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Error message - cannot create a bill

danatdanat Member Posts: 3

I wonder if anyone else has a problem with creating a new BILL... when I use Accounts Receivable as the expense category, then it refuses to create the Bill. It works fine with other expense categories but not with Account Receivable. My bill is for goods that I want to re-sell... I am sure that category would be accounts receivable.. perhaps I am mistaken. Not sure why I would get an error message. error reads: "Error saving Bill from (vendor name)"

in Accounting Technical Support

Comments

  • danatdanat Member Posts: 3

    Sorry I meant to say Accounts Payable, not Receivable.. I try to create it with accounts payable, then it does not work. (it works with neither)

  • danatdanat Member Posts: 3

    LOL... ok I got the answer. Never mind, please ignore (not sure if one can delete these comments)

  • dlangleydlangley Member Posts: 1

    I'm having the same issue how did you solve it?

  • SBrassSBrass Member Posts: 1

    I am getting the same error. How is this resolved???

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi @dlangley and @SBrass.

    This is because neither of these account are how bills (or invoices) should be categorized.

    The category you choose for either invoice items or bill items is the category in which the income or expense for that item will be recorded once money is actually exchanged. Wave automatically creates an account receivable (or payable) transaction when an invoice or bill is created, and the amount is moved to the category you chose once it's recorded as paid. So here's a rough step-by-step description of the process.

    • You create an invoice in Wave, approve it and send it to your client.
    • Wave creates a debit transaction equals to the amount of the invoice and categorizes it under Accounts Receivable (you can see those in your general ledger)
    • Your client pays the invoice, and you record a payment.
    • Wave creates a journal entry that credits the amount of the payment to Accounts Receivable, and debits the same to the category of the items.

    Most of that is kept in the background, so you can focus on running your business, while Wave takes care of making sure the numbers fall in the places. You can still see all of this in your Accounts Transaction report, if you are curious, but there's no need to set either Accounts Receivable or Accounts Payable as a category for an invoice or bill.

    Does that answer your question? if not, give me a little bit more detail about your situation and I'll see how I can help.

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