Sales Tax
Damion
Member Posts: 3
Why can't you select multiple transactions in Wave and add sales tax (HST) to multiple records. This would save hours of work each week. Currently you have to hover over the transaction and manually add HST to each transaction.
Even having Sales Tax as a column with a check box would help. Then it would let me know what transactions (sales or purchases) that I have already finished marking for HST.
Also, since we need to categorize all our expenses, why not have an option under categories for adding a sales tax (HST) or not to each category. Then you only have to categorize everything and the default of adding or not adding the sales tax would be done already. 95% would be complete if you set-up your categories correctly and then you only have to change a couple transactions.
As a work around, I download all the transactions and do everything in Excel in a matter of minutes, which is not good for my records or proper accounting.
Please help......this would take developers a couple days to implement but would save the Wave community big money.
If there is a better way to do this in Wave, then please let me know.
Comments
I have the same question.
Hi, @Damion and @kymber65,
It is possible to do this with the updated version of Wave, but neither of your accounts has been migrated to the new version yet. We're working to bring you these updates as soon as possible, but we have to be careful in doing so to ensure the integrity of your data. I can't give a timeline for when this will happen, as we're migrating accounts gradually as the resources become available, but we hope to be done with the migration in the coming few months.
In short, this feature, as well as many others, is on its way to you.
Thanks Alexia. Is there a way to sign-up for the new version? or do we just wait?
@Damion Thanks so much for your interest! All accounts are being moved over to the new platform as quickly as we can. I don't have a specific ETA for your account, but you'll get access soon. You'll receive an email about a week before you'll be moved over.
How can I tell if my account is on the new or old platform? Thanks
Hi @TxnJackson, just looked up your account - you're on the new platform!
For anyone else who's wondering, any Wave account created in 2018 onward are automatically on our new platform. If you created your account before 2018, one of the easiest ways to check whether you've been migrated to our new platform is by logging into Wave and clicking on Accounting in the right navigation pane. If you see a subcategory called "Journal transactions," then you're on our old platform (and we're working hard to migrate you to our new platform as soon as we can!) If you don't see this subcategory, then you're on our new platform.
@amandak @Charlotte it has been over 2 months. I really need the new functionality to properly account for my HST. I am seriously considering moving to Quickbooks to start fresh in January, 2019 if my account does not get upgraded. Please help.
Hi I was just migrated and it seems pretty good, I have a question. Is there a way to apply the sales tax automatically as a batch for all of my previous transactions? My year end was Sept 30, so I have been waiting for the upgrade.
I hate to go through each transaction one by one.
Hey @kymber65, you should be able to! You'll still have to manually go through and check the boxes next to each transaction you're hoping to add a tax to. You can also narrow down your transactions page to just display specific accounts and select all if you it will apply to all transactions there.
Then you'll want to select 'Edit', and in the pop up select Change: Tax, and To: your new tax you want to apply.