new Wave interface: How to move transactions between business/personal
nadworks
Member Posts: 31 ✭✭
The old WAVE gave me the ability to move transactions between my personal and my business account. I am unable to find this option in the new interface. Pls help.
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@nadworks Ah yes, a fair question. The new interface does have users handle personal transactions differently. Instead of moving a transaction to your Personal profile from your Transactions page, you can categorize the transaction as Owner Investment / Drawing instead. This way, the transaction will be categorized as Personal, but you'll still be able to see it on your business Transactions page. To do this, head to Accounting > Transactions > Categorize as 'Deposit from Personal' and then select the relevant equity account. You can read more about handling Personal transactions here: https://support.waveapps.com/hc/en-us/articles/360020168332-An-easier-way-to-manage-personal-transactions
Psst: While Wave has an easy way to handle personal transactions, we don't recommend mixing your personal finances with your business finances!
Thanks, but that's only half of what I need.
I occasionally have to use my personal credit card for business expenses and vice versa. How do I move an expense from my personal account to the business account? It was extremely straight forward before. Now I suddenly have to 2nd-guess a process that's not clear and it's not something I'd like to trial and error.
Hey @nadworks . We've removed the option to move transactions in the new platform as there are a lot of bookkeeping implications that occur when a transaction is moved between business and personal finances. With this being said, the best way to do so would be to re-create the transaction in the account that you want it to be in, and mark it as owner investment/drawing as mentioned above.
That's cool.
How did you communicate this? Is there a _"this is what we've changed and how it all works now" _document or page?
@nadworks Yes, the beginning of the article mentions the change made. Although I do admit a bit more detail about why we made this change could have been useful context for you!