Record bills and invoices via bank statements

Bowjest

Hi everyone,

I've been trying to read up a bit on this, but must confess I just find all very confusing.

If I'm uploading bank transactions via a CSV file and this, naturally enough, contains both deposits and expenditures,

I've only just tried this with my test account to make sure I lined up all the fields correctly (which worked, so Woo Hoo!), but now I'm unsure how this fits in with my invoices and bills.

I issue invoices for the work I do to my customers via Wave (automatic mailings each month) and I then check my bank statement to mark these off (add a payment) when each comes in. So far, no problem.

But if I then upload a CSV bank statement, this will create new entries for each of the invoices I've already ticked off in the system. Do I just delete these before I upload them so each invoice isn't duplicated or is there a better way of handling this?

And when it comes to bills, I have direct debits for all my major expenses (broadband, mobile phone, etc.), so I assume I can just import these from the CSV file and appropriately categorise them instead of setting up individual items in the Billing section of the app and then duplicating and adding payments, etc. The main thing is that the expenses is tracked and accounted for, right?

Any advice would be greatly appreciated. I hope you all have a good weekend.

All the best,
Bow

Barsin

Hey there @Bowjest

This is a great question, and usually a common misconception in Wave.
You should have a couple of options here if you are uploading your transactions or importing them via a bank connection:

1. If you have the option of merging your bill/invoice payment simply check the two check marks beside the CSV imported transaction and the invoice/bill payment transaction then select merge. This may or may not work depending on your upload and the difference in the description (or amounts if there are fees that need to be split).
2. Delete the CSV transaction duplicate. Super easy.
3. Don't mark the invoice or bill as paid. When you import the CSV, select the appropriate transaction > Categorize it as a payment made to an invoice (or bill) > Find the correct invoice/bill > This will in turn mark the invoice/bill as paid and categorize your CSV imported transaction.

I hope this answers your question!

Bowjest

Thanks, @Barsin !

That sounds super. I give those options a try.

All the best,
Bow