Accounting Technical Support
Discussion List
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This messed me up last year and I still do not quite get it. I have a business checking, business saving, personal checking, and personal saving. Let's say, I have income of $450 from a source. I label that as "Subsidy payment" in the correct account, where the money was received. Then, I transfer it to savings through my banking app…
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Hi, I'm trying to figure out the best approach for recording the lending of money to my company. When I've lent money I had been adding an income to the Checking Account and categorising it as Shareholder Loan, but this doesn't look right in the reports. Should I add an income to the Shareholder Loan account then create an expense Checking Accoun…
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I'd like to record the sale of the capital asset. This is how my journal entry current looks like. How can I add a category for the debit category?
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I've seen this reported previously, but not the solution. Wave has always worked for me until now. This is the first time I've used it since the update and I can't get past the error message when trying to split a transaction. When I click on SAVE, I get the error message. There was an error saving your transaction. Please try again.
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I have one account for a credit card. I duplicated a transaction as it was from the same company/expense type - but changed my mind and no longer needed the transaction. I deleted the transaction, but the account total never updated. I recall this happening ~a year ago and someone from the Wave team had to refresh my account? Could someone from t…
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I have checks that were entered in one month but didn't clear until the next month so they aren't on the bank statement for the month they were entered. How do I reconcile that month in Wave since I can choose which transactions cleared on the statement?
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I have received a bill for my vehicle repair but I have not paid it yet. How to record such expenses where the payment has to be made on a future date?
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I am sure this question has been asked, but I can't find an answer that applies to my specific business. I own a design business and I pay myself a percentage of the profit from each project. I have no start-up costs or initial investments, instead I keep a part of the profit from the projects set aside to pay for the monthly maintenance costs. My…
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Can you explain how to categorize owner equity and withdrawals from a business checking account. * I will be opening up a separate business checking account. Say I plan to deposit $2000 from my personal money to have some operating income for the business. How would I categorize this? * If I make a future deposit of from personal funds, how is …
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I have a situation where I sell some of my apparel in a consignment shop. They keep 20%. How would I record that 20% fee? Do I use the Payment Processing Fee or discount category? Thanks.
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Hello, I would like to see a list of expenses that do not have HST (sales tax) applied. I want to ensure that I haven't missed a transaction where HST applies. Is there a way to do this?
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Thank you for the help
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Before the big transactions change in March/April, when I would enter a new transaction, the account box would fill in the first listed account. This was great as I had made a fake account to alert me that I'd missed changing it. It doesn't seem to be working anymore. It defaults to my third account alphabetically. I don't understand why it ch…
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I have a very simple need. I would like to be able to export the transactions screen. More specifically, I need to be able to have a CSV with all the transactions, including the category. Right now I can make a report for each account, but without the transaction descriptions, or I can have a report for all the transactions, but without the categ…
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I'm looking for a way to document my unearned revenues. My customers pay me 50% for their project up front so I can buy materials. How do I need to document this in my transactions? When they pay me, I go to their invoice and do the "Record Payment Manually" thing. What do I need to do after that to get the money put in my unearned reven…
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I manage bookkeeping on Wave for our non-profit. We just opened a brokerage account so donors can donate securities. Wave does not allow auto-import of brokerage accounts. 1. So how do I add the account? 2. And when securities are donated, do I show their value in dollars as of the closing on the day they are received into our account? 3. And wh…
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When I view Recent Reconciliations, I see March-June 2021 (yes, I'm behind) - so I want to look at my reconciliations before March, I click on Show All Periods and I get reports from Feb-June 2020 (note 2020). I am trying to see Jan-Feb 2021 and I can't. Plus once I see the Show All Periods, I have no way to go back and see Mar-June 2021. I then h…
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Hi folks, I'm hoping you might be able to help me resolve a minor, but very frustrating, accounting snafu caused by Amazon. I have an Amazon Business Prime Amex, and attempted to use accumulated points to pay in full for a personal purchase from Amazon.com. This should have netted out to zero. To cut a long and extraordinarily aggravating story…
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My credit card is connected. My bank is not. Do I create a transaction for the credit card payment manually so I can keep an eye on my bank balance/pending payments...or do I need to wait until the CC imports the payment transaction and then create the transfer from the bank account. I want to stay as current as possible and not wait for the ban…
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I would like to know how to record a chargeback as a business expense in order to write it off. I didn't use a wave invoice for the service I got the chargeback from.
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What is the best way to track a seed investment made by my small business (i.e. cost basis) in another business/startup? In this case it's a convertible note, so I don't need to really track the value over time. I just want to document that let's say we invested $20,000 on August 1 and another $10,000 on October 1. That way if we need to write it…
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Hi! I incurred expenses before I got my business credit card, business bank account and before beginning to use Wave. I connected my personal credit card to Wave so that I could download all of those transactions and record them as expenses and then used Cash on Hand as the account they are coming from. I'd like to remove this credit card from Wav…
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I'm switiching over from Quickbooks, how do I record the initial inventory I have? It's about $5K. (I sell apparel)
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As I understand, currently Wave does not support the BAS system in Australia. Is this something you are working on or is there a way to product business activity statements every quarter through Wave?
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How do I change the beginning balance on a credit card account? I incorrectly entered the balance as $0.00 but I cannot find where this transaction (to create the beginning balance) is. I have checked under transactions and then the credit card account in question but there are no transactions for this account. There is also no journal entry that …
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does any one know how to add specific expenses to butter catagorize my expenses?
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In wave what is the difference between the owner equity account and the owner investment/drawing account? Reason I'm asking is because instructions say to put the starting balance to owners equity but should it go to owner investment? Thanks
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Hello, my LLC will be sending out the first payment ever to my just-created company in Europe. The idea is that the LLC is the holding company. How should this payment be categorized? Thank you.
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how do I delete an account that I created in the chart of accounts?
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How do we enter in check numbers for checks that we have written using our checkbook register?
