Departments / Stores / Profit Centers

alpac1t

I'm new to Wave, am setting up chart of accounts.

I need to have several departments aka profit centers aka sub-businesses, so that (a) I can create Income Statements for each department, and (b) the sum of all the departments' Income Statements equals the company Income Statement. So for the "office supplies" expense category, for example, I need "Office supplies - Dept 1, Office Supplies - Dept 2," etc. How do I do this? Thanks.

Barsin

Hey there @alpac1t

First off, welcome to Wave and our Wave community

When it comes to creating your chart of accounts, you can get as granular as you wish and create these types of accounts. However it sounds like you might be looking to add sub-accounts or tags in Wave's chart of accounts which is not currently possible in this version of Wave.

We're always looking for feedback from our customers on how we can improve our software with every update we make. So we appreciate you reaching out about this and you should know that our developers are always parsing through archived tickets looking for feature updates requested by our users. Don't hesitate to reach out if you have any other improvements you think we could make to our system!