Accounting for Sinking funds (savings categories) in personal bookkeeping

Luvbudgies

I just set up a Wave account for my personal finances to try as an alernative to Mint, and so I can learn Wave and hopefully be able to switch my actual businesses bookkeeping to Wave.
My question is, I have one connected Savings account with a balance that is allocated to about 10 different accounts in a paper ledger book. These are "sinking funds" for various personal savings goals - irregular and annual expenses that I save for. I would like to create these savings categories in Wave so I can see what the lump sum in the savings account is allocated for.
How would I create accounts in Wave to show my various sinking funds? When I deposit to the savings account, I want to allocate the deposit to the various savings goals/sinking funds.
Would I set them up as liability or equity accounts? I think of my sinking funds as asset accounts, but I need a credit account to balance to the bank deposit debit. I was originally going to set them up as assets, but realized I would be overstating my actual assets.
Thanks for any help.

Flopbot

Hi @Luvbudgies ,

I'm looking for the exact same functionality in Wave - for business purposes - and have come to the conclusion that it isn't possible with the way Wave is build right now. I base this assumption on this post (click here).

If you do find a solution, PLEASE DO share!!!

I'm new to Wave - and the idea of accounting as a whole - and do like using it for our small business; although I really, really wish it could do this - I call them "Savings Goals".

Once you gain your experience with Wave for your business, might I suggest that you consider a software called Simplifi by Quicken for your personal finances. It is a newer software and does include this ability. Just to be clear, I don't view it as a replacement to Wave for business. I use Simplifi for my personal finances and Wave for my business.

Since Wave can't do "Savings Goals", I've been looked into supplementing Wave with an app like "Good Budget" or "Savings" although, honestly, I haven't found a great solution yet.