Why do all transactions automatically get added to your business? Most other accounting software doesn't add them until you review/verify.
This is pretty unfortunate when your bank accounts aren't 100% dedicated to the business, or when you need to run a transaction by your accountant. It's hard to get a snapshot of your business if you're not 100% up to date and accurate on reviewing your transactions.
In the previous version we could see the balance after each transaction on the same line and by un-Reviewing we could remove a particular transaction value temporary from the account total and reconciliat easily. now all these features are missing!
Hi @Kaminda911 . We've made some changes to our reconciliation process in the new platform. You can now reconcile through our Reconciliation page located under the Accounting tab. The workflow for this has changed, and we're definitely looking to refine it even more so in the future with feedback from our users. Take a look at the article here for further information on howthe new process works. T
In terms of verifying/reviewing transactions, as Ryan mentioned a little bit further up on Feb 4th, the old platform's verify workflow had some very specific benefits, but the updated workflow was established--by design--to make it easier to maintain error-free books.
Hey @carol_p, I'm sorry to hear that! Did you have any feedback in terms of what you'd like to see that hasn't been covered yet in this thread? Or to second any particular feature implementations (or de-implementations)?
I am so grateful that "the updated workflow was established--by design--to make it easier to maintain error-free books."
THANK YOU to the designers who take into account that accounting is not every person's strength and that some, like me, don't have the time or inclination to learn a new career just to keep books. I can focus on my vocation and feel confident that, by following these very simple protocols, the books will be accurate.
@JordanFromWave said: @VSB_Guy Thanks for your feedback on the reconciliation feature as it currently exists. This feature is one that is looking to be worked on through 2019 so you can expect to see new updates and features added to make the reconciliation process more robust. Other than being able to complete weekly reconciliations, would there be any other features in terms of reconciliation that you would add to a potential wishlist?
@Connie when we are thinking of potential feature adds, we typically think how we would be able to add features that are broad enough to benefit many of our users on an industry basis. It seems as though the situation that you have explained is more of a business operation and I wonder how many other users may benefit from this sort of functionality. Before I can escalate this, I'd love to hear if there are any other users who would find a report like this useful and how they would be using it.
Hello, it would be great if we can print a JE! That is how we sign off document and prove entry completed here. I believe most companies would prefer to have such feature so they can have printout backup.
Why have you included the Short Term Asset ledgers into Reconciliation?
I think only Bank and Cash Ledgers are reconciled. I have created Fixed Deposits and individual mutual funds in Short term assets. I have also created Tax deducted at source in Bank and cash to map the invoice receipts. All these ledgers are reflecting in the Reconciliation section.
What is the logic of having all of these ledger in this section?
Hi,
I need some help please. My bank is not reconciling with Wave. The previous months are reconciled.
The totals on Wave and on my Bank Statement are the same. The amount of transactions on Wave and Bank statements are the same. I have compared 5 times now, my husband 2 times, so 7 times in total. Still no difference.
But what I don't understand, if all the totals match up, for the end of the month, it should reconcile?
Please advise on this, as I do not understand the total thing.
Hi @Karen4 - this definitely sounds like a bug we're going to need to look into, as if these totals are matching things should definitely reconcile. Would you be able to submit a ticket here: https://support.waveapps.com/hc/en-us/requests/new? You should be able to copy this post in as well. If you're comfortable with doing so, I'd recommend authorizing one of us to take a look as a collaborator to dig in further so that we can escalate this to the appropriate team!
Hi @EllieT . Thanks for putting this on our radar. Feel free to reach out to the Support team in the link that Sam provided above so that we can take a further look.
I do not see where you can reconcile a credit card statement. I have reviewed the transactions but i am unable to reconcile my credit cards. Please advise.
Guys, how long should it normally take for transactions that have hit the bank (and are reflected in the bank balance on the 'dashboard' page) to become visible and available for classification on the Accounting/Transactions page?
I've waited 30 minutes and they're not showing up. Is this normal?
Hey @Bogo, thanks for reaching out. Your transactions should be imported by now, if you are still not seeing them, can you try refreshing the connection? You can do so by:
1. Click Banking > Bank Connections
2. Find your bank in the list of connections
3. Click "Edit Bank Credentials" and re-enter your login information for your bank account
4. Save and update now.
5. Repeat steps 2-4 about 3 times
If you are still having issues, there may be an error with the connection itself, if so can you pop me a DM with the name of the bank you are having the issue with, your email & business name, I can take a look on my end at what might be going on.
Just a quick question. When I mark a transaction as reviewed in any screen does it stay as reviewed in other screens? For example if I'm in the transactions log page and I mark a transaction as reviewed then a couple of weeks later when I reconcile the account will it still be marked as reviewed in the reconciliation page? This doesn't seem to be the case which is extremely frustrating because I'm essentially doing it twice when I do my books weekly but reconcile monthly....
