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Hello, At the end of the year we transfer all profit to each owner's capital account. On the balance sheet it appears correct. We use Partner's Distribution to move the profit from retain earnings to the capital accounts as you can see below. This makes the retained earnings zero at the end of the year. But the issue I'm having is that on the…
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I know that you work hard around the clock to live a healthy life and meet the daily expenses. And to keep the smooth flow of life, it is important to get paid on time every month. Sadly, everyone does not get paid on time. Delay in salaries and payments are a disappointing fact that everyone faces in life, but now the solution has been found to t…edwardcurtina04 67 views 0 comments 0 points Started by edwardcurtina04 September 14, 2021 10:35AM Mobile Technical Support
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Hello, I'm a new user to Wave and I wonder how to deal with an over-payment to a bill. If I have a bill for 500 and I've paid 700, the bill's balance shows (-200) because of the excess payment. This is good. However, if I enter a new $300 bill from the same vendor and apply a payment to it, I don't have a clue (unless I remember) that I have cre…hgomezc 1.2K views 24 comments 0 points Most recent by cloudnus September 13, 2021 5:52PMAccounting Technical Support
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When I record 20 vacation hours taken for a salaried employee it now shows Available Vacation -20 hours. How do I add the vacation hours they’re entitled to so the available hours don’t show as a negative?Kara 1 view 0 comments 0 points Started by Kara September 13, 2021 2:07AM Payroll & Employees Technical Support
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I recently enabled 2FA on my banking login. Immediately after doing this I began getting notifications from my bank that someone is trying to login. They come at all hours and I am assuming it's the Wave App trying to log in and update my accounts. Any idea if there is a work around for this? I assume this means that my Wave accounts will not b…BuilderJeff 1 view 0 comments 0 points Started by BuilderJeff September 12, 2021 6:31PM Help Center Discussion
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I have cannabis industry clients and I am unable to find a concrete answer on whether or not a cannabis business will violate the TOS here at Wave. A lot of accounting and bookkeeping companies discuss how they use QB, but QB clearly states in their TOS a cannabis business is subject to violation of their TOS and that means they can shut you/that …cmahan 11 views 0 comments 0 points Started by cmahan September 12, 2021 1:30PM Help Center Discussion
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The page on this topic tells you where to create this account but not how to use it, I assume from the thread I read that when the transaction shows up from your bank, you assign it that category? Although I would think there should be a way to assign before then (journal transaction?) I thought this sounded better than the previous way of creat…Bwanap 121 views 2 comments 0 points Most recent by Ansi September 10, 2021 3:51PMAccounting Technical Support
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How do I add my business location to quotes and invoices? I see that the only options this software gives me for a business location is USA or Canada to select where my business operates from... I am based in South Africa. Why can't I add in my South African business details on my invoice? My client needs an invoice with my business operating add…JordanS1234 21 views 2 comments 0 points Most recent by goldinfinite September 10, 2021 3:24AMAccounting Technical Support
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My business is an LLC. In California we are required to pay a yearly LLC “Fee” for the permission to operate an LLC in CA. Last year that fee was accidentally paid twice and I just received the refund check from the state. Wave only offers "Sales Tax Refund" which is incorrect. So how to categorize this? Do I need to create a new accou…apex888 1 view 2 comments 0 points Most recent by apex888 September 9, 2021 11:52PMAccounting Technical Support
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I'm having an issue with setting up payments. I keep getting a message saying that "Your Wave Payments Account can't be setup at this time". It is very frustrating that this is the only means of "real" support for such a great software.sdriggers 1 view 0 comments 0 points Started by sdriggers September 9, 2021 11:41PM Help Center Discussion
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I have connected to my bank account and see my bank info when I log in. When I click on the Accept Payments option (lower left button of the screen) I get the message that payments cannot be turned on. What am I missing?BTT 31 views 1 comment 0 points Most recent by sdriggers September 9, 2021 11:37PMHelp Center Discussion
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Hello, I do monthly recurring billings and sometimes receive payment prior to the date the recurring invoice is scheduled to send. Is there a way I can post the payment before the invoice generates so that the invoice amount due shows as zero when issued. Thanks so much for any assistance.KimW_82 11 views 0 comments 0 points Started by KimW_82 September 9, 2021 8:00PM Sales & Invoicing Technical Support
