Exclude unpaid invoices from Profit and loss?

Ian_Bond

Hi, in my old system (instant invoice) each month I export my income and expense transactions to a pdf and email to my accountant.

I am running wave and instant invoice side by side and noticed there's a large discrepancy on the income side.

it's because wave is accounting for invoices that are not yet paid! is there a way to create a report that shows the money you've received only rather than outstanding invoices because technically i haven't received that money yet?

thanks, Ian

AlexL

Hi @Ian_Bond . Because Wave works on an Accrual Basis accounting platform, the invoice income is recorded as soon as you create the invoice. If you want to view this in a Cash Basis accounting method, you can view the Cash Flow report in the Reports page which should give you more of what you're looking for.

Ian_Bond

that's perfect, thanks!