[Wave Accounting Basics Video 1] How to Import your Transactions
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[Wave Accounting Basics Video 1] How to Import your Transactions
Whether you have an established business or are just getting started, ensuring your bookkeeping is accurate can seem daunting. However, in Wave, there a three simple steps to getting your books in ...
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I have a small Kitchen and Cabinet business and Wave work well with the Estimate/invoice part of Wave.
The following - how do I expense a cost of material bought from a supplier and link the cost to my estimate/invoice?
I then want to run a report (profit/loss) to see the result for that specific completed job?
@TheOldWoodworks,
Unfortunately, Wave cannot do job costing or have cost centers where you run an income statement by product or job.
This video was super clear, thorough, and practical! Thanks for providing resources like this!
How am I able to input my transactions into Wave if my financial institution does not connect to Wave. I have no problem entering and categorizing expenses, but accounting for the deposits (checks mostly) is not that clear. I'd appreciate any help I can get!
@Kellye,
Your financial institution should allow for you to download transactions. Choose either csv or Quickbooks i.e. .qbo file type. If you choose csv, 3 columns date, amount (deposits positive, checks negative) and description.
You can upload by going to Accounting/Transactions/More - upload bank statement
Thaks, Mike. I tried that, but Wave took the transaction numbers as the totals instead of the dollar amounts as the totals, so it really screwed things up. I'm trying to do everything by hand now. Do you have any experience with that?
@Kellye,
Oh, I've had my share of redo's. The csv should list each transaction in three columns. Some financial institutions generate a csv with lots of data that is not needed. Some even the data backwards. You may have to manipulate the data in the csv to just the items that you need.
That's a good point, Mike! I'll try that
I cant find my bank. ATB Personal is there but there is not ATB Business.... Seems odd since I am running a business and can not access the business account...
Hey @Tucker_and_Co , our third party data aggregator who runs these connections supports thousands of banks and is constantly adding more. If your connection isn't showing up at the moment, check back in the future to see if it's been added. Thanks for your patience in the meantime!
If I import data from a CC will it just import statement totals? If totals, will it split the statement totals? Or will it import individual transactions?
Nevermind. Figured it out.