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Profit and Loss skewed by connected bank account

Pobrad_2580Pobrad_2580 Member Posts: 2

When I opened my Wave account I connected 2 bank accounts. One of them is a trust account for holding client funds and is not part of the P & L , but the program does not allow me to exclude this account from the P & L. I see no go-around for this issue so I thought I would simply “disconnect” the trust account since I only use Wave to reconcile it, but it appears Wave will archive the transactions input to date for that account and they will forever affect any P&L for that period. Is there any remedy for this issue?

in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @Pobrad_2580 , any transactions that still exist will be counted towards your Profit & Loss Report. If you don't want them included in your report, you will have to delete them from your account.

    Alternatively, you could reach out to your accountant to see if they can recommend a way to account for these with a Journal Transaction so it doesn't affect your P&L, but even so the transaction would have to be deleted and recreated.

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