Using Wave
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Discussion List
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The Wave Community will go offline on June 30, 2022. We’d like to thank everyone who participated over the past 5 years with your questions, responses, and feedback. As of June 3, we’ve closed the community to new posts and discussions. FAQ How can I get help from Wave moving forward? Use the help button in the bottom right corner of your acco…
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For tailored support, check out our chatbot, Mave, in your Wave account. You’ll first need to log in to your Wave account or sign up. Once you’re logged in, you’ll see Mave in the bottom right corner. Mave is the fastest way to get answers about using Wave 24/7. Our Support Team is available through Mave Monday to Friday from 9 a.m. to 5 p.m. Eas…
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Love Wave!! I have 1 Wave login account with multiple separate accounts Personal (checking, savings, cc, etc) then separate Business accounts. How do I properly categorize the withdrawal from my business to my savings with out it being reflected as an expense (unless it's considered owner draw?) It's not in the "same" account so it do…
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With my former accounting software, when I received my credit card statement, I would create a transaction for each entry as a debit to the proper account (category) and a credit to the credit card account. Then I would pay the credit card, making an entry showing cash leaving (crediting) the checking account and debiting the credit card account. …
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I want to give access to a colleague to do invoices... but don't really want to give access to bills and reports. Is it possible to restrict access? Chris
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hello guys im new to this community i just want to use this service , but currently im in Italy im trying to get it work but i couldn't ,, i just have one question * does this work in Italy if yes how to get it work thanks in advance -
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I am a CPA and have a client looking to use Wave. Does Wave have the option that I can add clients to my login? QuickBooks Online does this where I can see all of my clients on one list. Does Wave offer that option? Or do I need separate logins for each of them?
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Im sure this has been raised before but I cant find it in the community pages. I don't want to take up the Zoho offer but there doesn't seem to be a way to reject it so that I can remove the ad from the Wave pages. It is quite large and annoying. Is there anyone who can tell me how to remove it. TIA Ian
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We are a Canadian company that deals with a US manufacturer. We sell smaller sales to clients from our inventory, but larger sales we have clients purchase and import directly from the manufacturer. The manufacturer will credit the commissions from these sales against previous and future invoices. Wondering if anyone has any advice on the best…
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Hi, I have an invoice that does not show up the transaction. The invoice due date is well before the transaction date and the invoice is approved. Can someone help?
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I would like to open a second account for a friend's business on 12/05/2022. Unfortunately, it is redirecting to Zoho, which is very irritating. Zoho is not good at all; it appears as a mess on the wave heads. Can you please explain why Wave is no longer available in both global and business development?
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Hi all Newbie here with little account knowledge. I wanted to record a purchase of new vehicle and wanted to know how should I record this hypothetical scenario below Purchase of vehicle $100,000 Bank Loan - $50,000 Bank Interest - $10,000 Loan term - 60 months Repayment - $1000 monthly Based on this post, I think i worked out * Create an asse…
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I have customers that I invoice that I allow to pay with Venmo. Venmo takes $.10 plus 1.9% which is better than most CC processing. The question I have is how do I reconcile the invoice? When I transfer the Venmo payment to my checking account I put it against the invoice, but it still shows that remaining amount as outstanding. How do I get t…
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As RBC has announced to their customers via email, we wanted to let you know that accessing Wave through RBC online banking for business is being discontinued as of September 27, 2021. Can I still use Wave? Yes! While logging in through RBC is going away, your Wave account will remain available for you to continue using. If you haven’t already d…
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Is there a report where I can see if a transaction has sales tax added to it? In the past each transaction had a "HST" flag if the transaction had sales tax but that feature appears to have been discontinued. Now I have to open each transaction to see if sales tax was included. This is time consuming and laborious. Does any one have …
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I have a customer that I bill each week, however each week I owe them money that they take directly from my funds before they deposit the payment into my account. I need to show the money they are taking as an expense but also need to have the invoice reflect the amount they are paying after the deductions. Anyone have any idea on how to do this o…