Hey @mommyof4grlz . Marking a transaction as reviewed in the Transactions page does not in fact carry over to the Reconciliation process. I think the original reason for this was that so you can check your transactions on the go in your Transactions page, but when it comes time to reconcile, if your balances are still of then you have the choice to go through the transactions one by one again. Additionally, if you already went through your Transactions page and reviewed your transactions and reconciliation is still finding a discprency, you'd want to go through that review process again.
How can one 'UNreview" in bulk and then HIDE those reviewed? I have now got literally thousands of transactions previously 'verified' and filtered out. The changes to personal accounting has completely mucked up my system. NOT a happy camper!!!
Hi @ingzthingz . Can you further explain what happened to your Personal account with the migration?
To answer your question, you can't unreview in bulk but you can filter for which transactions you want to see in your Transactions page (reviewed or not reviewed). To do so, click the Filter button at the top of the page, and select which Status you want to filter for.
And right there is my first problem. Initially I 'reviewed all' because they were previously verified and correct. But that was before I discovered the convoluted process I now have to go through to sort out my private transactions. Some have retained the categories, most have not. Now its a mess.
Basic of basic questions:
When I am entering details for a transaction and I have everything in, do I need to click both "reviewed" and "save" or does "reviewed" also save?
Hey @Chrsfrncs! You'll want to make sure to hit 'Save' as well, just to keep everything up to date! The Save feature is independent of Reviewing a transaction.
Hey @JenniferM! You can definitely filter out the verified transactions. If you navigate to Accounting > Transactions, you should see the "Filter" option along the top of the page. Here there will be a checkbox that will allow you to filter by status. The screenshot below should help you to visualize where to find this!
I have 75 transactions from the start of my business year 1 April 2020. I have checked each line with my bank statement three times now but the amount in my bank v the wave amount doe not match. Is there something I am doing wrong?
Hey @LouDNZ! This is definitely a bit of a tricky one! What are you seeing as far as those discrepancies go? Can you explain in a bit further detail what you're seeing on your end?
I almost always only want to see unreviewed transactions. To do so, I use the filter to separate. As I move around through Wave and come back to the transaction page, I have to redo the filter every time in order to see the unreviewed transactions only. Is there a way to set up a default filter view or at least hold the current filter while one navigates from area to area within Wave?
PS - the previous incarnations of Wave defaulted to unreviewed which was great...
I reconciled 2 years at one time and marked every transaction as reviewed while I was reconciling. Due to duplication issues with the bank connection I expected to be able to filter by Unreviewed transactions but EVERY reviewed transaction is now unchecked. Unable to Filter
Comments
Why do all transactions automatically get added to your business? Most other accounting software doesn't add them until you review/verify.
This is pretty unfortunate when your bank accounts aren't 100% dedicated to the business, or when you need to run a transaction by your accountant. It's hard to get a snapshot of your business if you're not 100% up to date and accurate on reviewing your transactions.
In the previous version we could see the balance after each transaction on the same line and by un-Reviewing we could remove a particular transaction value temporary from the account total and reconciliat easily. now all these features are missing!
Hi @Kaminda911 . We've made some changes to our reconciliation process in the new platform. You can now reconcile through our Reconciliation page located under the Accounting tab. The workflow for this has changed, and we're definitely looking to refine it even more so in the future with feedback from our users. Take a look at the article here for further information on howthe new process works. T
In terms of verifying/reviewing transactions, as Ryan mentioned a little bit further up on Feb 4th, the old platform's verify workflow had some very specific benefits, but the updated workflow was established--by design--to make it easier to maintain error-free books.
Hey @carol_p, I'm sorry to hear that! Did you have any feedback in terms of what you'd like to see that hasn't been covered yet in this thread? Or to second any particular feature implementations (or de-implementations)?
I am so grateful that "the updated workflow was established--by design--to make it easier to maintain error-free books."
THANK YOU to the designers who take into account that accounting is not every person's strength and that some, like me, don't have the time or inclination to learn a new career just to keep books. I can focus on my vocation and feel confident that, by following these very simple protocols, the books will be accurate.
Hey @Alina! Thanks for the great feedback and taking the time to let us know! We really appreciate it
Hello, it would be great if we can print a JE! That is how we sign off document and prove entry completed here. I believe most companies would prefer to have such feature so they can have printout backup.
Why have you included the Short Term Asset ledgers into Reconciliation?
I think only Bank and Cash Ledgers are reconciled. I have created Fixed Deposits and individual mutual funds in Short term assets. I have also created Tax deducted at source in Bank and cash to map the invoice receipts. All these ledgers are reflecting in the Reconciliation section.
What is the logic of having all of these ledger in this section?
Hi,
I need some help please. My bank is not reconciling with Wave. The previous months are reconciled.
The totals on Wave and on my Bank Statement are the same. The amount of transactions on Wave and Bank statements are the same. I have compared 5 times now, my husband 2 times, so 7 times in total. Still no difference.
But what I don't understand, if all the totals match up, for the end of the month, it should reconcile?
Please advise on this, as I do not understand the total thing.
