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Someone to just fine tune start up in wave and show me a few things

Foreste1Foreste1 Member Posts: 3

I have wave all set up and have done my own book keeping over the years but I am new to wave. I need somebody to just go over my chart of accounts and to just fine tune wave for my business. I am a little lost on how to get cost of goods in so when I sell something the profit is not 100% etc, and how to add merchant fee in when I sell on shopify and the deposit comes over with that fee taken out. We only have one product right now, very simple business with only 3-4 transactions so far

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    magicwillmagicwill Member Posts: 37 ✭✭

    To my knowledge, Wave isn't designed to automatically insert COGS when you generate an invoice. The process is a manual one and rather laborious. Most small business owners are more conveniently served by simply coding all product purchases directly to a COGS account rather than to inventory. I'd be happy to work with you in designing an appropriate process to allow you to arrive at an accurate year-end COGS picture. I can also explain how to deal with the merchant fee problem you describe. My e-mail is willsaddler48@yahoo.com and I'm a Wave Pro adviser (listed here as WJS Consulting).

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    IkramIkram Member Posts: 3

    @Foreste1 said:
    I have wave all set up and have done my own book keeping over the years but I am new to wave. I need somebody to just go over my chart of accounts and to just fine tune wave for my business. I am a little lost on how to get cost of goods in so when I sell something the profit is not 100% etc, and how to add merchant fee in when I sell on shopify and the deposit comes over with that fee taken out. We only have one product right now, very simple business with only 3-4 transactions so far

    Hi Foreste,
    I am qualified accountant having 6 years of experience in accounting (bookkeeping) and advisory services in public accounting firms. I can assist you in this task and manage it efficiently and effectively. You may find me on linkedIn at linkedin.com/in/ikram-ul-haq-2744a440.
    You can contact me on ikramabubakr@yahoo.com. Looking forward to hear from you soon.

    Best Regards,
    Ikram Ul Haq

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    carelcarel Member Posts: 4

    After an estimate has been accepted and paid, How does one save that estimate? I do understand that different estimate statuses are not yet available. BUT if one goes to the "Filter" tab then there is a "saved" option under the Status drop down.

    Thus my question, How does one save an estimate?

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    AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi, @carel,

    I followed up with you in the discussion you started, let's continue talking there.

    In the future, please only post your question once. If you can't find a discussion on the subject already, you're welcome to start a new discussion. The admin team reads every post shared on the Community, and we'll get to your question as soon as we can if a fellow Waver hasn't answered already. Thank you.

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