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Is there a way to 1. accept a customer deposit before creating an invoice? 2. then issue a receipt for the deposit received? I accept a retainer prior to starting work. I want to be able to track the money in Wave, and issue a receipt for the deposit received. At a later date when I eventually create an invoice, I can then pay the invoice using t…
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I am new to Wave and I use it for a church in Canada. We pay HST on all purchases but don't charge HST since we don't sell anything. Our source of income is donations. I need to track the amount of HST paid on our expenses in order to apply for HST rebates from the government, and I need to include the tax amount in expense reports. I can't set up…
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Hello, I used wave to invoice a client for 1,800. The invoice was received and processed. When I set up the payout on Wave, for 3 days the site pushed the processing day back ie said it would be processed Weds then on Tuesday says it with be processed Thursday. I get an email on a Friday, without warning or correspondence, that my account cannot u…
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Hello - So...I enter my charges (I am a corporate concierge) after I have used my credit card to purchase an item for my clients. I then invoice them under a category - shopping/gift cards/automobiles - my categories of course. I then invoice for the amount I paid on my credit card and bill the client. What I found is that sometimes I forget to ch…
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I have a single member LLC that 100% owns other single member LLCs. Each subsidiary is in a different business. If Subsidiary 1 (Sub1) has income that I want to use in Subsidiary 2 (Sub2) I transfer the money from Sub1 to the Holding Company (HC) and then to Sub2. How do I account for such transactions? Also, do I need to set up each subsidiary wi…
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Hi, We have recently incorporated and have invested some money in company on various things. I have added two shareholder loan accounts for each of the partners and put the expenses in their names respectively. Now how pay back the shareholders and record the transactions ? I have put the partner's initial spend as expenses ? Is that incorrect ?
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Maybe I'm missing something but I can't see any way to tell which transactions are missing sales tax aside from opening each transaction one at a time. Ideally, I could just look at the list and see where the tax is applied or not. Having to use multiple clicks to look into each transaction is slow already but it also leaves you unsure after you c…
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Newbie question: how can I go about syncing with Square to get raw sales values, prior to the 2.75% Square processing fee? As is, I only import my bank info, which includes the deposit from Square. This artificially lowers my sales figures by 2.75%, and I'm not sure how to fix this. Any advice on this?
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Hello, I deal in cash a lot with my business (yoga instructor). My students like to have receipts showing that they paid their money when they pay in cash. So I input the transaction into Square POS. Then I deposit the cash into my checking account. Well I have both square and my bank syncing with Wave so now those transactions are showing up twi…
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I have some mileage that is charged to clients as a line-item on their invoice and I have some mileage that isn't (I'm a one-person company and drive a personal car, BTW). I log all mileage to a spreadsheet, then at the end of the month turn in all the mileage I've driven and take a personal reimbursement for those miles. It occurred to me that I …
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I have "seller fees" when I sell an item, how do I enter that expense? It's not billable to the buyer.
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I made a purchase that was recorded as a capital asset account called 'furniture' which includes, you guessed it, furniture. I ended up having to return the purchase and getting a refund. What's the best way to categorize this so that my capital asset account reflects my actual value? I assume I shouldn't just categorize it as a refund for an expe…
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I'm trying to generate the T4 for my business but running into issues. For one I don't have anyone on my payroll, the business is a general partnership between my wife and I. We haven't withdrawn more then a hundred dollars in the year on personal stuff. We have continually reinvested the profits back into the business. For 2021 our gross revenue…
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In order to have good record-keeping I feel I need to add a Vendor to each transaction. However, since adding the Vendor is an additional step and slows down data entry, I am wondering If I should stop using the add vendor feature and only use it for important Vendors. Would be nice if the vendor could show up in-line with the rest of the transact…
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Hi all, New to Wave, hoping someone can help me with what I hope is an easy solution. I know this has been written about before, but each situation is different. Essentially I'd like to confirm the best way to record drawings from my business account. E.g. I draw $2500 from my Business account to cover personal rent. Right now I'm creating an e…
