Expense Category
Palinda
Member Posts: 1
Hi there, I bought some furniture so as I input this bill under purchases, I come to the Expense Category and the only two options that pop up under Assets is Accounts Receivable and Loan to Directors. I created Fixed assets on the Chart of accounts but its not reflected here. Please advise.
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Hey @Palinda. At the moment, I'm afraid it's not currently possible to add a fixed asset account to a bill in Wave. This is something that our engineering team is currently investigating, hoping to have resolved soon, but we still don't have an ETA as to when this will be resolved. In the meantime, the workaround is that you create an expense transaction in Wave, and associate that expense transaction with the fixed asset account you've created.
Kindly assist me too with a similar issue. This is frustrating; have you guys made any progress on this issue?
I bought a clothing rail and wanted to categorise it under PP&E. Category not showing up.
What do I do?
@emilyfox,
You could always assign it to an expense and then create a journal entry to reclass to PPE using the same date. So in your example, expense to office expense. Then create a journal entry Debit PPE XXX.XX credit office expense XXX.XX (Description-To reclass clothing rail)