Intended data changes to your reports
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Intended data changes to your reports
We’ve made some changes to how your accounting data is represented in Wave to help you get a clearer picture of what’s happening within your business. What’s new? Let’s break it down.
Transfer clea...
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Hey @francois12uk! Our PayPal integration is definitely in need of some work, and I apologize about the frustration it's caused. It sounds like they are stuck in clearing because Wave is unable to locate/create the other end of the transfer to settle the clearing. Could you let me know the workflow you're trying to achieve/where you are transferring the money to (or from) into/out of PayPal? I should be able to help dig into this further. Essentially though to clear out the transfer clearing, Wave needs to recognize another end of said transfer so that it settles it in an actual account, rather than being 'held' in a pre-cleared state.
I have some regular payments that are made via Paypal. Paypal is linked to my bank account, so Paypal automatically withdraws money it has paid out from my bank account (with a 4-5 day delay, so the dates never match!). At the same time there are a couple of invoices I send via Paypal (for historical reasons), so if money is in the Paypal account from paid in invoices, it will balance out expenses from what's in the account until it reaches zero, at which point it will withdraw the outstanding balance. So there is no direct correlation between the figures in Paypal and the figures in bank account. It looks like this is proving too difficult for Wave (which literally copies everything recorded in Paypal) to handle, and it now seems to me it's going to be a lot easier and quicker if I enter my Paypal payments and invoices manually without the integration. Having entered several months with integration (albeit with most entries stuck in clearing), what will happen if I remove the integration? Will it remove all my Paypal entries (so I can make a fresh start) or will it still leave some items stuck in clearing? How can I 'unstick' stuff from clearing in order to make a fresh start?
@francois12uk Thanks for the further insight here. Similar to bank connections in Wave, if you unlink an integration, the information imported will remain in Wave. That means you can unlink the integration and not lose any of the current work that you have completed. The transactions that are currently categorized as transfer clearing will remain there, likely because the other end is not yet in Wave. Once you have both ends of the transfers in Wave, you should be able to recategorize the transaction to "Transfer from ..." and select the appropriate end transaction for the transfer. You can think of the "Transfer clearing" as a placeholder until the transfer is linked correctly.
Im doing my daily reports however under description i normally will be able to see the patients name but currently i am not able to so can i get some assistants please
Hey @Innovative. Just for my own clarification, could you be a little more specific in terms fo what description section you are looking at? If possible, could you also include a screenshot of where you are looking so I can give you the assistance you need in this particular situation? Let us know when you can!
Hello. I've stumbled across this post while looking for something I've just noticed in my reports. Up until June, I would create a transfer between my bank account and credit cards to account for payments and that transfer would show up in the Transfer Clearing report under Equity. The transactions for June are showing up under Asset. I stumbled across this because I was looking at my account balance report and saw a line item under Equity for Transfer Clearing and another under Asset. I cannot find any obvious thing I've done in categorizing the transactions that would have caused this. Was something changed in your reporting that changed how these transactions got categorized? Thank you!
Hey there @BReel
So I might need you to give me some more context here. It sounds like keeping your transfers in a transfer clearing account may not be the ideal method here. Let's use an example for a $100 payment from your checking account to your credit card. This will show up as two transactions on your transactions page; money in your credit card (green transaction) and money out of your checking account. When you select one of these transactions and pull up the details in your page, you'll be able to select transfer to/from bank, credit, loan. Here you'll be able to select the opposite side of that transaction which automatically links the two of. Your reports should reflect a debit to and a credit your liability account. Hopefully this makes sense, but if you could send some screenshots I'd be happy to look into the matter a bit further.
Thank you! And sorry, I'm new to the forum and didn't see how to add screen shots or I would have in my last post. I just figured out how to add files. See attached Word Doc w/ screen shots and additional information. Any advice appreciated.
Hey @BReel. I've gone ahead and sent you a support email to see if we can get the problem you are running into resolved. Please respond to that when you get a chance so we can get this sorted out.
I get a discount when I pay my sales tax to the state, but now the system shows I short paid my sales tax and that I owe more money. How do I make that liability go away? How can I record the discount in the system? Journal entry? Do I have to do that each quarter? Please advise. Thanks!
Hey @Spiritwear13. In this situation, you would create a journal entry, so 'credit' the specific income account that you will need to create (something like sales tax refund) and then you debit sales tax. I hope this helps!
I like the new Sales Tax report, however, I wish it could just pull the whole report as one and not open in different windows every time I want to view the tax received and paid. Now I habe to send 5 reports to my accountant instead of one. We pay tax every 2 months so this is now a very large report and not as easy to use.
Hey @InunuNet! Thanks for your feedback here. This type of feedback is vital when we're looking towards future feature ideas for Wave, and we'll be sure to take this into consideration when making changes to our reports in the future.
I am trying to reconcile the old and new versions of the sales tax reports. I get that the new version includes both tax payable and receivable transactions resulting in a net balance as a liability.
However, when selection " Cash equivalent " option, the sales tax report omits any journal entries that were done to reflect actual payments to and refunds from the government, Therefore the opening and closing balances are incorrect. Never used to happen in the old version.
Can you confirm that I should run the "accruals/unpaid" option to include ALL transactions ?
Thanks.
Hey @Voahangy! Great question here. Running the Accruals/Unpaid option to include all of your transactions is going to be your best bet here, yep!