Daily Sales - bank statements

gingerfox

Hi
I am new to Wave. I run a small cafe as a sole trader. I have imported my bank statements to Wave which is great BUT I also would to input my daily sales totals. My obvious issue is that if I add in my daily sales totals I will be doubling up on some of the payments eg card payments and cash paid into the account. Is there a way of recording the daily sales separately from the bank transactions or an alternative way to do this? Thanks

Erik

Hi @gingerfox, the answer here may depend on what you are looking for in the end result.

One way to record sales and deposits separately without duplicating your income would be by categorizing your sales into a "Money in Transit" account. Once you receive the deposit and it is recorded in Wave via your bank statement uploads, you can categorize the deposit as a transfer from this "Money in Transit" account.

You can learn more about this workflow in our Help Center guide here: https://support.waveapps.com/hc/en-us/articles/360000389783-Recording-Check-Payments-in-Transit

While the article goes over check payments, this can apply to any events that involve a delay between the payment being made and the deposit being received.