Record an expense to an income account?

KJIsaacson

I'm a newbie to Wave. Not an accountant, but I think I have a basic understanding.

Can I record an expense to an existing income account? For example, I received into my bank account a small deposit from another bank account (one of those test deposits for the purpose of linking the two bank accounts). A few days later, that same amount was transferred out of my bank account to the original one that it came from.

In Wave, I recorded the deposit to a newly-created income account ("Transfer from [Bank X]"). Now, how do I record the withdrawal? I want to record it to "Transfer from [Bank X]" so the balance of Transfer from [Bank X] is zero.

I can't see how to do that.

Thanks.

Mikeg

KJIsaacson,
If the 2 bank accounts are included as assets (cash) then it is a transfer between 2 assets. Each would have transactions on the register that would offset each other when coded as a transfer. If the second account is not on your balance sheet, then I would code the deposit as owner contribution and the withdrawal as a drawing. It should not affect the income statement.