Hi @tmcghee1 , I see that you've submitted a ticket to our Support team with the same request. Because this will most likely require some additional questions and possibly screenshots, I'll let the team take it from here over tickets. You should be receiving a response shortly!
Hey @catoholic , thanks for reaching out! How it would be recorded depends on the currencies of the accounts & where the exchange occurred. This Help Centre article explains the different circumstances for foreign currency in Wave, which should shed some light on how to record it for your situation!
I am taking over from a previous bookkeeper and am using Wave for the first time. I have the loan balance as of ending 2019. How do I enter that into Wave? This is not a new loan so there is no money going into the bank account. It seems that all the instructions I find say to debit the checking account but that puts the checking account out of balance.
It sounds like you are referring to accounting a loan using a journal transaction. That's correct, you will need to debit the checking account during the process. If doing so puts the account out of balance, it's possible that you have a bank connection that is importing loan transactions creating this discrepancy. If so, you can delete any transactions imported by the bank connection since the journal transaction will account for the imported data.
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How can I remove Wells Fargo -$8,300 and Wells Fargo $2,247.64, also A.M. Botte -$600.00 from my All TRANSACTIONS Screen?
Hi @tmcghee1 , I see that you've submitted a ticket to our Support team with the same request. Because this will most likely require some additional questions and possibly screenshots, I'll let the team take it from here over tickets. You should be receiving a response shortly!
Hi! My boss borrowed money from our company in USD and he repaid it in Maldivian Rufiyaa (MVR), how do I enter it to the system? Thank you.
Hey @catoholic , thanks for reaching out! How it would be recorded depends on the currencies of the accounts & where the exchange occurred. This Help Centre article explains the different circumstances for foreign currency in Wave, which should shed some light on how to record it for your situation!
I am taking over from a previous bookkeeper and am using Wave for the first time. I have the loan balance as of ending 2019. How do I enter that into Wave? This is not a new loan so there is no money going into the bank account. It seems that all the instructions I find say to debit the checking account but that puts the checking account out of balance.
Hey @DeeAnn !
It sounds like you are referring to accounting a loan using a journal transaction. That's correct, you will need to debit the checking account during the process. If doing so puts the account out of balance, it's possible that you have a bank connection that is importing loan transactions creating this discrepancy. If so, you can delete any transactions imported by the bank connection since the journal transaction will account for the imported data.