Deposit account not retaining category or deposit details

abrasivejustin

Hey gang - is this a bug or is there just something I'm missing with this new Wave?

Customer 1 pays invoice 111 with a check. The total is $100.
Customer 2 pays invoice 222 with a check. The total is $200
I record both of them using the payment type as CHECK and the payment account as BANK.
I deposit both of them at the bank. The deposit total is $300.

Simple eh?

Next I go to the TRANSACTIONS page for the account BANK. I see the $300 deposit, but it's category is UNKNOWN CATEGORY.

So I do a split category and try to match them using the option "Payment Received for an Invoice in Wave"... but neither invoice is listed in there! What?!

NicoletteB

@abrasivejustin Great q! From what you described, it looks like you are trying to assign a payment after yo've already recorded the payment on the invoice. For the category you are selecting, Wave will only show unpaid invoices to select from. Because you've already marked the invoice as paid by a cheque, it won't show up.

There are two methods you can do to resolve this. First one is you can remove the manual payments from the invoices. Then you should be able to categorize it to the split since they are now unpaid.

The other option is to use a bookkeeping technique similar to what we use for Wave Payments where you categorize the initial payment to a holding account. Then when the deposit transaction comes in, you categorize the deposit as a transfer from the holding account.