I'm having the same/similar issue as @ilt. In the past, if two invoices were paid by a client, each for $1000 and they sent a check for $2000, I was able to split the bank transaction to properly merge with invoice payments to have my ledger reflect which invoices were paid. I am now not able to do this which means I have to do one of three things: 1) delete the "invoice payment" line, losing those details; 2) delete the bank statement line, losing that transaction number; or 3) delete one of those two after manually moving the details to the other line item.
Although being able to link a customer with the transaction split is nice, it's kind of useless since the only time I'd have a split it would all be the same customer, just different invoice numbers. (I'm using mobile deposit with my bank, so each client check is a different deposit.)
Anyhow, just wanted to echo @ilt, the old way was more useful for my bookkeeping purposes.
Hi @beckyweaver thank you for your added input. I certainly understand the usefulness of that feature and will bring it up to the team; while I can't guarantee its arrival or any ETA on it, I'll be sure to relay your interest in having this implemented.
Please bring back the ability to sort transactions by $ amount- it makes it so much easier to match up receipts with bank imports since they often have different dates (date of purchase on receipt vs date of posting in your bank account). Much more annoying to have to search through all the transactions to find two that match instead of being able to line them up next to each other by sorting
I can definitely see why being able to sort transactions by $ amount would be valuable for you. I've gone ahead and spoken to our Product team and can confirm that this is something they plan to work on - I just can't give you a precise ETA.
Thanks so much for letting us know how this would work for you!
@Ubergeeksov As of right now, there isn't a way to select the date preference for merging a transaction, it will always follow the invoice payment or receipt/bill transaction that was created in Wave. Perhaps this is something that will be available in the future, but we do not have any immediate plans in doing so.
When merging is there a way to set a preference for the date to be the one that comes from the bank download, rather than the scanned receipt/invoice?
Thanks.
For accounting purposes it's the date you made the payment that is relevant, not the date it clears the bank account/credit card account, so there would never be a need to set a preference for dating as it would be illogical to do so.
Prior to the upgrade, when I merged a receipt with its corresponding transaction, the imported transaction would override the receipt in terms of description and details. Now it is the opposite. So when I categorize and add vendor or customer info to the transaction, all of those details disappear after the merge. I have to repeat the process of adding those details or wait until I merge the two to input additional information. The imported transaction details are more pertinent, as they match bank statements descriptions for transactions. Anyone else having issues with this?
Hey @keepbk this is actually expected behaviour with how the code for merging transactions prioritizes which transaction overwrites the other. In order, it'll prioritize payments through Wave, then number of line items within either transaction, then receipts. So, if each transaction is composed of the same number of items, the receipt will take priority. Hope that helps!
Hi, I would like to check for the best practice for merging transaction when it's about multiple currencies (My default is THB / In this case, the payment is done in USD)
I found the issue:
When I upload the receipt through wave ios app, it would show one amount (USD with exchange rate to THB)
Then when the bank charge to me, it's with different THB amount - probably due to different exchange rate
Since the amount is different, it cannot be merged.
What I normally do is to delete the receipt transaction & only keep bank transaction as it's the actual amount I need to pay.
I wish I could also keep the receipt but the process to do so is quite complex when dealing with a lot of transactions (I need to change the amount to match the bank then merge one by one).
Are there anything better that I could keep both receipt & bank amount?
PS: for example, will Wave plan later to allow merging different amount but pop up the menu to let user select which amount to be kept if they're not matched?
@supakdee ahhh yes, that's a bit of a tricky one purely because Wave calculates the exchange on that receipt based on the daily rates from xe.com. So, it'll almost always differ from the rate that your bank calculates because the timing is asynchronous.
The only workaround I can think of would be to wait until the bank connection imports the actual amount, and then you can go into Purchases > Receipts, edit the amount to reflect your bank's exchange rate, and then post it to your accounting; then you'd be able to merge it with the bank-imported transaction.
> @Ryan_W said: > @supakdee ahhh yes, that's a bit of a tricky one purely because Wave calculates the exchange on that receipt based on the daily rates from xe.com. So, it'll almost always differ from the rate that your bank calculates because the timing is asynchronous. > > The only workaround I can think of would be to wait until the bank connection imports the actual amount, and then you can go into Purchases > Receipts, edit the amount to reflect your bank's exchange rate, and then post it to your accounting; then you'd be able to merge it with the bank-imported transaction.
