Accounting Technical Support
Discussion List
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Hi started using Wave for my new office. I make a record of purchases by creating bills from a vendor, the payments for these multiple bills are made only at the end of the month through a single bank transaction. Could you assist to record payment of multiple bills using single transaction in Wave? In short - how to record Multiple bills paid i…
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Hi All. I have a small jewelry business. I'm trying to use Wave just for making Profit-Loss statement (not to generate invoice) I mostly have following accounts * Sales (I add one total figure after every month) * Inventory (Total cost to buy goods from my dealers) * Shipping cost (Cost to bring good from dealer to my home country) * Additiona…
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Hi, I having problem in reconciliation foreign currency bank account. i.e. USD Bank account & SGD Bank Charges Expense account. Reconciliation will show Statement Balance & Wave Balance aren't tally. Therefore I cannot reconcile my USD bank account. Kindly help on my issue. Thank you
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In the old interface I used to be able to move transactions from one business to another. I can't figure out how to do the same thing in the new interface. Does anyone know how to accomplish this? Thanks in advance.
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Can someone please provide the proper process to add PayPay Payment and fees transferred from Bank to a Wave invoice? I am still learning how to book keep. Sales are my thing, not accounting! If I do something wrong, I won't know how to dig myself out of the hole! It would be so much easier if Wave accepted PayPal, then I wouldn't have to bill sep…
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When renting property, we charge a rental deposit which is held until the tenant leaves which could be 6 months of 3 years later. I assume this should be handled as a long-term liability since the deposit will (possibly) be held beyond the current tax year. * Please can someone show me (with screenshots ideally please) how to record this * In th…
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The list of transaction categories for filing is very limited. I need one for legal, and there is nowhere to add one.
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I've created an account for inventory, and no longer need it. Any idea how I can remove it please?
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Hi! My bank account is linked to my Wave account and everything looks accurate except for one deposit that was made in the first week of January, which doesn't show up in Wave. How do I fix this issue? Thanks!
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Hi, sorry for my English, Before Know Wave, I have some Credit Cards, I used for the business and I start to used Wave but I don't know How to insert the amount I own in each credit card, I know I can insert the credit card into Credit Card & Liabilities, but what about the amount? how I tell Wave the amount I owe to each credit card, thank yo…
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Similar to multiple categorization, is there a way to bulk move transactions for example a wireless payment to business without having to select each and every single item to move it? It is painstakingly long to select each item then move to business.
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When I first setup my accounts in Wave I entered the incorrect starting balance. I found that the balance was incorrect when I could no reconcile the account. How can I change the starting balance please?
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Hi I have one bank account for several small businesses. I used to be able to move transactions between businesses using the move function but I cannot see this in the new transaction view. Also I sometimes pay for a business expense out of my personal account and again I would need to move from personal to on of my business. This change is making…
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I have two accounts - a trust account and an operating account. When I process credit card payments, they go through the operating account and then are transferred to the trust account. These payments are NOT income until I remove them from the trust account when they are earned, which occurs later on . My questions are as follows: 1) How should…
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Can anyone suggest how I might apportion expenses like utilities, phone, rent etc recorded in our personal accounts across to my wife's and my business accounts for tax purposes? Example, $100 in utilities category in personal account, transfer $33 to utilities category in my business acount and $33 to utilities category in my wife's business acc…
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I have received a single payment in my USD PayPal account for two invoices prepared in Wave in USD. The transaction has been imported into Wave from PayPal, but the option to apply it to an invoice is not available when selecting the category drop-down menu within the transactions page. My default business currency is CND. Is there some kind of wo…
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Hi, Somebody know how to do this in Wave App? I can't find a way to create account under account, so that my end report could be much simpler, but i could still see details when I want. For example, in utilities account, I want to create under this account other accounts like electricity, gas, water. Or like taxes account, there are city taxes, s…
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My cash physical cash balance is the same as my verified balance, however the balance in the trial balance is way less. I can seem to reconcile the difference as its the first time I am experiencing such a discrepancy. Thanks for the help in advance.
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Can you please explain how can i allocate the remaining bill payment to a certain customer ?
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I would like some clarification as to how Receipts are used. A Scout parent purchased some items and I would like to see that he gets reimbursed for this. I have the receipt, but the only thing I can think of doing is creating a vendor bill with that Parent's name. Please let me know the best way to handle this.
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I have a chase business card with 4 individual employees accounts. Wave uploads the same random transactions 2-3 times for each of the users. I saw there was an issue with duplicating transactions that was marked resolved in January. Well, it's February 17th and it's still there.
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Hello, I have a small company which deals with property rentals etc. The company is renting office space in one of their own properties. The company needs to essentially bill itself for $250 per month and then pay that same about. The paper trail is important so I am looking suggestions on the best method of accomplishing this. I currently creat…
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Let's say I create an invoice using products that have a price added to them. The invoice is paid by the customer. When I run a PL report, the products inside the invoice are showing up under "sales" and the invoice paid amount is showing up under the income category, therefore, showing the income x2! Am I doing something wrong here? How…
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I've just moved over from QBO and have a balance on my existing business credit card. How do I categorize this liability?
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Hi How to I generate a monthly income report with two specific parameters?
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Hi, I use Wave to manage a small business. Up to this point I have just used it to record and manage entries from a business checking account, but I recently inherited a property, which I have transferred to the business as a rental property. I've been experimenting with Journal Entries, but I must be doing something wrong... Here are the detai…
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Why do all transactions automatically get added to your business? Most other accounting software doesn't add them until you review/verify. This is pretty unfortunate when your bank accounts aren't 100% dedicated to the business, or when you need a bit of time to run a transaction by your accountant. It's hard to get a snapshot of your business if…
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Hi guys Help on this one if possible! Sales Tax owed in Wave $153.95 In the real world - Sales Tax with Tax Office $154 Penalty with Tax Office $210 Credit with Tax Office $460 Balance with Tax Office $96 Sales Tax refunded to bank account in Wave $96 Questions - 1. How do I balance out the $153.95 correctly calculated by Wave with the $96 …
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Hello all, I hope that this in the correct section. I had a PayPal working Capital loan from July 18-December 18', that was paid off. A % of sales were taken from my PayPal account automatically. I have the loan set up in my Chart of Accounts, It seems like it is backwards as it is showing a negative balance. I did read the article from a goog…ScorpionCoatingPlus 191 views 3 comments 0 points Most recent by Charlotte February 19, 2019 11:28PM
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How would I set up each transaction with Wave: * Purchase of iPhone from Apple using Citizen One (24 monthly payments) * Monthly payments to Citizen One from Business American Express * American Express statement paid by Business Checking I have accounts for: Business Checking Business American Express Citizen One Loan Machinery Equipment etc. …
