2 payments - 1 bank deposit.

Viben

I received 2 payments for 2 separate invoices from 2 different customers, but the bank combined the 2 into 1 single transaction when the cheques were deposited.

Now they show up as 3 separate transactions in Wave, after importing the data from online banking.

Usually, the importation crates duplicate transactions that can easily be merged into 1. However, it does not seem possible to merge the 3 transactions into 1, nor can the 2 payments be merged into 1 that will total the same amount as the transaction showing in the bank statement.

How do you recommend handling this?

Viben

Anyone able to assist??????????????

Samd

Hey @Viben! This sounds correct in Wave, but I want to double check. First off, were you paid via Wave Payments in this case? If so, 3 transactions should be correct as long as they look like the following:

1. A deposit transaction for each invoice into 'Payments by Wave'
2. A single deposit transaction into your bank account, covering the price of both invoices less fees. This should also be categorized automatically as 'transfer from Payments by Wave'.
3. An expense transaction in Payments by Wave categorized automatically as 'transfer to Bank Account'.

If you are receiving funds outside of Wave and accounting in Wave, you could replicate the above by heading over to Accounting > Chart of Accounts and creating a Money in Transit account. Head back to Accounting > Transactions and edit the two invoice payment transactions so that they aren't deposited into your bank, but your money in transit.

Then, for the bulk bank deposit, you'd then want to categorize as Transfer from bank, credit card, or loan > Name of your Money in Transit account.

The alternative would be to delete the bank imported transaction since it is technically a duplication at this point, and won't be mergeable with the invoice payment transactions.

Viben

No, I don't use Wave Payments - but will attempt the workaround you suggest.

Thank you.