Thanks Ryan
I feel the way that works for me is to just posting it then delete one transaction later - so far, I select simplicity over complexity (change amount then merge)
I hope Wave will come up with some better functionality to deal with this situation in the future
When merging is there a way to set a preference for the date to be the one that comes from the bank download, rather than the scanned receipt/invoice?
Thanks.
For accounting purposes it's the date you made the payment that is relevant, not the date it clears the bank account/credit card account, so there would never be a need to set a preference for dating as it would be illogical to do so.
@MerlinAccounts_UK speak for yourself but not sure it's illogical for my needs. I totally agree with you @Ubergeeksov that it'd be very helpful to be able to merge the transaction and keep the bank statement date rather than defaulting to the receipt date. It's a total nightmare otherwise when you come to do the reconciliation if your bank statement says one date and the merge has kept the receipt date.
For example, I have plenty of supplier statements/receipts issued and dated "October" that actually get taken out of my bank account by direct debit in "November". I am now having to go into each and every one of these and amend the date on the merged transaction to match the one on the bank statement otherwise every monthly balance is wrong
What is the benefit of "merging" over just deleting the duplicate (leaving aside, for the moment, that Wave is the only system I've ever seen that imports a bank feed without trying to match transactions)?
@Mindplay Both workflows (deleting or merging) are effective and get the job done quickly. Many Wavers are hesitant to delete any information that is important in the event that they make a mistake because deleting is a permanent action. In saying that, it is more of a personal preference to which workflow you prefer
I used to be able to split a transaction into several different entries then merge an uploaded receipt with one of them. Now after the recent upgrade, I don't see how I can do that
Hi @Lanessa! Thanks for reaching out. The process is different now in that when you split transactions it does not create separate lines in the transactions page for the split. The current process is that splitting a transaction creates lines within the transaction entry to show what the payment/expense covered. To 'attach' the receipt image to a transaction, the process would involve either splitting the transaction manually (deleting the bank imported transaction and then entering each 'split' as a separate transactions) this would allow you to merge the receipt transaction. Or, instead of clicking 'post to accounting' when you upload the receipt, you could upload the receipt, head to the 'Receipts' tab on your account and click 'view receipt image'. This will open the image in a new tab. Copy the URL and then paste this into the transaction 'notes' so the receipt image is linked to the split transaction. We know these current flows are not ideal so we hope to have a solution for this in the future.
Hi,
If they are multicurrency transaction you cannot edit, so I think you cannot merge them.
So, in this case, may I delete the transaction came from uploading the bank statement? The other will remain because I have assigned the payment to the specific bank account.
Am I correct?
Anyway, is there a problem instead of merging to delete duplicated transactions after bank statement uploading? Or will it create problems with the reconciliation later?
Thank you
Leonidas
Yeah as you mentioned, you can do this, however it will technically not reconcile unfortunately. Currently there is no workaround besides deleting the duplicate.
I have a question about categories. I have couple of Sales, so the situation is as follow:
I have a transaction with the amount 1000$ which should go into Sale 2 account. When I add a manual payment 1000$ through the invoice, it automatically puts the payment in Sales 1 account. When I merge them it will always take Sales 1 account, but it should be Sales 2. Just wondering if there is any way to change Sales account on merged transactions?
P.S. This is in foreign currency, so I can't categorise like Payment for Invoice etc.
Sounds to me like the products income account is what might be connected to Sale 1 account. If you head to the products and services > Find the product on that invoice > And see what the income account is there you should be able to change it. If you want it to change on the invoice be sure to remove it from the invoice and re-add it. This will add the newly updated product.
You can also create a journal transaction to debit the one account and credit the other. But it's best to make sure your products are updated. Remember that the income accounts are primary tied to the product and service rather than the invoice itself.
When I merge transactions between the receipt that I manually uploaded and my credit card statement it chooses the blank business name from the receipt rather than the business name provided by my credit card statement. I have to type in the business name each time.
When I used the receipt app it automatically loaded the name of the business.
