Accounting Technical Support
Discussion List
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I received a promotional credit when opening my new corporate card account. How would I classify that in terms of income category in Wave?
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Hi Im using waze receipts, which is really good take the picture process then upload to accounts. Question is 1 how do i access the reports to send to my accountant, ie can it go in an excell sheet or can i print them out 2 can i send the report with breakdown of spending and pictures to my accountant 3 can i print out the reports with the picture…
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I received a loan from a family member that they funded using their own PLC. The agreement is that I pay them the interest that they get charged by their bank every month, then once my business gets rolling I start chipping away with higher payments back to them. I'll know exactly how much interest I'm paying each time, and then I'm able to incr…
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I'd like to be able to have multiple receipts in an expense transaction -- we often write a check for multiple receipts, so to make the bank statement match the transaction log this seem necessary. Doesn't seem to be a way to add a receipt from the transaction window, either to the transaction itself or to a split. Am I missing something? Would l…
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Hi, I know Wave creates a set of accounts based on the business structure you select at set-up. I chose S-corp. Which would be the equivalent accounts Wave created for these items I've listed below? I'm sole shareholder, fyi. Thanks for any info! Shareholder Distributions Capital Stock Additional Paid-In Capital Retained Earnings Net Income
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I am wanting to attach a list of receipts to an Invoice that I'm planning on sending a partner, but I don't see that option. With that being said, what's the purpose of receipts in Wave Apps? Is it just for storage?
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the purchases that I made and entered with the GST sales tax is not showing up on the Sales Tax Report under Purchases Subject to Sales tax and Tax amount on Purchases...I am unable at this point to do my GST reporting to the government ...I have the GST on invoices that I sent out...but not the one that I paid...
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Hello - thanks in advance for any help. Really would like to be able to use Wave more - Hate QB! I am a corporate concierge so I run errands for my customers. I normally have 2 items in products - the item I buy and then my time charges - i have created the "time charge" in services but know would like to run a report on that service …
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Hi, How can I get an overview of my income and expenses in different currencies?
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Background I have a small property portfolio of 4 properties with a 5th property half owned by a relative which we jointly inherited at no cost. Questions I have recorded the 4 fully owned properties as Asset expense transactions in a separate account for each property belonging to "Long Term Asset" section. What should I do about the 5…
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I flip houses using other peoples money (loan) secured by a lien position on that property. When we open escrow at our title company to make the purchase, the title company opens an escrow account at a bank. The lender funds are deposited in that escrow account (which the title company controls). During the escrow process, expenses are deducted f…
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I am new to wave and also to my business. I have incurred some business expenses that i have paid out of my personal funds. Now i have added these individual expenses into wave accounting transactions and associated to a personal account in lieu of my business checking account. Now to balance my books, how do i make an entry to get reimbursed from…
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I have 3 businesses that i have open on wave and 2 demo ones I used to test out the software. I cant seem to remove them and they are currently cluttering and confusing our system users. How do i remove them without removing all our businesses.
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I have to pay excise tax payments quarterly and I was wondering what is the best way to enter my payment to the state in wave? Thanks so much!
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My accounting knowledge is very very minimal. Sit on a curling club board and doing this as volunteer work. Inherited an accounting program on Excel that has numerous errors and have so far successfully re-entered information in Wave. I need to know how to create fixed assets, more importantly how to get values assigned to these assets. The asset…
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I just started using Wave. I drive trucks for work and have expenses for taxis, public transportation, hotels, flights, and other deductible categories. When I add a receipt, the drop-down list does not have any option for travel expenses. Is there a way to add custom categories for my business? I'm surprised that such common expenses would not b…
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Hi All, I'm a little clueless to bear with me... I have a couple of properties that I rent out, they are managed by a 3rd party to collects the rent and fixes any problems on my behalf. Each month I receive a "statement" from them, this tells me what outgoings there have been that month and tells me what remaining money (the rent minus…
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nearly all my transactions come into wave via an auto import from my corporate card. What I’d like to do is be able to select a handful of transactions that are already in Wave and then create an expense invoice populated with those transactions. Is that possible? Thanks, Mike
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How to record office equipment in Wave? When I add new item (Aircon) but the category can't set under office equipment.
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Hi everyone I'm just getting started with Wave. So far I'm really impressed by the interface and ease-of-use! I have run into one error though that I really can't wrap my head around. I'm a complete accounting novice, so sorry in advance in case I don't understand some of your advice! Background I am a sole trader working in the music industry.…
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I followed this article: https://support.waveapps.com/hc/en-us/articles/208621616-How-to-create-a-transfer-between-two-accounts-e-g-categorize-a-credit-card-payment- But when I get to step #5, it doesn't let me locate the line matching the transaction for the other side of this transfer. The only thing that shows up after clicking Transfer is 'Cas…
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Hi Community, I've bought some equipment to be rented out but I'm curious as to the accurate way to record this within Wave. When I upload the receipt, wave automatically suggest (correctly I suppose?) that this goes into (debit) an expense account and comes out of (credit) an asset account. That's all well and fine, but I believe this should al…
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Hello, I switched banks and moved all my money. How do classify the category in Wave? I only have one income account right now (membership fees), but when I use that category it looks like my membership fees increased on the reporting. Do I create a new income account or post it some other way? Thanks in advance for your help
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I cant remove a business. I have 3 current businesses running and set up 2 demo ones which i cant remove and they are cluttering my wave. how can I remove them without taking down my account.
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Hi there and a new wave user question: The dashboard cash flow report/preview shows only cash in our case, so the majority of payments we get from paid invoices does not show up. Most of our clients pay with credit cards using waves payment processing. To see the real number I have to see the cash flow report, set the time frame and and set the pa…
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When I create new accounts and also change the name of an existing account, the Income Statement is not showing the accounts in any sensible order. However when I view the Chart Of Accounts, the accounts are listed alphabetically within each accounting category (e.g. within Expenses, Accounting Fees comes first, Vehicles comes last). Is there a …
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Hello, This may because I am fairly new to Wave's accounting software but something very interesting is happening. I linked a Credit Card to the Wave app because that's what is used for all business expenses other than expenses that need to be drafted from a checking account. When the expenses come through, I categorize them as appropriate (Inco…
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I am new to WAVE, very new. I have used Quick books for years and I want to simplify things so that is why I started WAVE accounting. I need to assign the value of our fixed assets that are on our books now in WAVE. I have them entered but I can't figure out how to put the value to them.
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I've done a search and can't find any questions or answers that come close to what I am looking for, so here goes. I am a maker and I just set up formal business and accounting structures for my work this year. As of right now, I am only recording material costs as an expense and product sales as income. My sales volume and product variety doesn…
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Hello. As a charity, we have to treat some of our funds as restricted. How do you do this in Wave?
