Accounting Technical Support
Discussion List
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I often purchase stock photos for blog posts that I write on my site. Any idea what to categorize them under?
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Hi! Can anyone tell me how to record online purchases for my business - such as a purchase made on amazon? Since I don't have a receipt for this I don't have anything to upload to record this in my wave account. Thanks for your help!
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Hello, I have committed an accounting sin of electronically receiving business income into my personal checking. It was easier for the client as electronic transfer of funds was a hassle into my business account. I did diligently electronically transfer all of these income funds to my business checking. Now I am left to sort out the Wave accoun…
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I've been searching the forum and seeing some ways to get around this but they all look pretty confusing. I thought I might ask this. If I have one ABN (Australian Business Number) and two businesses that I earn money via, instead of creating 2 separate businesses where I cant share the bank accounts between, can I just have one business in Wave b…
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Hi, Can somebody help me to distinguish these 2 category ? They both sound the same to me to use when I take money out of the business. Which category to use when I draw $ out of the business?
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Hello, Is there a way to automate BILL NUMBER creation when creating new bills? Instead of adding the BILL NUMBER manually?
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Hey team! I've got two accounts importing transactions in to my account here. 1) Checking Account 2) Credit Card Account When a credit card payment processes, in my Accounting > Transactions tab in WAVE, I've got two transactions. one debit and one credit. I'm not sure how to properly classify, or if I should only have the Checking Account c…
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Hi All Can anyone help to clarify the category for the income tax paid for Sole Proprietor and LLC business in US Is it categorized as corporate tax in Profit and Loss ? Thank you
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i tried to split my withdrawal to 2 and more but at the final i cant save the transaction due to total amount cannot be change or not function. the error message was "The sum of the above lines should not exceed the total withdrawal amount of 0.00.
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And with 4-5 days to corporate tax deadline. I don't have time for this crap. $450 deposit transaction manually deleted. We've done this hundreds of times, and it doesn't matter if the item to be deleted was imported or entered manually, but this was imported (from a now disconnected bank account). Again, shouldn't matter.. deletion always = dele…
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We have an open ended billing account at one of our service providers. These are bills to us for payment. Charges continually added and periodically partial payments made, including advance payments (leaving a credit on our account). How do I record all of this in Wave? I’m thinking I should I record this as one bill in Wave and continually add li…
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I have a customer who has 30 days credit, he pays a round number when he makes a deposit. In other words the amount deposited not match an invoice amount. So when I upload my bank statement and want to categorize this expense in wave i.e.: payment for invoice sent in wave, it will not allow me to split the transaction unless it adds up to the …
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Hello, I am in the Netherlands and am a self employed sole trader. Whilst I cannot register my fuel costs on my private vehicle as an expense, I am allowed to claim back the sales tax on the fuel I use for business related travel. How would I do this? i.e. I want to be able to track the sales tax but NOT include the fuel bill as an expense. Any su…
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I spend a lot of manual time creating disbursement ledgers with attached receipts for my clients. The current workflow is to (1) create a Wave Report for Client Reimburseable Expenses, filtering by client, and exporting to CSV; (2) export all receipt jpgs from Settings>Export (as this exports ALL historic jpgs, the resulting zip is getting bigg…
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Hi, For reporting purposes I would like to have a category titled "Travel" that is then subdivided in the report into "Meals", "Transport" and "Lodging". Is this possible to do in Wave?
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Hi, On the Charts of Accounts page, I can add and edit accounts, but I haven't found a way to display all transactions belonging to a given account, e.g. Sales. Is there a way to select an account to view a list of all transactions of that account? All suggestions are highly welcome! Best regards, Stefan
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I have a transaction that was an owner loan (transfer from personal bank account to business). The transaction was pulled into WaveApps automatically with the account set as the business bank account. However, I am not sure how to categorize it. I do not believe the transaction should be considered income, but rather an asset. However if I choose …
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I've been using WAVE since Sept last year and love the ease of invoicing but am still have trouble getting things to balance as I still haven't nailed down all the sub accounts and where I should itemise each transaction etc. Anyway I need to submit my latest quarterly figures (Jan-March 2019) for my Business Activity Statement but am a little co…
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So, 7 August 2019 was the deadline for filing the first MTD VAT returns for those businesses that were UK VAT registered with taxable turnover above the UK VAT registration threshold. How many of you had to file under MTD? Did you use Wave's VAT100 report and then link this to suitable bridging software? What did you use and how did you get on? …MerlinAccounts_UK 122 views 0 comments 0 points Started by MerlinAccounts_UK September 3, 2019 12:38PM
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I am just beginning my business and have signed up for Wave. Prior to setting up Wave and my business bank account, I made some business purchases I want to include in profit and loss statements etc. What is the best way to do that? They were paid for using my personal bank account/debit card that aren't linked to Wave, but they were business expe…
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Hello, I have a friend who has a private school and wants to know the best way to code everything. What would things like books, texts, games, toys, sporting equipment come under? We have a Printing and Stationery Code which is fine and Materials & Supplies. There is also a consumables, what would we use consumables for? Maybe crayons, pape…
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I have a client that gave me a lump sum of petty cash to purchase items for a project. I deposited the cash into my main business bank account and used it for purchases. At the end of the job, I returned the leftover. What is the best way to account for this? The initial deposit isn't actually "income" and the purchases aren't actuall…
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I have a KPMG audited Final Year end closing balances as at 11 Feb 2019. The numbers involved a consolidation and some adjusting entries. My question is how can I show a Retained Income Balance of $27 602.62 as at 12 Feb 2019. I am happy with Assets and Liability balances as at 12 Feb 2019 on my Balance sheet. Other Equity balances are correct i.e…
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Good day, I'm new to Wave and need to enter all my slips from shopping for various items required for our 3 cottages that we rent out for holiday accommodation. At this point I won't be adding the bank account. Do I enter the slips under the shopping trolley icon, Receipts, or under the Accounting section?
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I've got multiple Wave and corresponding Stripe accounts. When I create an invoice for one business and it gets paid by customer through Wave/Stripe facility, the money ends up in another of my bank accounts, not the one that corresponds to the Wave/Stripe account that the invoice was created from. I can't seem to find anyway of finding where thi…
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Hi there, Recently my email receipts have been stuck processing on the desktop and app. They are also showing up with no details at $0.00. Please help!
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Hi team, I am about to start charging sales tax on invoices I send and recording tax paid in purchases. When I test this and create a report, the tax I have charged on invoices shows up, but the tax I have paid on purchases doesn't. I have searched through various accounts, but am unable to find out how to display sales tax that I have pa…
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Is it possible to generate a chart showing the total balance (for a specific account and/or total) over time? Similar to the Cash Flow or P&L charts on the Dashboard screen.
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Hello, wave says I have money in transit...well would be great but is not :smiley: wave is connected to stripe which is connected to my bank account, so all the transactions made with wave are successfully moved into my bank account. How can I solve this issue? thank you :)
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I uploaded all my receipts up until end of July of this year. not sure what happened but it put stuff everywhere. Is there an option to just put them as an expense for each month period to see it against my income. Like on the graph chart and such. I still run paper for everything but would like to switch to all digital. for some reason it double …