I REALLY hope there's an easy fix to this. I am doing way more manual work without the receipt app--typing in the amount, indicating the account and now retyping the business name? ugggggh
Comments
I'm having the same/similar issue as @ilt. In the past, if two invoices were paid by a client, each for $1000 and they sent a check for $2000, I was able to split the bank transaction to properly merge with invoice payments to have my ledger reflect which invoices were paid. I am now not able to do this which means I have to do one of three things: 1) delete the "invoice payment" line, losing those details; 2) delete the bank statement line, losing that transaction number; or 3) delete one of those two after manually moving the details to the other line item.
Although being able to link a customer with the transaction split is nice, it's kind of useless since the only time I'd have a split it would all be the same customer, just different invoice numbers. (I'm using mobile deposit with my bank, so each client check is a different deposit.)
Anyhow, just wanted to echo @ilt, the old way was more useful for my bookkeeping purposes.
Hi @beckyweaver thank you for your added input. I certainly understand the usefulness of that feature and will bring it up to the team; while I can't guarantee its arrival or any ETA on it, I'll be sure to relay your interest in having this implemented.
Please bring back the ability to sort transactions by $ amount- it makes it so much easier to match up receipts with bank imports since they often have different dates (date of purchase on receipt vs date of posting in your bank account). Much more annoying to have to search through all the transactions to find two that match instead of being able to line them up next to each other by sorting
Hi @georgesmillcheese, thanks for the feedback!
I can definitely see why being able to sort transactions by $ amount would be valuable for you. I've gone ahead and spoken to our Product team and can confirm that this is something they plan to work on - I just can't give you a precise ETA.
Thanks so much for letting us know how this would work for you!
Hi,
When merging is there a way to set a preference for the date to be the one that comes from the bank download, rather than the scanned receipt/invoice?
Thanks.
@Ubergeeksov As of right now, there isn't a way to select the date preference for merging a transaction, it will always follow the invoice payment or receipt/bill transaction that was created in Wave. Perhaps this is something that will be available in the future, but we do not have any immediate plans in doing so.
For accounting purposes it's the date you made the payment that is relevant, not the date it clears the bank account/credit card account, so there would never be a need to set a preference for dating as it would be illogical to do so.
Prior to the upgrade, when I merged a receipt with its corresponding transaction, the imported transaction would override the receipt in terms of description and details. Now it is the opposite. So when I categorize and add vendor or customer info to the transaction, all of those details disappear after the merge. I have to repeat the process of adding those details or wait until I merge the two to input additional information. The imported transaction details are more pertinent, as they match bank statements descriptions for transactions. Anyone else having issues with this?
Hey @keepbk this is actually expected behaviour with how the code for merging transactions prioritizes which transaction overwrites the other. In order, it'll prioritize payments through Wave, then number of line items within either transaction, then receipts. So, if each transaction is composed of the same number of items, the receipt will take priority. Hope that helps!
Thanks @Ryan_W for the response. It's a bummer that it doesn't merge all of the information.
I understand though, thanks.
Hi, I would like to check for the best practice for merging transaction when it's about multiple currencies (My default is THB / In this case, the payment is done in USD)
I found the issue:
Since the amount is different, it cannot be merged.
What I normally do is to delete the receipt transaction & only keep bank transaction as it's the actual amount I need to pay.
I wish I could also keep the receipt but the process to do so is quite complex when dealing with a lot of transactions (I need to change the amount to match the bank then merge one by one).
Are there anything better that I could keep both receipt & bank amount?
PS: for example, will Wave plan later to allow merging different amount but pop up the menu to let user select which amount to be kept if they're not matched?
@supakdee ahhh yes, that's a bit of a tricky one purely because Wave calculates the exchange on that receipt based on the daily rates from xe.com. So, it'll almost always differ from the rate that your bank calculates because the timing is asynchronous.
The only workaround I can think of would be to wait until the bank connection imports the actual amount, and then you can go into Purchases > Receipts, edit the amount to reflect your bank's exchange rate, and then post it to your accounting; then you'd be able to merge it with the bank-imported transaction.
> @supakdee ahhh yes, that's a bit of a tricky one purely because Wave calculates the exchange on that receipt based on the daily rates from xe.com. So, it'll almost always differ from the rate that your bank calculates because the timing is asynchronous.
