Some noted glitches in the latest version...and a short; easy-to-do wish list.
FinancialBookkeeping
Member Posts: 14
YOU GUYS HAVE TO BRNG BACK THE OPTION TO MOVE A TRANSACTION TO ANOTHER "COMPANY" WITHIN WAVE. SERIOUSLY, this is a mission critical MAJOR MAJOR DESIGN FAILURE that must be addressed. I'll happily pay for the feature! IN FACT, I'll pay almost anything for these WISH LIST ITEMS... Charge me DOUBLE, TRIPLE, QUADRUPLE what I'd pay for Quickbooks online... I'd be happy to do it if you could help us get to the next level.
1) In review of "transactions" some items are showing as DEBIT (withdrawal) (ie; black font) when in fact they were deposits, credits, etc posted TO the imported checking account and should be treated as a CREDIT (Deposit) to the checking account (blue font?) ...
2) The checkmark in the top left (select all) on an auto prompt to bulk edit pop-up as a result of "similar transactions" being edited... (designed to be the first step in a "bulk" edit), should RESET when the " ( < GO BACK TO ORIGINAL TRANSACTION ) button is clicked.
3) SLOW DOWN on the jump into AI and the attempt to auto-categorize items. SLOW DOWN. You're not there yet. It's not quite ready for prime time (as exciting as it is, I'm an early adopter of new tech, so I personally LOVE this attempt), but, it's not perfected enough for real time use yet.
Comments
WISH LIST:
1) YOU GUYS HAVE TO BRNG BACK THE OPTION TO MOVE A TRANSACTION TO ANOTHER "COMPANY" WITHIN WAVE. SERIOUSLY, this is a mission critical MAJOR MAJOR DESIGN FAILURE that must be addressed. I'll happily pay for the feature!
2) Pop-ups should be "disable-able" when making transaction edits, they are annoying when I'm not interested in it 'finding similar transactions' to bulk edit. Incidentally, it's trigger seems quiet erratic. A next level wish list would be the user ability to set the triggers (ie: if there are 3 or ore transactions with one or more matching word in the payee field than a pop-up prompt; or if you decline 5 pop-ups in a row it auto disables until your next log in, etc)
3) In the transaction view, user should have a "select all" option for the far right column, the GREEN CIRCLE CHECK MARK, for all transactions in that view to bulk select them as "REVIEWED" without having to navigate to bulk edit interface (Remember, users have various connection speeds, your servers are not the best, and different computer speeds and loads affect real life experiences, a 2-3 second delay on 300 transactions could mean I'm sitting at the computer 95 minutes longer than I needed to be -- how much is that worth to you?)
4) There should be a "SUSPENSE" type of category that doesn't report to things like Balance Sheet & P+L for transactions that need to be reviewed, or are awaiting an offsetting journal entry, etc. Call it, "NON-BALANCE AFFECTING" categories, etc (I set up an "Unrecorded Expense" etc in Quick Books that works quite well for this purpose)
5) Chargebacks should be auto processed and tagged properly when they unfortunately occur
6) A bank account that was used for transaction history was closed and the auto-updating stopped on ALL accounts... this is not the way to handle this... ALSO, I think I have to RELINK the remaining accounts all over again if I make a sale and want those funds to ever be deposited... This is SLOPPY and NOT customer friendly, and frankly -- there is NO GREATER DUTY YOU HAVE than to make sure your merchant side services it's client properly and get's them PAID on time, EVERYTIME.
7) Scanned (mobile device app photos) of receipts should be AUTO MATCHED (maybe a special review pop-up option to check these on new log ins so they don't get out of hand, matching them directly to the corresponding bank account item using AI, and then confirmation with one click by the user.
8) Invoices should allow more customization, for instance, I don't want all my companies in every instance to have a mailing address (or maybe not just one, but two or three) I can't edit the fact that it requires a US States and the words "United States", which in some cases I don't want that populated.
Here's an example:
ABC COMPANY
Serving Customers Coast-to-Coast
1234 Main Street, New York, NY 10011
2345 Santa Monica St, Los Angeles, CA 90021
9) Why can't "personal" expense items move to the PERSONAL "company" automatically?
10) I see some in Wave suggesting deleting certain items. For instance, I think I've read the protocol for dealing with double counting a sale (ie; the sale get's recorded when the invoice in wave is paid, AND when the proceeds are posted to the company checking account) is to delete one of them, this seems like a bad protocol, -- plus wouldn't the missing (deleted?) entry just repopulate on the next bank update?? This is yet ANOTHER reason for having a "non-recording" section of category that doesn't travel to P+L etc where these items could be moved in bulk, saved for reference (with notes field) this seems like an important item to address..
