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Matching Transactions

equationshawaiiequationshawaii Member Posts: 5

First and foremost, I LOVE THIS SOFTWARE! Sure it has its limitations, but overall it works wonderfully. It would be very helpful if as an alternative to creating a Bill, you could enter checks written/payments made in the transaction feed, that would later match the downloaded transaction. As of now I just delete the downloaded transaction, and that works fine too. Thank you in advance Wave community.

in Accounting Feature Ideas

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @equationshawaii , thanks for the kind words 🙂. To be clear, you can enter one off transactions under the transactions page by clicking 'Add expense' or 'Add income'. You can then merge those transactions with other transactions from Bills/invoice. Is that what you meant?

  • equationshawaiiequationshawaii Member Posts: 5

    Not necessarily, here is the workflow I would love to see introduced.
    1. Enter a one-off transaction in the transaction feed.
    2. When the transaction downloads it would offer the option to match to the one-off transaction previously entered in the transaction feed or create a new one.

    Here is an example: I have $10,000 in my account, I write a check for $500, I enter the check as a one-off transaction in the transaction feed, this allows me to know my available balance is $9,500 in one glance and the check details are already in the feed. When the $500 check clears, it would offer to be matched to the check you entered as a one-off transaction or entered as a new transaction.

    It is really not that big of a deal though, users can just delete the downloaded transactions they have already entered as a one-off to avoid duplicates. I'm sure there are more important issues, just wanted to offer the suggestion. I appreciate this software and the entire Wave team! Thank you for all of your hard work.

  • sagarkumar9sagarkumar9 Member Posts: 4

    Hi @equationshawaii,
    I understand that you want a Check/Expense option which is in some other paid accounting software that could have a proper invoice type of format and could be expensed out at the spot because the bill creates liability and then you have to do receive payment separately.

    I hope it will be introduced in the waveapps soon. right @AlexL

  • DavinciDavinci Member Posts: 1

    Any updates on this? This would be very helpful.

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @Davinci , no updates on a feature like this yet I'm afraid.

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