>
> The only workaround I can think of would be to wait until the bank connection imports the actual amount, and then you can go into Purchases > Receipts, edit the amount to reflect your bank's exchange rate, and then post it to your accounting; then you'd be able to merge it with the bank-imported transaction.
Thanks Ryan
I feel the way that works for me is to just posting it then delete one transaction later - so far, I select simplicity over complexity (change amount then merge)
I hope Wave will come up with some better functionality to deal with this situation in the future
@supakdee that's totally fair, whatever works best for you! Either way, I also hope we can broaden our multi-currency capabilities in the future.
@MerlinAccounts_UK speak for yourself but not sure it's illogical for my needs.
I totally agree with you @Ubergeeksov that it'd be very helpful to be able to merge the transaction and keep the bank statement date rather than defaulting to the receipt date. It's a total nightmare otherwise when you come to do the reconciliation if your bank statement says one date and the merge has kept the receipt date.
For example, I have plenty of supplier statements/receipts issued and dated "October" that actually get taken out of my bank account by direct debit in "November". I am now having to go into each and every one of these and amend the date on the merged transaction to match the one on the bank statement otherwise every monthly balance is wrong
What is the benefit of "merging" over just deleting the duplicate (leaving aside, for the moment, that Wave is the only system I've ever seen that imports a bank feed without trying to match transactions)?
@Mindplay Both workflows (deleting or merging) are effective and get the job done quickly. Many Wavers are hesitant to delete any information that is important in the event that they make a mistake because deleting is a permanent action. In saying that, it is more of a personal preference to which workflow you prefer
I used to be able to split a transaction into several different entries then merge an uploaded receipt with one of them. Now after the recent upgrade, I don't see how I can do that
Hi @Lanessa! Thanks for reaching out. The process is different now in that when you split transactions it does not create separate lines in the transactions page for the split. The current process is that splitting a transaction creates lines within the transaction entry to show what the payment/expense covered. To 'attach' the receipt image to a transaction, the process would involve either splitting the transaction manually (deleting the bank imported transaction and then entering each 'split' as a separate transactions) this would allow you to merge the receipt transaction. Or, instead of clicking 'post to accounting' when you upload the receipt, you could upload the receipt, head to the 'Receipts' tab on your account and click 'view receipt image'. This will open the image in a new tab. Copy the URL and then paste this into the transaction 'notes' so the receipt image is linked to the split transaction. We know these current flows are not ideal so we hope to have a solution for this in the future.
Hi,
If they are multicurrency transaction you cannot edit, so I think you cannot merge them.
So, in this case, may I delete the transaction came from uploading the bank statement? The other will remain because I have assigned the payment to the specific bank account.
Am I correct?
Anyway, is there a problem instead of merging to delete duplicated transactions after bank statement uploading? Or will it create problems with the reconciliation later?
Thank you
Leonidas
Hey @Leonidas
Yeah as you mentioned, you can do this, however it will technically not reconcile unfortunately. Currently there is no workaround besides deleting the duplicate.
Hi all
I have a question about categories. I have couple of Sales, so the situation is as follow:
I have a transaction with the amount 1000$ which should go into Sale 2 account. When I add a manual payment 1000$ through the invoice, it automatically puts the payment in Sales 1 account. When I merge them it will always take Sales 1 account, but it should be Sales 2. Just wondering if there is any way to change Sales account on merged transactions?
P.S. This is in foreign currency, so I can't categorise like Payment for Invoice etc.
Hey there @Lasmanis
Sounds to me like the products income account is what might be connected to Sale 1 account. If you head to the products and services > Find the product on that invoice > And see what the income account is there you should be able to change it. If you want it to change on the invoice be sure to remove it from the invoice and re-add it. This will add the newly updated product.
You can also create a journal transaction to debit the one account and credit the other. But it's best to make sure your products are updated. Remember that the income accounts are primary tied to the product and service rather than the invoice itself.
When I merge transactions between the receipt that I manually uploaded and my credit card statement it chooses the blank business name from the receipt rather than the business name provided by my credit card statement. I have to type in the business name each time.
When I used the receipt app
it automatically loaded the name of the business.
I REALLY hope there's an easy fix to this. I am doing way more manual work without the receipt app--typing in the amount, indicating the account and now retyping the business name? ugggggh