We generated two invoices to a customer.
Customer decided to do partial payment for those invoice on their Credit Card.
Since they paid by Credit Card, how do I split the payment in Wave?
I got a bulk payment for several invoices. It was easy enough splitting the bulk deposit, but I cannot seem to merge the separate amounts with the different Invoices anymore. What am I doing wrong?
Hi @GregCh! This sounds like it could be a bit more complex! Just to confirm what has happened, did your customer pay directly on one of the invoices? So at the moment, one invoice has 'two' partial payments applied to it when this should be split across the two invoices separately?
Hi @CronjeDesignCo! If you have split the bulk deposit you should be able to categorize each split as 'Payment received for an Invoice' and then select the outstanding invoice it applies to. If you had previously recorded payments to the invoice so they were marked as 'paid' it will be best to remove the payment from the invoice so you can categorize the bulk deposit correctly.
I have been reading all the comments, so I'm clear if I make a bulk deposit of 3 cheques for $300, $700 and $500 my connect bank deposits shows a deposit for $1500. If I split that bank transaction in Wave into 3 parts I can not then merge those 3 payments to the matching invoices? I just delete the bank deposit transaction and use Paid Invoice transaction for my records?
Would it be possible to add a feature so that when you do the splitting, instead of having to manually write the amount for each split, that we can put a percentage instead? So if my expense is 200$ and I split it in 2 category and mark them as 80% and 20% and it automaiticlaly calculate 160$ and 40$ ??
I would find this feature to be useful for the type of expense that are partially made for the business. Exemple, I use 50% of my rent expense for business purpose. It would make all those sort of split expense so much easier !
@Deancas You're correct in your explanation. In saying that, it sounds like there might actually be a more streamlined way for you to assign the split transactions to your invoice that wouldn't involve merging the transaction.
It sounds like the workflow that you are currently doing is marking the invoice as paid (which creates the transaction in Wave) and also importing your transactions. In this scenario, then yes, you would need to merge. In saying that, you could remove a step and for any income transaction in Wave, you could select the category "Income for an Invoice in Wave" and this will assign the payment to the invoice, and bypass having the income transaction created. This will also mark the invoice as paid for you and will avoid the issue with duplicates
Hello,
I received a bulk payment for three invoices. I split the transaction and categorized by assigning the invoices. Shouldn't this categorization automatically split the amount as well instead of manually entering them or am I doing something wrong when I split a transaction?
Thanks!
Is there a way to split a transaction among income, expense, and balance sheet accounts? An example of this would be recording a personal W2 paycheck. There is a gross income amount (I can record this income), there are expense withholdings (fed taxes, medical insurance which I am able to record as a discount or fee), and a reitrement account withholding. I am struggling to find a way to assign the retirement withholding directly to my investment asset account.
Hey @CNSltd , to be clear, when you say you're assigning the invoice are you doing it through the transaction itself by categorizing to Payment received for an Invoice in Wave? If so, this should allow you to automatically assign to the necessary invoice.
Hi @Alex_J . Where exactly under Assets is your investment asset account located? Let me know.
@AlexL yes I am:
1) Wave auto-imported the bulk payment from my connected bank account.
2) In Transactions, I went to edit the bulk payment.
3) In the edit window, I split the transactions by selecting the invoices from the dropdown menu.
4) So the invoices get paid, but the amounts are not assigned, I have to assign them myself.
Isn't there a way for the amounts to get assigned automatically once I select the invoices?
I have a regular transaction to my bank account that contains Income (commissions) Expenditure (Fees) and the balance to the balance sheet (Liability Account) The Income and expenditure both contain a tax component. So the ultimate transactions are Credit Bank, Credit Income, Credit Tax, Debit Expenditure, Debit Tax and Debit Liability. My previous system allowed me to do one journal to all of these accounts including flagging which ones include tax. How would I do this within Wave?
