Recorded Transaction Vs. Bank Recorded Transaction (Duplicate)
rbtjd
Member Posts: 8
Hi, I have some questions regarding duplicate transactions.
When I receive a payment in Check or Credit Card, there is a transaction for that Payment. And When my check/credit card payment clears, there is another duplicate transaction. How am I supposed to clear up this transaction?
For example,
1. When I receive payment (Check) from a customer it goes under transaction.
2. Next, when I deposit my check into my bank, I get another transaction under the "transaction" section. Now, how am I supposed to fix this?
3. Do I have to erase the previous payment and edit the new deposited transaction?
Please help.
Thank you.
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Comments
I just signed up for this software and I am barely getting to know it and this was the first issue I found. Hopefully somebody answers. As of right now, the only thing I can think of is not to record the transaction if involves my bank and a transaction will be generated once it clears.
from what I can tell you have to go through the transactions, find the two that are the same; the invoice payment and the check deposit to the bank account, select the boxes for both of them and then scroll to the top and select merge.
I find it time consuming, onerous and a pain in the....
the end result is that I ignore the transactions section which unfortunately makes the income summary on the first page pointless.
if be happy to find out if there is a better solution
@rbtjd Usually when an invoice is marked as paid in Wave it will create a transaction automatically, and if you have a bank connection, the deposit will appear in the bank account. In this case, you will want to merge these two transactions together so they remain in the same location (as @VeloxGuy stated).
With that said, if your clients accept payments through our processing system, we automatically create/detect the transfer from the payments by Wave account (the default holding account) to your bank account -- everything is automated for you.
no the payment is not transferring to main account but staying in payments by wave account. how can this money be transferred when you cannot change it. or delete transaction.
@bonnyd If this is the case, you will need to make sure that when the bank deposit happens for your invoice payment (if it doesn't happen, you will need to make sure that you create this income transaction manually) -- you can select the 'Transfer From' Payments by Wave category.. and this will show the funds moving from the holding account into your bank account.