why this account was created with payroll expenses on it? My business checking account is connected with Automatic Tax Payments & it uses the money from that bank account, I do not understand why it would create another account for cash transactions. The company does not even accept cash. I see similar transactions und…
