Receipt App only for expenses? No asset purchases?

That_Guy

We are in the very early stages of a startup and many purchases are for plant assets, equipment etc. Is there a way to record asset purchases in the correct category with the app? So far I only see expense catagory's listed...

ZoeC

Hey @That_Guy, receipts in Wave are specifically for expense tracking; the only transactions which can have an images linked to them are expenses.

Equipment assets are tracked within Wave for depreciation/ appreciation using an asset account. First, you will need to create this account within your chart of account. You can do this by navigating to: Accounting > Chart of Accounts > Add an Account > Asset Account> Property, Plant, Equipment. Then you will need to create an expense transaction in Wave to represent the purchase of the item. Put the amount, the account it came out of and for the category, select the Asset account you just made. After clicking save, the asset will now have that amount as value. You will be able to see this yourself by going to REPORTS > BALANCE SHEET. But I'm afraid, it can't be done from the receipts page.