Avoiding duplicating payments

MutCon

Hi guys.

I have recently connected my bank account to my wave dashboard, and all my transactions are importing well, which is an awesome feature thanks wave, my only challenge is that when a client pays directly into my account and I have to record a payment for their invoice it results in double accounting and overstates my income.

Is there a way to avoid this other than deleting the duplicate entry?

Alexia

Hi, @MutCon.

I'll start by saying that we do understand that this is a frustrating thing to deal with. It's why we're working on a way to automate matching your recorded payments and expenses to your uploaded bank transactions, as applicable. But that feature isn't ready yet, so in the meantime, this has to be handled manually. It's a bit of work, but I promise we are doing what we can to save you that time later down the road.

You have two options at your disposal.

• You can continue recording payments on your invoices and, when the matching transaction appears in your bank account, merge them into a single transaction. To do this, select both transactions and press the "Merge" button that'll appear at the top of your Transactions page.
• You can wait until the payment is imported from your bank account to record your payment. Instead of doing it from the invoice, just categorize the transaction from your bank as "Payment for an invoice in Wave" and choose the appropriate invoice. This will mark your invoice as paid without creating a second transaction.

TheCakePop

Hi there. I am still seeing these duplicate transactions and wondering if we are closer to implementing the automated feature described by @Alexia.

Currently if clients pay invoice via wave, and the transaction is also recorded from bank account the two cannot be merged as they are automatically created by wave.


Please advise.

Ryan_W

@TheCakePop this automatic feature is actually available on your Wave account for invoice payments that are processed in Wave! This guide explains how Wave automatically connects these duplicates using a Money in Transit account, and then marking the initial transaction as a transfer to your bank account. Hope that helps!