Changing Account Balances
SlipNFly
Member Posts: 2
Hi everyone! A couple of months ago we tested Wave since we were looking to replace our outdated spreadsheets system and improve our income & expenses record. We have finally decided to go for it but due to the fact that no information has been recorded in the last couple of months the accounts balances are not accurate.
I am trying to take them all down to zero and update the bank account balance but I cannot find the path to do so. Would you kindly help me with this?
Thanks a lot!
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Hi, @SlipNFly,
Welcome aboard! We're more than happy to see you join us here on Wave and in the Community!
Is your objective to start from scratch? If so, you can delete all of your transactions on the transactions page and start fresh. Just go to the Transactions page and click the "Select all" box in the top left corner, and then click on delete.
Once that's done, you can follow the steps outlined here to properly move over to Wave. You'll learn to set the starting balance for all of your accounts, among a few other important steps in getting started.
Let me know if that helps!
That's brilliant! Thank you so much for the information.
What I wouldn't like to lose are the invoices (we have been using Wave just for this) and I noticed that by deleting the transactions the status of the invoices go back to unpaid. Is there a way of avoiding that?
Hi, @SlipNFly,
No, it isn't possible, unless you go through your transactions before deleting them and carefully uncheck your invoice payments. When invoice payments are deleted on the transactions page, they'll also be removed from the invoice they're attached to. If you do this, however, you might end up with duplicates when uploading your bank statements, since your invoice payments will also appear on there.
If you don't want to delete those transactions, you'll have to compare your bank statement to the transactions that appear on your Transactions page, one by one, and make sure that everything matches up. It's good practice to do this regularly nonetheless, as it's the best way to prevent errors from going unnoticed.