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Paying Expenses

EltoroEltoro Member Posts: 2

Hi,

So I am able to get my receipts added as an credit card expenses in the transaction, and it is showing up on the current liabilities of of P&L statement. Now when the credit card bill comes and I pay the expense, how do I get it to show that the expenses has been paid and takes it off the current liabilities?

FYI-I am new to Wave so I have not connected the credit card and banking information yet as I want to do it manually step by step first to understand the process better.

Thanks.

in Accounting Technical Support

Comments

  • CharlotteCharlotte Member Posts: 671 admin

    Hi @Eltoro ! Welcome to Wave! What brought you here? :)

    You can find our guide to recording payments to your credit card here. In short, you're entering a transfer between your accounts rather than an expense. If you don't yet have an account in Wave for the credit card or bank account from which you made the payment, you can create corresponding accounts in your CoA for each. If you choose to connect your accounts at a later time, you'll be able to associate the integrations with the accounts you create.

    How has your getting started experience been so far? Have you found the navigation to be clear?

  • EltoroEltoro Member Posts: 2

    Thanks. Wave is great so far. Especially the Receipts app.

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