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Transfer funds between businesses

TTTTTT Member Posts: 9

Hi,
I have 2 businesses on Wave. It's a bit of a shambles, BUT, I've only just opened the bank account for the second business. Until now Business 1 has been receiving the bank payments and cash deposits for Business 2....
How do I show the money being transferred back to business 2's new bank account, and what do I do about all the deposits into Business 1's account that don't belong to it?

in Accounting Technical Support

Comments

  • Ryan_WRyan_W Member Posts: 452 ✭✭✭

    @TTT in this case you should first make sure the bank connection is being pointed at the right business profile in Wave. You can do this at Banking > Bank Connections, if you haven't done this already. Also, you can click the dropdown arrow next to a transaction in business 1, and you'll have the option to move the transaction to business 2.

    A caveat here is that this "move to" option is only available in the old version of Wave, which you're still on. It's not possible in the new version, which you'll be moved to soon. In light of that, I'd make sure you're only using this as a temporary measure, rather than learning to rely on it going forward indefinitely.

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