Business Credit Card throwing off Cash Balance

BFSolutions87

Hello,

This may because I am fairly new to Wave's accounting software but something very interesting is happening. I linked a Credit Card to the Wave app because that's what is used for all business expenses other than expenses that need to be drafted from a checking account.

When the expenses come through, I categorize them as appropriate (Income Statement Expenses). I double checked that the CC account is on the balance sheet as a liability, but my cash balance is way off. The only thing I can assume is that the software is doubling the CC expenses when the individual transactions post and then when the payments for the CC comes out of the Checking account.

Does anybody have any advice on how to remedy this situation specifically to Wave's software? I've never had this problem using other software before.

JamieD

Hey @BFSolutions87. I just thought I would confirm with you -- are you noticing duplicate transactions for these expenses? As in, are you creating a bill for the transaction (ex paying off a credit card) and then when the actually payment occurs through your banking, do you see another transaction? Please let us know so we can do a bit of further investigating!