Can't change Category from Owner's Equity to Owner Investment / Drawings in previous entries
CreatrixTiara
Member Posts: 6
Hi there,
For a number of transactions I split them between their main category and Owner's Investment (e.g. I work from home, so my rent is 25% Rent Expense and 75% Owner Investment). This was following on from advice I had gotten from Wave staff. I went through my past entries and I had categorised a lot of them as Owner's Equity, but I'm now realising that's not quite the right Equity account and need to switch them to Owner Investment.
I know there are new transactions that are categorised as Owner Investment. However, whenever I try to change previously split accounts, it just autocompletes to Owner's Equity. Owner Investment doesn't even show up until I click on Personal Expense and then select it, but I can't do that without it switching to Uncategorised Expense.
How should I go about this?
Tiara
Comments
Hey @CreatrixTiara
I think the best method to save you some strife from recategorizing would be to simply create a journal transaction debiting the incorrect equity account and crediting the proper one. This will move the total amount into the proper equity account for easier bookkeeping.
Otherwise you should be able to simply select the category to Personal > Owners investment/drawing. Unless this account was archived or doesn't exist in your Wave business but it should come native to your Wave account.
@CreatrixTiara to be very clear here, you're following the steps that Barsin is laying out above (changing the category) and it changes back on its own? Where exactly in the process does it do this? As soon as you select the categorization, or after you save?
Also, what browser are you using when accessing Wave to take these steps?
Let us know!