Receivable and Payable in US dollars
MichaelChan_Bida
Member Posts: 7
I am in HK. When I create a bank account using USD.
When I create an invoice and client pay me money. I could not find a selection for "Payment Received for an Invoice in Wave"
When I create a bill and I pay money from Bank, I could not find a selection for "Payment Sent for a Bill in Wave"
When I create a bank account using HKD. I will easily settle AR and AP. Is there any ways to solve the problem? Thank you.
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Hey @MichaelChan_Bida! I'm sorry to hear that you're having a hard time finding that category. Can you post a screenshot here of what that transaction looks like within your Wave account? Would love to see what you're seeing!
Hi, @ConnorM . I am using the currency as HKD in my account setting. I created a USD Bank account and an invoice in USD with number "TESTING". In the USD bank account transaction, I found it unable to choose a category as "Payment received for an invoice in Wave".
In the Bank HKD account, the option to choose "Payment received for an invoice in Wave" is available, however, I am unable to search my invoice created in USD with number "TESTING" neither.
Hey there @MichaelChan_Bida
While Wave cannot mark the invoice or bill as paid for a foreign account at this time we do have a workaround for this! What we typically ask of our users to do is simply go to the the invoice or bill and mark it as paid. This will populate a new transaction in the currency of the invoice/bill as well as marking it as paid. You can then delete the bank imported transaction that you were trying to associate with an invoice, as there will be redundant income transactions on your transactions page.
Our team is fully aware of this matter and we're looking into making sure that this type of transaction will be reconciled moving forward!
Check out this article for more info!
https://support.waveapps.com/hc/en-us/articles/360035158192-Foreign-Currency-Invoices-and-Bills