Of cash on hand, wave payment imports, and automatic bank downloads
evoterra
Member Posts: 1
Just when I think I have this accounting stuff down...
On 5/15, I've a transaction in Wave showing a client paid an invoice via Wave Payments for $170. Its Category is Invoice Payment and was added to the Cash on Hand Account.
On 5/17, I've a transaction in Wave showing the transaction automatically download from my bank for the amount of 164.77, which is the invoiced amount less transaction fees. Its Category is Sales and was added to my Business Checking Account.
Am I supposed to "Merge" these transactions? Probably not, because they aren't the same amount, and there isn't an additional transaction for the fees, so they don't balance.
Am I supposed to "Transfer" one into the other?
Or is it all find as-is, and I should just walk away? That seems wrong, because I'm pretty sure that makes for double-counting.
Comments
Hi, @evoterra.
Just delete the transaction uploaded from your bank. The one created from the invoice payment takes into account the merchant fee, and as such, is more accurate (you should have another transaction for the difference close-by).