Thanks
Hi @Karen4 - this definitely sounds like a bug we're going to need to look into, as if these totals are matching things should definitely reconcile. Would you be able to submit a ticket here: https://support.waveapps.com/hc/en-us/requests/new? You should be able to copy this post in as well. If you're comfortable with doing so, I'd recommend authorizing one of us to take a look as a collaborator to dig in further so that we can escalate this to the appropriate team!
I am having the same problems as Karen4 with reconciliation, all my entries match up but Wave says I'm way out. Please fix this soon please
Hi @EllieT . Thanks for putting this on our radar. Feel free to reach out to the Support team in the link that Sam provided above so that we can take a further look.
Hey @bhuisken ! Have you gone to the Reconciliation tab under Accounting and switched the accounts around so that the credit card option is selected? If so, I would be happy to look into this a little bit further for you (please send me a screenshot with more detail), but in the meantime, take a look at this help centre article here: https://support.waveapps.com/hc/en-us/articles/115004964003-Bank-reconciliation-upgrade-Keep-your-books-in-order-stay-on-top-of-your-accounting
Guys, how long should it normally take for transactions that have hit the bank (and are reflected in the bank balance on the 'dashboard' page) to become visible and available for classification on the Accounting/Transactions page?
I've waited 30 minutes and they're not showing up. Is this normal?
Hey @Bogo, thanks for reaching out. Your transactions should be imported by now, if you are still not seeing them, can you try refreshing the connection? You can do so by:
1. Click Banking > Bank Connections
2. Find your bank in the list of connections
3. Click "Edit Bank Credentials" and re-enter your login information for your bank account
4. Save and update now.
5. Repeat steps 2-4 about 3 times
If you are still having issues, there may be an error with the connection itself, if so can you pop me a DM with the name of the bank you are having the issue with, your email & business name, I can take a look on my end at what might be going on.
Just a quick question. When I mark a transaction as reviewed in any screen does it stay as reviewed in other screens? For example if I'm in the transactions log page and I mark a transaction as reviewed then a couple of weeks later when I reconcile the account will it still be marked as reviewed in the reconciliation page? This doesn't seem to be the case which is extremely frustrating because I'm essentially doing it twice when I do my books weekly but reconcile monthly....
Hey @mommyof4grlz . Marking a transaction as reviewed in the Transactions page does not in fact carry over to the Reconciliation process. I think the original reason for this was that so you can check your transactions on the go in your Transactions page, but when it comes time to reconcile, if your balances are still of then you have the choice to go through the transactions one by one again. Additionally, if you already went through your Transactions page and reviewed your transactions and reconciliation is still finding a discprency, you'd want to go through that review process again.
How can one 'UNreview" in bulk and then HIDE those reviewed? I have now got literally thousands of transactions previously 'verified' and filtered out. The changes to personal accounting has completely mucked up my system. NOT a happy camper!!!
Hi @ingzthingz . Can you further explain what happened to your Personal account with the migration?
To answer your question, you can't unreview in bulk but you can filter for which transactions you want to see in your Transactions page (reviewed or not reviewed). To do so, click the Filter button at the top of the page, and select which Status you want to filter for.
And right there is my first problem. Initially I 'reviewed all' because they were previously verified and correct. But that was before I discovered the convoluted process I now have to go through to sort out my private transactions. Some have retained the categories, most have not. Now its a mess.
Basic of basic questions:
When I am entering details for a transaction and I have everything in, do I need to click both "reviewed" and "save" or does "reviewed" also save?
Hey @Chrsfrncs! You'll want to make sure to hit 'Save' as well, just to keep everything up to date! The Save feature is independent of Reviewing a transaction.
Is there a way to filter out unreviewed transactions? I want to be able to see all my unreviewed transactions so I can review them all.
Hey @JenniferM! You can definitely filter out the verified transactions. If you navigate to Accounting > Transactions, you should see the "Filter" option along the top of the page. Here there will be a checkbox that will allow you to filter by status. The screenshot below should help you to visualize where to find this!
I have 75 transactions from the start of my business year 1 April 2020. I have checked each line with my bank statement three times now but the amount in my bank v the wave amount doe not match. Is there something I am doing wrong?
Hey @LouDNZ! This is definitely a bit of a tricky one! What are you seeing as far as those discrepancies go? Can you explain in a bit further detail what you're seeing on your end?
Figured it out just now that I didn't add a starting balance. Have done that now and it's all sorted.
Thank you!
I almost always only want to see unreviewed transactions. To do so, I use the filter to separate. As I move around through Wave and come back to the transaction page, I have to redo the filter every time in order to see the unreviewed transactions only. Is there a way to set up a default filter view or at least hold the current filter while one navigates from area to area within Wave?
PS - the previous incarnations of Wave defaulted to unreviewed which was great...
I reconciled 2 years at one time and marked every transaction as reviewed while I was reconciling. Due to duplication issues with the bank connection I expected to be able to filter by Unreviewed transactions but EVERY reviewed transaction is now unchecked. Unable to Filter