Documenting Start Up cost in Wave

CNP1

Hello all. New to Wave and trying to figure out how to document start up cost. My start up cost are the cost of filing articles of organization, purchasing domain names and web hosting cost (about $200). These cost were incurred before I had a bank account. Where do I record these cost in Wave? Also, where or how do I record the required minimum deposit amounts that were deposited into my newly created business checking and business savings accounts?
Thanks for any help

Alexia

Hi @CNP1.

There are a few articles from the Help Center that will answer all of those questions.

For your start-up costs, you would be accounting for them as business expenses paid from your personal account. Here's how to do that.

As for your starting balances, you'll have to log them in manually as income transactions. Here's how to set up the starting balances for your accounts.

If you haven't already created your checking and savings accounts, you'll have to create them on the Chart of Accounts page. Here's a guide on how to do this.

smallbuisstart

The link is broken, has this page moved?

"For your start-up costs, you would be accounting for them as business expenses paid from your personal account. Here's how to do that."

AlexL

Hi @smallbuisstart , that article has been removed although the following article should be able to help you figure this ot.

https://support.waveapps.com/hc/en-us/articles/360020168332-How-to-record-personal-transactions-from-a-business-account

Although the title addresses the exact opposite situation, the green box in it that addresses Owner Investment/Drawings will help decode how to handle this.