Why does Wave create an “expense”of the exact same invoice amount, right after it is paid?
Chevassus
Member Posts: 7
Apologies for the rookie question, but I’ve searched everywhere I can’t seem to find the answer.
- The problem:
There is an “expense” auto-created (I.e. not a transaction from my bank) for an invoice amount. Why is this?
- Example:
- On June 8, a client pays an invoice and $338.58 is deposited as income. Great.
- But then June 9 rolls around and there is a sudden $338.58 expense that Wave creates.
Wave puts in the description “Transfer from Wave Payments to your bank account.” But this doesn’t make any sense. (Again... this expense is not reflected in my bank account. It’s only in Wave.)
Why is Wave randomly putting expenses in my transactions? Sure I can delete this, but will I have to delete this made up expense (‘transfer’) for every single invoice paid from here on out?
Thank you for any direction or ideas!
- The problem:
There is an “expense” auto-created (I.e. not a transaction from my bank) for an invoice amount. Why is this?
- Example:
- On June 8, a client pays an invoice and $338.58 is deposited as income. Great.
- But then June 9 rolls around and there is a sudden $338.58 expense that Wave creates.
Wave puts in the description “Transfer from Wave Payments to your bank account.” But this doesn’t make any sense. (Again... this expense is not reflected in my bank account. It’s only in Wave.)
Why is Wave randomly putting expenses in my transactions? Sure I can delete this, but will I have to delete this made up expense (‘transfer’) for every single invoice paid from here on out?
Thank you for any direction or ideas!
0
Comments
Hey @Chevassus ,
This expense transaction should also be associated with an income transaction, which is the actual deposit of funds from your bank, i.e. the transaction imported from your bank connection. The original income transaction records the invoice payment into your Wave Payments Money in Transit account, whereas the additional two transactions show the movement of funds from the Wave Payments account, to your bank account.
If you're not seeing all 3 transactions, please post a screenshot below of what you do see, and we can assist you from there.
I also recommend taking a look at this Help Centre article for more details on this automatic workflow!