Reconciling CC invoice pymts

Emmee

On my transaction page I have showing:
Invoice Pymt $480 (inv#6 pymt from XX) (deposit)
Then on same date, Invoice pymt Merch fees $14.22 (withdrawal)
Then next day Misc Pymt Wave $465.78 (deposit)
So obviously my income was $480 from the client, however they paid via Wave pymts so the Merch fees make sense and the actual income is the $465.78 into my bank account. So is the first transaction for $480 a duplicate? I am hesitant to just delete it as it is the actual payment of the invoice transaction. Will it mess up the invoices if I do delete?

CallieP

Hey there @Emmee , thanks for reaching out! Here's how your payments bookkeeping should look if your clients are paying through Wave Payments:

Every time you’re paid through Wave, you’ll see three transactions.

1. As soon as payment is recorded, you’ll see an invoice payment transaction to your Wave Payments account. The Wave Payments account is a money in transit account, or holding account.
2. Two business days after payment is sent, the deposit transaction will be automatically imported from your bank connection.
3. Once the bank-imported transaction is pulled in, Wave will automatically create a transfer between your Wave Payments account and your bank account. That transaction represents the movement of funds from the holding account to your bank account.

If the transfer isn't automatically created, you can create it by categorizing the bank-imported transaction as 'Transfer from a Bank, Credit Card or Loan', and then choose 'Payments by Wave'. The fees for Wave Payments should be automatically accounted for! If this isn't matching what you're seeing, would you be able to provide a screenshot of what you're seeing there?

Emmee

I am not sure I understand your reply or if it applies in this case.
Here is a screenshot of the issue in question. I have another similar the following month.

AlexL

Hi @Emmee , these transactions should be appearing different so we'll have to have our Support team look into this 1 on 1. Can you please submit a ticket directly to our Support team with the information you've posted here (along with that screenshot?). That way someone should be able to help solve this with you.