I changed bank accounts - how to post transaction?

sidefly

Hello, I switched banks and moved all my money. How do classify the category in Wave? I only have one income account right now (membership fees), but when I use that category it looks like my membership fees increased on the reporting. Do I create a new income account or post it some other way? Thanks in advance for your help

Ryan_W

Hey @sidefly,

If you have a new bank account which you'll be using to post your transactions in Wave, you'll need to set this up in your Chart of Accounts. If this is a payments account (i.e., you use this bank account in real life to make payments out of, and receive payments into), like a business or personal checking account, you'd want to set up an Asset account, rather than an Income account. Then, when you connect this bank account to Wave, or upload a bank statement, you'd assign it to the specific Asset account you've created. I hope that helps!