Hi @PGH , thanks for your message! You can accomplish this in Accounting > Transactions > More (top right corner) > Journal, and you can enter as many line items as you need. You can add line items to taxes in the journal as well. Just type in 'tax', and your existing taxes should populate, with options to choose liability or asset depending on whether the tax was collected or paid.
In recent months, if you accidentally put the incorrect amounts in each line - i.e. it's short of the total amount, it takes you to a page where it says "something is broken" and you can't naviate back to transactions. This is really, really poor error handling and so user-UNfriendly. It should be able to show a message on the same page (or popup) and NOT save, rather than totally kick you out - as it used to do..
Wow, this is a lot of steps. When I was using QB, all I had to do was go into "receive payments" and click the box next to the payments that my client included into one check. Hopefully, you guys can come up with an easier way. Most of my clients pay multiple invoices with one check.
Hey there @fido! Thanks for bringing this to our attention. I was able to reproduce this error on my end as well. This appears to be a bug that shouldn't occur. I have since escalated this bug to our internal teams so this will be addressed in the future.
I get the following error when trying to split fees from invoice payment. The original deposit amount doesn't change when the split is entered.
errors: {transactions: {,…}}
transactions: {,…}
0: {all: [{message: "Transaction line items in the transaction currency are under balanced.",…}]} all: [{message: "Transaction line items in the transaction currency are under balanced.",…}]
0: {message: "Transaction line items in the transaction currency are under balanced.",…}
error_type: "LINE_ITEM_AMOUNT_UNDERBALANCED"
message: "Transaction line items in the transaction currency are under balanced."
variables: {difference: "44.15"}
My bank deposits regularly include both income and refunds but the transaction page will not allow me to split using negative amounts in order to assign both payments and refunds to invoices??
I can obviously create separate manual transactions but they will no longer show up as amounts matching my bank transactions and remembering manual splits over time is a non starter...
Hey @specific ! It sounds like the split you are trying to enter does not equate to the transactions total amount. To record a successful split, the split amounts need to equal the total transaction amount. If the transaction is split correctly and you are still experiencing issues, do you mind sending me a screenshot of the transaction you are trying to split so I can investigate this further?
Hey @Jymbag ! Do you mind clarifying the type of transaction(s) you are trying to split. If a bulk deposit (income) is imported into your account like a bulk payout for example, then you can split the income transaction accordingly to record the appropriate invoice payments. On the other hand, if a bulk withdrawal (expense) transaction is imported into your account, then you can split it accordingly to account for invoice refunds or any other expenses it is affiliated with. I hope this helps!
@JulianP I'm able to split the transaction if I subtract the fees from the total amount before pressing "Split this deposit." I assumed it would do that automatically when splitting the fee. Is that how it's supposed to work? Here's a screenshot of the transaction.
Thanks Julian,
It is very clear that I can split a bulk deposit as well as a bulk expense but my bulk deposits also include refunds. e.g. my deposit may be $1,000 but it might be made up of $1,100 income and $100 refund. What I don't seem to be able to do is split and achieve a positive $1,100 and a negative $100.
I do see this type of split in Specific's screen cap above but do not know how to achieve as the system will not allow me to enter a negative number or allow me to select an expense account that might flip the number from positive to negative...
He @Jymbag , we do have an article that will show you how to add a negative amount into your transaction, but this is usually used for Merchant/Transaction fees. Check it out in the Help Center article here.
Thanks AlexL, Yes, selecting "fees" will change the amount to negative and opens up the opportunity to select other expense accounts or refund categories which is exactly what I am looking for BUT unfortunately, when I select any other account, it immediately turns the amount back to a positive defeating the purpose and brings me back to my original issue. There must be many people that receive their income and refunds via blended CC deposits and that have the same issue...
Hey there @specific ! Thanks for sharing that screenshot with me. Unfortunately, certain payment platforms like Paypal import their data with the processing fees deducted.
