Home› Sales & Invoicing› Sales & Invoicing Feature Ideas

Invoice to liability account

HeadroomHeadroom Member Posts: 7

I know this has been discussed previously and seems it is a highly requested and indeed necessary feature. I need to invoice for (or at least issue a receipt) and account for tenant security deposits at the start of their lease and currently it is only possible to add invoices to an income account, which it is not. It is a short term liability. I am just now personally trialling wave to see if it suits my purpose but without this feature I am not sure it is. Unless you can suggest a simple workaround for now until this feature hopefully becomes available? Thanks

in Sales & Invoicing Feature Ideas

Comments

  • Ryan_WRyan_W Member Posts: 452 ✭✭✭

    Hey @Headroom, although Wave doesn't have a direct way of doing this, I have a workaround that you could try. You can create a custom income account for these deposits, as well as another account under short term liabilities. Then, you'd at least be able to transfer from the income account to your short term liability to track these deposit payments accordingly.

  • ack1128ack1128 Member Posts: 1

    I am also having this problem. I have got a pre-payment from a customer. I mark the invoice as paid. Wave creats an auto transaction when I select check and account. There is no place to enter a liability as part of the invoice though. If I just made my own journal transaction it would work, but then the invoice wouldn't show as paid. Why is there not a good way to do this?

    I'm sure lots of people get security deposits, etc. It can't be counted as a sale yet, as the amount is equal to a liability they have. Wave won't let us do this.

Sign In or Register to comment.