reconciliation questions

Cndtms

I have a very simple new consulting business. No employees and no retail, just consulting services to a single client. Wave is great. I just need a better understanding of the accounting reconciliation, so I'm putting things in the right category and not duplicating expenses.

Could someone talk me through categorizations for these things:
-monthly payments to myself?
-initial investments into the business before I had my checking account?
-uploaded & categorized receipts that are later...
...reimbursed by the client?
...paid to the credit card company?
...creates duplicates - right?

Thanks for the help with this!

KiahD

Hey @Cndtms,

As a start, we have several Help Centre articles which walk you through how to record the transactions you're describing! Take a look below:

• Payments to yourself will be recorded as an Owner's Draw. Alternatively, investments from yourself into the business as an Owner's Investment - How to record personal transactions from a business account
• Reimbursements
• Credit card repayments

In addition:

• Duplicated receipts are no longer an issue with the new receipts workflow. However, if you find you have duplicates previously create in your account, you can either delete one of the transactions, or merge them together.