10b) There should be a switch that "locks" a transaction item so that even if there is an upload again it doesn't overwrite it.
11) Why can't TRANSACTIONS be exported and WHERE DO THE "NOTES" go?!?!
12) Users should be able to export the results of ANY search, filter results, etc.
13) CLASSIFICATIONS!!!!! CLASSIFICATIONS!!!!! CLASSIFICATIONS!!!!! Why can't there be an added field that is used for (as QuickBooks calls them), "classifications", which can then be used when generating reports to toggle their inclusions, exclusions, etc. This would be useful (and frankly would be a semi-handsome work-around to the colossal error in removing the ability to easily move items between "companies". If you have classifications then I can say, "Classifications: a) ABC CO. NY b) ABC CO CA c) WHOLESALE WAREHOUSE CO. d) ITEMS FOR REVIEW" etc etc... This one additional (optional) field could be VERY powerful and make your system more appealing to power users, especially if the field can be sorted to, included, excluded, etc in reports... which should also be COMPLETELY CUSTOMIZABLE! (See #14)
14) CUSTOM REPORTS!!!!! Come on guys!! This is a BASIC feature... Right now, users have to EXPORT the data and bring it into excel or google sheets, etc to have any meaningful report customization abilities. You ALLLLLLLLLLMOST get there with filters in "transactions" and I could ALMOST make that work (if you brought a little more intelligence to the selections, multiple choices, drop down selections of pre-known responses, etc), BUT....... Then what??? I can't PRINT that report.... I can't export it.... I can't even bring it in to Excel or Google Sheets... I can look at it, sitting all pretty there on the screen but WTH am I supposed to do? Take screen shots to show the board? AND, it doesn't SHOW the "NOTES" at all, ever, no matter what.... UGH!
15) BACK UPS!!!! Why can't users back up their data to some 3rd party device or hardware of their choosing? (with a corresponding restore option)
16) Bill pay feature, with a corresponding bank doing free or low cost bill-pay services, all auto processed within Wave, including auto ACH option to pay vendors, suppliers, even laborers. (Does PAYROLL do this now? Do they have to be an actual W-2 employee to use the PAYROLL interface or can they be a 1099, or even a utility, etc?)
17) Why not a business checking account? Maybe with a rewards earning debit card linked with the full power of the Wave ecosystem for a CLOSED LOOP. Think of the rich data you would have at your fingertips?
18) Why not small business lending, factoring, banking, even investments?
19) Why not built in setups for gig economy "workers" (actually their small businesses themselves), such as Uber Drivers, Door Dashers, Amazon Deliver Contractors, etc. All automated, all systemized.
20) Why not built in insurance options? Liability? Commercial? Data Protection?
21) Why not built in interfacing with group platforms such as Kickstarter, Indigogo, etc etc
22) Same with ebay, Etsy, and even Amazon small businesses
23) A cool feature would be to enable a way to move an INVOICE from "waiting for payment" (etc) to DRAFT (like when a customer want's to put a project on hold but you don't want to delete all the work you did on the invoice, while you wait for the possibility they will still move the project forward, etc)
Here's the previous list - Look how many you actually implemented:
Google docs link to export reports
Transfer split screen
Robust search by any criteria
Attach images to a transaction
Batch process receipt and invoice scans
1099 function?
Auto assign categories for repeat transaction payee (all Costco are repairs etc)
Bill pay service: How about integrating a BILL PAY feature into Wave Apps to allow users to set up remote check printing and mailing (like Bill.com and the popular Metavante 3rd party processor, based in Brown Deer, WI) that banks often offer to account holders.
It would be nice to have the bill pay feature and have it fully integrated into Wave and would give Wave an edge over any Quickbooks options out there.
OK, I'm going to send this and see if you guys/gals even respond.
Hey @FinancialBookkeeping. Thank you for reaching out with this thorough, extensive list of your feature ideas and questions. While I can't guarantee that all or any of your suggestions will be implemented, there are some on here that I know are on the roadmap for future development. Definitely appreciate your time, and will get the appropriate eyes on this as soon as possible.
Problem: Wave Banace not equal to Statement Balance in Reconcilliation, but Wave Balance is actually the same as Statement Balance... just noted incorrectly in Reconcilliation!!!!!
Hey @HonokaaBob - sorry to see that you are experiencing issues with the reconciliation feature! We'd be happy to look into this for you, but we are unable to open the image file you've uploaded. As a result, I'm unable to properly look into this for you as I'm unable to see the screenshot of your reconciliation page. If possible, would you be able to upload the screenshot image again or with a different file type? Thanks!