New transactions - can't do transfer
tsmith
Member Posts: 22
Previous community posts said that for those NOT connecting their bank account, in order to record wave payments being deposited, to create a new expense. Set the withdrawl account to payments by wave, and then choose "transfer to checking". However, in the new transactions page, I cannot do this. (nor can I clone the old transactions).
When I select the payments by wave account as the expense account, the category is greyed out, and I can't change to "transfer to checking".
If I DONT select payment by wave, and leave it on cash, I can choose transfer, however it immediately creates the second transaction and I end up having to edit that as well as the accounts are set for cash, and not payments by wave.
What's the new process for transferring this since the old method is broken?
Comments
Hey there @tsmith !
If you receive invoice payments through Wave but don't have a bank connection importing your transactions automatically, you will will have to either import your bank transactions using our CSV uploader/ Wave Connect, or you will need to create the bank deposit transaction manually like you mentioned.
Regardless of how you get your bank deposit transaction into Wave, once recorded you will want to make sure that the account selected on the bank deposit transaction is the one that received the funds. Then, you will want to categorize it as "Transfer from bank, credit card, or loan > Payments by Wave". Selecting this category will automatically generate a transfer transaction recording the movement of funds between your accounts.
Once this is done, you should be left with 3 transactions total. Below I attached an example for reference:
To learn more, feel free to check out this Help Center article.