Accounting Technical Support
Discussion List
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I have imported my CVS bank statement into WAVE and I have experienced an issue with transactions that happened in the same day. The transaction chronological order is wrong. Ex. I made my first deposit into the account x date, and that very same day I have made a few purchases on my debit card. The purchases come up before the deposit. Besides t…
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I made a mess of the chart of accounts when I set up Wave a year ago. I now have a balance sheet that doesn't make sense, and I would like to start with fresh balances for 2022. At this time, I would like to make sure my transactions are entered accurately, and work on fixing the account settings. The idea is to be able to export the numbers to o…
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Hi All - I need help fixing two issues from when I first started my business and did not have a bus checking account yet. 1) I import my business credit card into wave. My first 3 bus credit card statements I accidentily paid from my personal checking account and not my business checking account that is connected to Wave. I transfered as a lump …
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Hi. I purchased inventory items using a credit account; however, the money was refunded back to the same account without ever receiving the inventory items. The purchase transaction is categorized under Inventory assets. My question is: how do I categorize the refund itself so that it negates the original inventory purchase? One of the existing op…
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I can no longer save my journal transactions. I click the save button and nothing happens. I've canceled the entry and tried to re-enter and same result. What do I do?
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New S corp started paying business expenses on personal credit card with personal funds for a short time until the business starting having income. Booked these as shareholder loan with the corresponding expense. a handful of personal expenses ended up being charged on the business credit card accidentally. can these offset the shareholder loan?
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Hello, I have input all transactions for three accounts over the last three months however, cannot work out how to enter the starting balance so that it shows within the reports produced. Please would you help?
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Hello! The Balance Sheet that I generate in Wave is not balancing, and my TB does not balance with the same amount (yet the system is based on double-entry). What could be the reason?
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Is there a way to change my transaction description feed back to how it was? Simple without the extra ID and tracing info. It now shows "ORIG CO NAME" plus a bunch of codes on several descriptions. It's on CC transactions, insurance payments, payroll, Wave payments, etc. It also does not show the transaction amount when I select my cat…
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Hello, I have sent clients 3 invoices, and the client paid all together with one payment. Now in my Wave transaction records, I have: * 3 invoice paid records * 1 bank transaction record The repeated numbers doubled the amount, and I am not able to merge them together. How should I do in this case? (if I want to link invoice record to the bank…
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Is there a way to zero out the income and expense balances and split them in equity between multiple partners? Or will I always have a running total in income and expense?
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I have 3 separate business legs that all fall under the same parent company. Based on guidance from my business lawyer, he said that funds from Business C could be moved to Business A for expenses. At tax time, these businesses will all be considered as 1 Company. How do I create the transaction in Business C to show that the funds were moved to…
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I have been researching how to properly account for a rental property mortgage, and believe I'm close to understanding it all. So far, I understand what to do for the following: 1. recording the property as an asset 2. accounting for the the purchase price, down payment & loan starting balance 3. accounting for the escrow held by the mortgage…
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Hi - my bank is small enough that it isn't "in-network" but I am able to export to .qbo and .qfx formats. Problem is, when I try to upload either one to Wave, I get an error: "We've encountered an unexpected error. Error Code 500" (see image below) Anyone else encountering this error - I saw some posts from last year where use…
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Wave keeps giving me the error that my dates are wrong, even when I changed them in my CSV file. Now what? I have tried everything. This is not a good use of my time.
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With the clock rollover to 2022, all my 2019 data disappeared from Wave. Is this on purpose or an accident? I cannot find anything that states that only 2 years of data is kept.
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how can I record 2019 k-1 ordinary business income (about 50K) that has not been disbursed in 2020 accounting? I plan to disburse this money in 2021. The company is a single partner LLC operating as an S corp.
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Hello, i have multiple transactions coming over from my bank and credit card listed as income. these are clearly charges and i have yet to find a way to switch it from an income to an expense,,,this used to be very easy to do. You guys are making this program less user friendly. if there is not a simple sustainable fix for this i am afraid i wi…
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Multiple folks are reporting that their new JP Morgan credit card is showing charges as income instead of expenses. This is only affecting NEW cards - existing cards are unaffected. Please see additional folks reporting on this older thread: https://community.waveapps.com/discussion/comment/49139#Comment_49139
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I have two transactions that were from paid invoices that are showing up in the wrong account on the profit and loss statement. I have double-checked the item in the products and services entry to be sure it is assigned to the correct account. I double-checked the invoices to make they were entered correctly. I double-checked the payment to be sur…
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My Sales report is not recognizing zero rated expenses in one company. In another company it is showing up. What is going on
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I'm trying to add a journal entry that would record an exchange from my USD account into my CAD account. Both accounts belong to me and when I try to add it as a journal entry I have a difference due to the exchange rate, and therefore cannot save the journal entry. The USD account on Wave is marked as USD while another one is a CAD, regular bank …
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I'm looking to switch from Quickbooks to Wave. I need to be able to track time and expenses on a project/client basis. Can I do this in Wave? If not, do people have recommendations for a free tool (either online, or Mac-compatible desktop)?
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Anyone knows? Thank you!
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I cannot seem get some of my Journal entries into Sales report. Is there a way to reflect them into the sales report. It is required for VAT Accounting.
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Sorry for the long intro, but it may be needed to fully understand the depth of the intertwined accounts. I'm a sole proprietor in the US. I initially opened a Wave account in 8/20 to create invoices and help organize expenses for taxes for a job in which I'm considered an independent contractor (Company A). I also receive paychecks as a part-time…
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How to do process a partial refund of a purchase. I would also need the VAT refund to be reflected in the account. At The moment I am only using a Journal entry but cannot make it to reflect it in account books.
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How to split a bill payment when it relates to two invoices?
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Can you help me to check my trial balance due to auditor found not balance