Your split looks correct. The fee is supposed to be added as a negative value so the split can match the transactions total amount. We have a great guide on this that you can check out for more insight here: How to account for transaction fees
Hello @Jymbag ! Since refunds are not included for income deposit transactions, you can create a new expense transaction and mark it as a "Refund sent for an invoice in Wave".
Thank you, I am aware of the workaround. The issue with that is that my Wave transactions no longer match up to my bank statements for reconciliation. I have to inflate the deposit and counter with a manual expense which no longer matches the bank statement making reconciling a challenge to remember which transactions were altered. It still seems to make sense that you should be able to include both positive and negative amounts as long as the result is the same as the initial deposit. Hope this can be achieved at some point.
I have looked all around and can not seem to find a explanation of how to assign a bulk payment to a vendor for multiple invoices. I have put the invoices into Wave then when the bank statement comes over that the payment has been made how do I attach all of the bills to the one payment. So far I have deleted the payment the bank shows and applied the payment to each bill separately. this then show the smaller amounts in the register and not the full payment as a lump. What am I doing wrong.
Hey @CG_89131 , at the moment there's no way in Wave to accomplish the function of assigning multiple payments to Bills. What you can do however is split the lumpsome payment transaction into different amounts and categorize each one to "payment sent for a bill in Wave" then selecting the Bill. This will save you having to mark the Bills as paid themselves and deleting the transaction.
I want to second @Jymbag 's issue with addressing bulk deposits that include both payments and refunds on invoices. The work around of creating two new separate transactions to record the income(s) separately from the expense(s) defeats the purpose of importing transactions to make for easy monthly reconciliation. There should be an option to record both positive and negative income in a split transaction -- record both payment and refund on invoice.
Comments
Problem solved - user error. I just applied a customer payment to 2 invoices (split), one invoice is still showing overdue?
We generated two invoices to a customer.
Customer decided to do partial payment for those invoice on their Credit Card.
Since they paid by Credit Card, how do I split the payment in Wave?
I got a bulk payment for several invoices. It was easy enough splitting the bulk deposit, but I cannot seem to merge the separate amounts with the different Invoices anymore. What am I doing wrong?
Hi @GregCh! This sounds like it could be a bit more complex! Just to confirm what has happened, did your customer pay directly on one of the invoices? So at the moment, one invoice has 'two' partial payments applied to it when this should be split across the two invoices separately?
Hi @CronjeDesignCo! If you have split the bulk deposit you should be able to categorize each split as 'Payment received for an Invoice' and then select the outstanding invoice it applies to. If you had previously recorded payments to the invoice so they were marked as 'paid' it will be best to remove the payment from the invoice so you can categorize the bulk deposit correctly.
I have been reading all the comments, so I'm clear if I make a bulk deposit of 3 cheques for $300, $700 and $500 my connect bank deposits shows a deposit for $1500. If I split that bank transaction in Wave into 3 parts I can not then merge those 3 payments to the matching invoices? I just delete the bank deposit transaction and use Paid Invoice transaction for my records?
Would it be possible to add a feature so that when you do the splitting, instead of having to manually write the amount for each split, that we can put a percentage instead? So if my expense is 200$ and I split it in 2 category and mark them as 80% and 20% and it automaiticlaly calculate 160$ and 40$ ??
I would find this feature to be useful for the type of expense that are partially made for the business. Exemple, I use 50% of my rent expense for business purpose. It would make all those sort of split expense so much easier !
@Deancas You're correct in your explanation. In saying that, it sounds like there might actually be a more streamlined way for you to assign the split transactions to your invoice that wouldn't involve merging the transaction.
