Accounting Technical Support
Discussion List
-
Hi, I'm just evaluating Wave for use by a residential townhouse building. I've read some other threads where you talk about double-entry accounting just "happening automatically" but I'm wondering how to properly do double-entry accounting for the situation of our monthly homeowner fees. Theoreticaly, it seems like we should have an …
-
Hello, Does anyone know a way to download a full list of expenses? I can see in 'Account transactions' lots of subcategories of expenses e.g. Accounting Fees, but not an option to see a full list. Is this possible? Thanks
-
I've seen some similar questions asked here, but still struggling to make this work in Wave. Example: * Rent: $1000 (tracked via invoice) * PM Management Fee: $100 * PM Repairs & Maintenance Costs: $55 * Bank Deposit: $845 I've got an expense category for "Management Fee" and a separate expense category for "Repairs & Mai…
-
Not sure if there is a bug or they changed the system. I am no longer able to mark payments made directly to me by my clients as Owner Investment/Drawing when selecting the account for paid invoices. Can anyone check this?
-
I am struggling to understand how to record PPE with a value. I added the item to my chart of accounts. The item is paid off in full via my bank account prior to me using Wave systems. I have created a journal entry per this post for the account: https://support.waveapps.com/hc/en-us/articles/208622796-Starting-balances-What-they-are-and-how-to-en…
-
When I pay my county's business tax receipt (aka occupational license) every year, I do so online using a card. The organization handling the transaction charges a "convenience fee" of something like $1.93 and that gets charged to my same card as a separate charge (i.e. the county never incurs the fee, but just passes it on to me). The…
-
How do you export the chart of accounts? When I go to menu-settings-data export it doesn't give the option to export the chart of accounts. I used to be able to do it--does anybody know how to do that?
-
Hi, I pay monthly liability insurance. now i want to add a catergory for that without creating a new account. Is that possible? I see as expense category car insurance but no general insurance or similar. Also as a cleaner i can claim travel expense, x cents per kilometer, how do i register this in the wave? Thanks
-
Hello, I was asked by a new client to reconcile a bank statement for the year 2020 but the prior year bank statements from the years 2017 -2019 were never reconciled. I have found unknown transactions in January 2020 (I cannot find these transactions on any other bank statement account in order to determine if it was a transaction misapplied to t…
-
Hello, My name is Anne. Please I stopped seeing the option to enter my exchange rate for the desired currency to my home currency on the transaction page. Kindly assist. My account balance is showing negative in home currency but my foreign currency account has a positive balance. Hope someone replies soon. Best regards
-
I think the problem I am having is when I have transferred funds from one bank account suffix to another (eg -05 to -01) then when manually importing transactions to the -05 account in Wave first (nothing to match against on the -01 yet), so when categorizing the "Uncategorized", Wave creates a "Created Transfer" for the same a…
-
I’ve looked all over Wave, but didn’t see it. So, is there a way to easily run a total for a certain category, like the Owner Investment/Draw? Am I missing something?
-
Hi wave transactions are not updating, even when I stop the connection and restart it, although the system marks transactions as "updating". What should I do and is there another way to import bulk credit card expenses? I can see the option to upload a bank statement but not a credit card statement..
-
The previous platform used to let me mark a group of transactions as "unverified", something really helped me in some of my processes. Now that you moved to the "reviewed/unreviewed", why did you remove the option to bulk unreview? Please, please, please, bring it back
-
Hi, Admin. Good day. We have met an issue which can not be solved by ourselves. This is the second year of the company. The first-year Profit of the company is 8,000, and with Unrealized Gain on Foreign Exchange 35. When I checked the Balance Sheet for the second year, I found that the profit for all prior years(only the first year) was chang…
-
Hi, Is there a way I can see the details of the transactions which impact the "Unrealized Gain on Foreign Exchange" account. I see that account in my P&L and would like to see which transactions affected that account and how much. However, I don't seem to be able to click on the line in the P&L (like I can do with other accounts)…
-
I had to purchase poly bags and special paper to print shipping labels for Pirate Ship. Do these go in Postage and Delivery, Freight and Shipping or just under general Office Supplies?
-
I issued an invoice for $50 and received a payment for $75. How do I assign the $50 to the outstanding invoice and yet categorize the remaining $25 as income? I don't see how to split these up or a default category that I could use to associate with the $25. Thanks!
-
For my business checking account, when viewing on the Dashboard it gives the correct balance - which is $26,708.47. When viewing under the Transactions (under Accounting) page, it gives an incorrect balance of $26,658.47, which is incorrect and a $50 difference. This is the only bank account and there is $0 in cash on hand. If I go to Reports -…
-
Hi there, How does one end your financial year and start the new financial year. In my case my financial year ended 28 Feb and the new one started 1st March. Does wave close the books?
-
Hello, In the past, I only had a few contracts on top of my regular job, so I didn't include any percentage of my rent, phone, internet, etc. in my expenses. I would like to do that now for 2021. I'm a bit late, which means there are no transactions related to this in my bank accounts (no transfers from my business account to my personal account,…
-
How do I move transactions between businesses?
-
How can we budget monthly business expenses and track the budgeted versus actual expenses in wave system?
-
Hi Folks, I lead an IT Department and each year operate within a fixed budget. I'd like to do some further analysis on my expenditures and to be able to see over time how my actual expenses are comparing to the budget. I'm wondering if anyone has thoughts on whether Wave would work well for this purpose and if so how I should configure it? My th…
-
I have a business credit card that gives a cash back reward, reducing the amount owed on the card. However, because the balance was 0 before the reward was applied, I now have a positive, or additional balance on the card, and when I make a purchase, it just reduces the surplus amount. However, it's causing an issue with the cash flow report. Bec…
-
Wave Account : Ventures There seems to be a bug. When I go to Reports/Balance Sheet - Under Details, I get 196300 as Accounts Receivable for the date 2021-09-09. But when I click on the Accounts Receivable it opens up a new tab and in that report, the end balance is 273139. Ideally both should match but in this case this is not matching for us, …
-
I have been with Wave for years. Only 1 client has ever requested a chargeback. They rescinding that chargeback. Their credit card holder released the chargeback over a month ago. I have sent Wave the documentation from the credit card company that they reversed it and the case has been closed. Wave keeps on asking ME to contact the clients cred…
-
Is there a way to generate a report or list of accounts with no transactions entered for a particular time period? Thanks
-
Hello, I'm a new user to Wave and I wonder how to deal with an over-payment to a bill. If I have a bill for 500 and I've paid 700, the bill's balance shows (-200) because of the excess payment. This is good. However, if I enter a new $300 bill from the same vendor and apply a payment to it, I don't have a clue (unless I remember) that I have cre…
-
The page on this topic tells you where to create this account but not how to use it, I assume from the thread I read that when the transaction shows up from your bank, you assign it that category? Although I would think there should be a way to assign before then (journal transaction?) I thought this sounded better than the previous way of creat…
