Dashboard "Bank Accounts & Credit Cards"

snappyfish

Hi, On dashboard in the box below "Bank Accounts & Credit Cards" it shows £2,266.59

Under Accounts > Transaction in the drop down box it shows £1,973.46

Why are they different?

JamieD

@snappyfish. Since Wave is accrual basis, any bills/invoices that are created in Wave and have been sent or listed as overdue will count toward your balance on the transactions page itself. With that said, you will need to go through your transactions page to see if there are any transactions missing/added that are altering the actual bank account balance in the transactions page.

snappyfish

@JamieD said:
@snappyfish. Since Wave is accrual basis, any bills/invoices that are created in Wave and have been sent or listed as overdue will count toward your balance on the transactions page itself. With that said, you will need to go through your transactions page to see if there are any transactions missing/added that are altering the actual bank account balance in the transactions page.

But should the money always stay in "money in transit" ?

Sophia

@snappyfish apologies for the delay in replies here, our team is having a busy month! Those funds should move from Money in Transit once the deposit transaction for those funds hits your bank account and that transaction is imported.

Essentially, every time you’re paid through Wave, you’ll see three transactions. As soon as payment is recorded, you’ll see an invoice payment transaction to your Payments by Wave account (the money in transit account). After payment is sent, the deposit transaction will be automatically imported from your bank connection. Once the bank-imported transaction is pulled in, Wave will automatically create a transfer between your Payments by Wave account and your bank account. That transaction represents the movement of funds from the holding account to your bank account.

If you don't have a bank account connected, you can create the second deposit transaction manually, and then create the transfer between your bank account and the Payments by Wave account.

Let me know if that works for you and if we can help any further

snappyfish

@Sophia said:
@snappyfish apologies for the delay in replies here, our team is having a busy month! Those funds should move from Money in Transit once the deposit transaction for those funds hits your bank account and that transaction is imported.

Essentially, every time you’re paid through Wave, you’ll see three transactions. As soon as payment is recorded, you’ll see an invoice payment transaction to your Payments by Wave account (the money in transit account). After payment is sent, the deposit transaction will be automatically imported from your bank connection. Once the bank-imported transaction is pulled in, Wave will automatically create a transfer between your Payments by Wave account and your bank account. That transaction represents the movement of funds from the holding account to your bank account.

If you don't have a bank account connected, you can create the second deposit transaction manually, and then create the transfer between your bank account and the Payments by Wave account.

Let me know if that works for you and if we can help any further

This is the problem, my bank account has been connected. Wave is not handling transfer correctly, so money stays in "money in transit"

I sent a support ticket, no reply.

JamieD

@snappyfish In that case, you will need to categorize the deposit transaction that lands in your bank account as a 'Transfer From Payments by Wave' -- this will show the money moving from the holding account into your bank account via a created transfer. I can see that my colleague Ryan was able to reply to your support ticket that you sent in, but please let us know if you have any further questions here.