It sounds like the workflow that you are currently doing is marking the invoice as paid (which creates the transaction in Wave) and also importing your transactions. In this scenario, then yes, you would need to merge. In saying that, you could remove a step and for any income transaction in Wave, you could select the category "Income for an Invoice in Wave" and this will assign the payment to the invoice, and bypass having the income transaction created. This will also mark the invoice as paid for you and will avoid the issue with duplicates
Hello,
I received a bulk payment for three invoices. I split the transaction and categorized by assigning the invoices. Shouldn't this categorization automatically split the amount as well instead of manually entering them or am I doing something wrong when I split a transaction?
Thanks!
Is there a way to split a transaction among income, expense, and balance sheet accounts? An example of this would be recording a personal W2 paycheck. There is a gross income amount (I can record this income), there are expense withholdings (fed taxes, medical insurance which I am able to record as a discount or fee), and a reitrement account withholding. I am struggling to find a way to assign the retirement withholding directly to my investment asset account.
Hey @CNSltd , to be clear, when you say you're assigning the invoice are you doing it through the transaction itself by categorizing to Payment received for an Invoice in Wave? If so, this should allow you to automatically assign to the necessary invoice.
Hi @Alex_J . Where exactly under Assets is your investment asset account located? Let me know.
@AlexL It is classed as an "Other Long Term Asset."
@AlexL yes I am:
1) Wave auto-imported the bulk payment from my connected bank account.
2) In Transactions, I went to edit the bulk payment.
3) In the edit window, I split the transactions by selecting the invoices from the dropdown menu.
4) So the invoices get paid, but the amounts are not assigned, I have to assign them myself.
Isn't there a way for the amounts to get assigned automatically once I select the invoices?
Hey there @Alex_J
Unfortunately there is no way to split an income account to other expense accounts. The way to achieve this would be to create journal transactions.
Example:
Income = $1000
Hopefully this workaround helps!
Hey there @CNSltd
At this point, it does not auto assign the remaining values to the invoices however check out THIS POINT about future updates that should fix this
I have a regular transaction to my bank account that contains Income (commissions) Expenditure (Fees) and the balance to the balance sheet (Liability Account) The Income and expenditure both contain a tax component. So the ultimate transactions are Credit Bank, Credit Income, Credit Tax, Debit Expenditure, Debit Tax and Debit Liability. My previous system allowed me to do one journal to all of these accounts including flagging which ones include tax. How would I do this within Wave?
Hi @PGH , thanks for your message! You can accomplish this in Accounting > Transactions > More (top right corner) > Journal, and you can enter as many line items as you need. You can add line items to taxes in the journal as well. Just type in 'tax', and your existing taxes should populate, with options to choose liability or asset depending on whether the tax was collected or paid.
In recent months, if you accidentally put the incorrect amounts in each line - i.e. it's short of the total amount, it takes you to a page where it says "something is broken" and you can't naviate back to transactions. This is really, really poor error handling and so user-UNfriendly. It should be able to show a message on the same page (or popup) and NOT save, rather than totally kick you out - as it used to do..
Wow, this is a lot of steps. When I was using QB, all I had to do was go into "receive payments" and click the box next to the payments that my client included into one check. Hopefully, you guys can come up with an easier way. Most of my clients pay multiple invoices with one check.
Hey there @fido! Thanks for bringing this to our attention. I was able to reproduce this error on my end as well. This appears to be a bug that shouldn't occur. I have since escalated this bug to our internal teams so this will be addressed in the future.
I get the following error when trying to split fees from invoice payment. The original deposit amount doesn't change when the split is entered.
errors: {transactions: {,…}}
transactions: {,…}
0: {all: [{message: "Transaction line items in the transaction currency are under balanced.",…}]}
all: [{message: "Transaction line items in the transaction currency are under balanced.",…}]
0: {message: "Transaction line items in the transaction currency are under balanced.",…}
error_type: "LINE_ITEM_AMOUNT_UNDERBALANCED"
message: "Transaction line items in the transaction currency are under balanced."
variables: {difference: "44.15"}
My bank deposits regularly include both income and refunds but the transaction page will not allow me to split using negative amounts in order to assign both payments and refunds to invoices??
