"Payment received for an invoice in Wave" no longer available
motorambler
Member Posts: 53 ✭✭
Not sure why, but today I no longer see the option to mark deposits as "Payment received for an invoice in Wave" -- the option simply isn't there anymore. I received 2 bank deposits -- one for the exact invoice amount & the other a partial payment but I only see these options:
Why is this happening all of a sudden?
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Hey @motorambler! Definitely a bit of an odd one. In that screenshot, it looks like there is nothing in your search bar for the categories. Can you try typing 'Payment' in that bar and see if any results pop up? Would love to look further into this together.
Hi @ConnorM sorry for the tardy reply. I tried typing "pay" and "payment" in the search bar. See screenshots below. Could this be happening because the payment is in USD and not my home currency of CAD although I'm sure I've assigned USD transactions to invoice payments in the past.
Thoughts?
Hey @motorambler! No worries about the reply timing. The currency mismatch that you'd mentioned is actually going to be the exact reason that you're not seeing the invoice appear in this categorization list. To mark this invoice as paid, you will need to do so within the invoice itself, by clicking 'Record a Payment', and then create an adjusting journal entry for the difference due to foreign exchange.
@ConnorM - thanks, that is interesting and an important point to remember for multi-currency transactions.
Hi @ConnorM thanks for the continued support.
There is no currency mismatch because the invoice is also in USD. Additionally, on April 6th I was able to apply my customer's initial 50% USD deposit as a "payment received for an invoice" just fine as shown in the below screenshots:
For whatever reason, I'm unable to do the same for the remaining 50% balance payment. Maybe this is a bug in your software? If need be, feel free to login to my account to take a closer look,
Note: I did make one modification to the invoice: the -$15 transaction fee was entered after my customer made the initial 50% deposit in order to "balance" the invoice payment as per your instructions.
Hey there @motorambler
A couple things to note:
Wave cannot attribute a payment to an invoice with a different currency. What we typically ask of our users to do is simply go to the the invoice and record a payment to their account. This will populate a new transaction in the currency of the invoice. The invoice will also be marked 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!
Judging from your screenshot, the grey uneditable transaction tells me that this invoice payment landed in your USD account and was marked from the invoice itself. I do believe that you may need to mark the rest of the overdue invoice as paid in order to proceed with this invoice appearing as completed.
Let us know if you have any luck with this.
Hi @BarsinA thx for the info. Not sure if I did this correctly, but I went to the invoice in question & selected "record a payment" & entered the date & account info. Now the invoice shows as being paid but I have two (2) entries in the Transactions page as seen below. Should I delete the original entry or merge the entries?
Hey @motorambler , looks good to me! We always recommend merging transactions when you can so that would be my recommendation here for better accounting practices.