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Re: Purchase of asset

Ivan ChongIvan Chong Member Posts: 2

Last time I used to use bill to track the purchase of the asset as well. I just found out these few days,I couldn't select any account from asset in Bill transaction for "Expense category". Does anybody know why and what has been changed?

in Accounting Technical Support

Comments

  • CharlotteCharlotte Member Posts: 671 admin

    Hi Ivan! What you're describing here isn't a feature that has been changed but a bug. Our team identified this issue last week and our team is on it. I've added your information to the issue ticket our developers are working on.

  • Eugene TanEugene Tan Member Posts: 1

    I faced the same problem. I have a stack of bills unprocessed because of this.

  • Manuel WinterManuel Winter Member Posts: 2

    I am facing the same issue.

  • Ivan ChongIvan Chong Member Posts: 2

    Any idea when this bug will be fixed?

  • Dagim TadesseDagim Tadesse Member Posts: 2

    I'm having the same issue and I couldn'tprocess most of my bills

  • CharlotteCharlotte Member Posts: 671 admin

    Hi folks, thanks for letting us know about your experiences with this issue. Our team expects to have a fix out shortly, but I don't have a specific time yet. We'll be sure to post here when it's out!

  • Pearlrush ServicesPearlrush Services Member Posts: 8

    yeah...hopefully can be fixed soon. bought stock but cant key. Thanks!

  • Cherry Ann GentoliaCherry Ann Gentolia Member Posts: 1

    Been waiting for the update.
    There are lots of pending bills.

  • Dagim TadesseDagim Tadesse Member Posts: 2

    when is this fix coming, it has been a while already

  • AlexAlex Member Posts: 2

    Yeah, any update on when the fix will come in?

  • CharlotteCharlotte Member Posts: 671 admin

    Hi everyone - please try clearing your cache and logging back into Wave, and then try this again.

  • AlexAlex Member Posts: 2

    I tried logging out, clearing cache and rebooting chrome and still the asset categories do not appear. Any further steps I should be taking?

  • CharlotteCharlotte Member Posts: 671 admin

    Hi Alex & all - let me clarify my earlier comment with more information: yesterday, our accounting product team released a fix for a system change that made it impossible to select an asset account for the 'expense category' field on bills you created. In order to see this fix, you'll need to clear cache and cookies and access Wave again.

    There's one thing to note with respect to this fix and overall process, which is that you will only be able to select asset accounts that arenot also payment accounts. To understand this, you need to consider the underlying bookkeeping that happens in Wave when you create a bill: the underlying journal entry has AP balanced against the line item accounts on a bill. Using a payment account for this purpose is not valid from an accounting perspective, but non-payment asset accounts make sense for some uses (for example, inventory purchase). If you work with an accountant, they may be able to offer a more detailed explanation.

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