I can obviously create separate manual transactions but they will no longer show up as amounts matching my bank transactions and remembering manual splits over time is a non starter...
Hey @specific ! It sounds like the split you are trying to enter does not equate to the transactions total amount. To record a successful split, the split amounts need to equal the total transaction amount. If the transaction is split correctly and you are still experiencing issues, do you mind sending me a screenshot of the transaction you are trying to split so I can investigate this further?
Hey @Jymbag ! Do you mind clarifying the type of transaction(s) you are trying to split. If a bulk deposit (income) is imported into your account like a bulk payout for example, then you can split the income transaction accordingly to record the appropriate invoice payments. On the other hand, if a bulk withdrawal (expense) transaction is imported into your account, then you can split it accordingly to account for invoice refunds or any other expenses it is affiliated with. I hope this helps!
@JulianP I'm able to split the transaction if I subtract the fees from the total amount before pressing "Split this deposit." I assumed it would do that automatically when splitting the fee. Is that how it's supposed to work? Here's a screenshot of the transaction.
Thanks Julian,
It is very clear that I can split a bulk deposit as well as a bulk expense but my bulk deposits also include refunds. e.g. my deposit may be $1,000 but it might be made up of $1,100 income and $100 refund. What I don't seem to be able to do is split and achieve a positive $1,100 and a negative $100.
I do see this type of split in Specific's screen cap above but do not know how to achieve as the system will not allow me to enter a negative number or allow me to select an expense account that might flip the number from positive to negative...
He @Jymbag , we do have an article that will show you how to add a negative amount into your transaction, but this is usually used for Merchant/Transaction fees. Check it out in the Help Center article here.
Thanks AlexL, Yes, selecting "fees" will change the amount to negative and opens up the opportunity to select other expense accounts or refund categories which is exactly what I am looking for BUT unfortunately, when I select any other account, it immediately turns the amount back to a positive defeating the purpose and brings me back to my original issue. There must be many people that receive their income and refunds via blended CC deposits and that have the same issue...
Hey there @specific ! Thanks for sharing that screenshot with me. Unfortunately, certain payment platforms like Paypal import their data with the processing fees deducted.
Your split looks correct. The fee is supposed to be added as a negative value so the split can match the transactions total amount. We have a great guide on this that you can check out for more insight here: How to account for transaction fees
Hello @Jymbag ! Since refunds are not included for income deposit transactions, you can create a new expense transaction and mark it as a "Refund sent for an invoice in Wave".
Thank you, I am aware of the workaround. The issue with that is that my Wave transactions no longer match up to my bank statements for reconciliation. I have to inflate the deposit and counter with a manual expense which no longer matches the bank statement making reconciling a challenge to remember which transactions were altered. It still seems to make sense that you should be able to include both positive and negative amounts as long as the result is the same as the initial deposit. Hope this can be achieved at some point.
I have looked all around and can not seem to find a explanation of how to assign a bulk payment to a vendor for multiple invoices. I have put the invoices into Wave then when the bank statement comes over that the payment has been made how do I attach all of the bills to the one payment. So far I have deleted the payment the bank shows and applied the payment to each bill separately. this then show the smaller amounts in the register and not the full payment as a lump. What am I doing wrong.
Hey @CG_89131 , at the moment there's no way in Wave to accomplish the function of assigning multiple payments to Bills. What you can do however is split the lumpsome payment transaction into different amounts and categorize each one to "payment sent for a bill in Wave" then selecting the Bill. This will save you having to mark the Bills as paid themselves and deleting the transaction.
I want to second @Jymbag 's issue with addressing bulk deposits that include both payments and refunds on invoices. The work around of creating two new separate transactions to record the income(s) separately from the expense(s) defeats the purpose of importing transactions to make for easy monthly reconciliation. There should be an option to record both positive and negative income in a split transaction -- record both payment and refund on invoice.