Tracking assets via investments

JS7319

Hi

I'm using the Personal section of the app to track my personal expenditure on my current accounts and credit cards. I have two questions:

1. What is the best way to categorise investments? Naturally these would be 'expenses' but they are also assets and can produce a return or gain. What method would I employ to best record this?

2. Wave has the ability to import credit card transactions which is great, but the app sees the transaction which clears a credit card via direct debt as a 'refund'. How can I tell the app that the payment where a credit is visible on the credit card, isn't a refund of anything but the payment coming from my current account to pay off my credit card. the card issuer simply adds a transaction line to demonstrate that I have credited my card.

Thanks

Samd

Hi @JS7319!

At the moment, Wave isn't set up for a thorough tracking of investments which can definitely pose a problem in this sense. That being said I would recommend categorizing them as assets. You could then track them using depreciation and amortization, which should be outlined thoroughly here: https://support.waveapps.com/hc/en-us/articles/208623506-How-do-I-handle-depreciation-and-amortization-

In terms of the second issue, it sounds like this might be occurring because of our auto-categorization feature. If you head over to Accounting > Transactions, it should be possible to re-categorize one of these payments as a Transfer, which should then prevent it from showing as income and instead as money moving from one account to another to pay off credit.

Let me know if this helps!