Accounting Technical Support
Discussion List
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I'm completely new to book-keeping so thank you in advance and sorry if these are stupid questions- 1) If I paid for advertising for my company, and someone paid me for their portion, which I had already paid for, how would you show that? 2) If I receive payment for a project, that's split 50/50 how would I show that in accounting? I've already …
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Hello there, after having input hundreds of purchases subject to VAT since my business opened last March, and having only now registered for VAT in the UK, I am disappointed to find that my Sales Tax Report feature doesn't seem to be working. The report simply reads £0.00. I seem to remember this not being the case near the beginning of my busine…stonelynkorganics 1 view 4 comments 0 points Most recent by MerlinAccounts_UK February 6, 2019 12:25AM
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I transferred money from a personal checking account (not connected or associated with Wave) for an influx of money for upcoming expenses. How can I categorize that, since it seems if I put it as a transfer from a bank it needs to reconcile that with that account(?). VERY new to Wave and still trying to figure things out. Thanks!
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In the P&L report under sales line, which represents the total revenue my company generated has a wide discrepancy against income collected. I've accounted for slight variance due to credits/refunds, however, this doesn't explain why there can be such a huge difference. I'm off by about $20k.
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I started a small business (sole prop) in mid-2015 and used Wave for bookkeeping. On January 1, 2016 we formed a partnership (under an LLC). Technically this is a new business entity, but I foolishly just just kept using the same Wave account instead of starting a new business account for 2016. I mostly got it straightened out, but there are so…
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Hi! Does anyone have a list of all the keyboard shortcuts on Wave?
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Hey guys, recently started using Wave and I have been looking through the "Chart of Accounts" section and since I recently received a deposit from a client it sounded like it belonged in the "Customer Prepayments and Customer Credits" section within "Liabilities & Credit Cards"; however when I go to add Income I d…
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Hello. I have a bill that I entered which has line items for the products/services that I purchased from a supplier. I ended up paying that bill with a credit card. Wave has downloaded the transaction along with the other CC transactions. I went into the bill and marked it paid using that credit card. Now I have to transactions for the same amou…
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How do I account for a business loan that was already used for a previous year's expense? I have not started to pay it off yet. I. I want to show the outstanding loan amount as a liability on reports each month until it is paid off.
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I’ve always kept my own books, then used spreadsheet to create invoice. I’ve recently graduated to web-based accounting. I have a client who is also a vendor. I bill them bi-monthly for my time. In the past I’ve included a “Barter/Trade” line item credit (negative amount) on their invoice for any printing they did for me in that respective time fr…
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I have my biz CC and my biz bank account connected to Wave. When I make a purchase using the CC the individual purchases are automatically imported where I can adjust and verify them. Then I pay the CC from my bank account. This is automatically imported as an expense. It's not really an expense, though, as the expense was recorded when I import…
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I have completed all the necessary accounting activities and reconciled all transactions, balances, and ledger accounts for 2018. I need to "close the year" and provide my accountant the "year end back up file". So, ummmm, how does one generate a year Accounting Year end back up file? Here's what I'm being asked for: * A bac…
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Hi Can anyone tell me if it is possible to move sales from one account/Business to another withing same user platform?
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I want to import my clients to mailchimp and also need to download all the data I can for my CPA but I see only the option to print invoices and such. This means I pay the CPA more money or I spend the time formatting that to an excel. Is there a way to export in a new file format? Thank you!
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Hi, simple question. Can we customize Statement templates / layouts? (for e.g. I'd like to add banking details). Kind Regards D
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I have recently been upgraded to the new version of Waveapps and I mostly love it so thanks very much for that. My only gripe and it is a significant gripe is that I can no longer select 2 transactions and mark them as a transfer. Or at least I cannot figure out how to do this. There is a seemingly "new" feature where you can select 1 t…
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Hi, I and a bank error that appeared on my bank transaction. For example, I deposited $100 of checks, but it made an error and made $1000 deposit. The difference, $900, later came out of my bank account. How should I categorize this $900? Thanks
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How do you keep track of inventory in this app? If i make a sale and I create an invoice for example. The transaction is generated as cash on hand and sales (I assume as i can't see a full journal entry just the main description). So, Do i need to create a manual journal entry with merchandise inventory or cost of goods sold to keep track of the i…
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Folks: I have an asset-based business where I own an asset that is rented out and I receive a settlement statement each month from the management company. I record this through a journal entry to record each month's performance. I've connected my bank accounts, and I end up with all these duplicate entries. As an example, I record an entry on the…
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I need to download information for the CPA and I can't find a way to download in a format they can use? I'd also like to download all my email contacts into a file I can import into mailchimp for mass marketing to clients? Thanks for the help!
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Hello I am not finding any options to transfer from personal to business. Please help me out.
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I get invoiced by a third party trainer who does work for me, can i upload the invoice they send me (pdf) as a bill? I have been trying to see if this is possible but cannot see how to do it. Appreciate any guidance Echeb
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Is there any way of getting a spreadsheet of the bank data and corresponding account assignment? This would be all the data that I entered into the system. Do i own this data? I find it would be easier to work with this data in a spreadsheet because of the latency (time delay) that occurs when working with in my browser internet service. I ha…
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Hi, I was wondering if anyone had any idea how I can add postage as an extra category under -Transactions - Add Income area. For example, if I've charged $100 for a pair of earrings but I paid postage of $10 for that sale. Do I just show the Income as $90? I would like to be able to see $100 for the sale less $10 for postage. Hope that makes sens…
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Show the Account Hierarchy in the Chart of Accounts. For example an expense can be COGS or Expense, however this can't be determined without tracking where transactions end up on a report
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Product Development is in the expense category, but shows up under Cost of Goods Sold on the income statement. Can this be changed?
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My credit card account shows my balance as a positive and not a negative. Meaning the amount we owe on the card is showing as a positive balance in wave. So it looks like I have overpaid or something. How do I change this? What do I need to do for it to be accurate?
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How do we account for purchases of new equipment within wave, obviously i use receipts for all my regular bits and pieces, i also have a long term asset (van) under Depreciation and Amortization account, but i also have relatively small purchases of equipment that would be expected to last a few years, laptops, machines etc, £200-£500 max, these w…
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Where has the journal entry functionality gone? Does Wave not think journal entries for accountants has disappeared? Thx
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Dear All Need assistance. At the navigation Chart of Accounts, i do create several'Income' ie 7 line. Unfortunately, 'Income' line only show 4 line item only. Please assist. Thanks & regards