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If a customer pays and invoice by credit/debit (not wave payment) or check and I manually record a payment, the payment will show up in transactions as payment from the customer. How do I reconcile the cc payments and check deposits to the individual payment. The cc payments are made randomly to my bank in one lump sum, and I make deposits at the…Hassiekay 101 views 6 comments 0 points Most recent by Vizou September 9, 2021 3:27PMSales & Invoicing Technical Support
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I'm trying to set up payment processing in my "test" account, but keep getting hte message: "Wave Payments cannot be turned on at this time. Please contact support to get additional help." Contact just brings me to a general questions page that's not providing any assistance or answers.Nate 351 views 12 comments 0 points Most recent by KevinM September 9, 2021 2:32PMSales & Invoicing Technical Support
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Wave Payments cannot be turned on at this time. Please contact support to get additional help. Why can't I turn on my online paymentMikr 61 views 4 comments 0 points Most recent by KevinM September 9, 2021 2:30PMHelp Center Discussion
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Normally, when I see a credit card payment in my transaction list, I select it where it says uncategorized expenses, then I choose transfer to credit card. Then it shows the matching credit card and I select that which then connects them and I can jit the check mark for both. Lately, it has not been showing the matching CC amount, so I don't know…
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Hi Folks, wondering if someone could help me understand how to use wave to enter gross sales in wave. We receive deposits into our bank account (from cc sales) that include net sales (income), tips (liability), sales tax (liability), and fees (expense). I tried using the split transaction but it doesn't allow me to enter both sales and liability …Lojos 2 views 0 comments 0 points Started by Lojos September 8, 2021 6:40PM Accounting Technical Support
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I do several entries every month. It would be nice to be able to copy the previous months, make changes and save it as a new journal. I can't find a way to do it now and it would be a very helpful feature.mattschilds 131 views 1 comment 3 points Most recent by TheTaxHoney September 8, 2021 5:08PMWave Features
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I didn't run payroll in Oct, Nov, or Dec last year. I want to run a Jan payroll, but I only want it to cover Jan 2020. When I try to run it, it defaults to the Oct 2019 pay period. How do I change that?savvyed 97 views 4 comments 0 points Most recent by Lakota September 8, 2021 3:10PMPayroll & Employees Technical Support
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is there any person who uses this app in Indonesia. please feel free to communicate with each other as I need someone who understands the system. regards Fredy
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There is no activity under certain item in income and expense. I check all my transactions and there's nothing. even when i click the item, there's nothing there. Why my profit and loss still show that itemsUmmul 1 view 0 comments 0 points Started by Ummul September 8, 2021 9:08AM Accounting Technical Support
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Sometimes my customers owe a statement balance. They have an unpaid balance from last month and a new invoice this month. When they pay by credit card, some of them will pay the statement balance. However, the accounting software does not distribute the balance paid among the open invoices. Instead, it will apply the amount paid to one invoice if …
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Hey Guys, Is there a way to show an outstanding balance on the next Invoice I send the customer; and if not, what would be the best way to work around this? Example: I have a customer who only paid $450 towards a $500 invoice. On the next Invoice I want to display a "Balance Carried Over/Outstanding Balance" for $50 so that they pay wh…AsheAUS 215 views 4 comments 3 points Most recent by Cooliotto September 7, 2021 10:31PMSales & Invoicing Technical Support
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my time is doubled or tripled now that I have to manually enter EVERY detail of my receipts. please bring it backAdrianna 45 views 2 comments 3 points Most recent by FAA September 7, 2021 9:36PMUpgraded Accounting Experience
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We offer Clients a fixed-rate referral bonus (deduction from invoice). Is it best to record these as Discounts under the Income Chart of Accounts, or as Products & Services under Sales?NMN 13 views 0 comments 0 points Started by NMN September 7, 2021 6:16PM Sales & Invoicing Technical Support
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It would be very helpful to have tags (customizable labels) to let us track transactions (invoices, expenses, and bills). Also, would be important to group tags together and run reports to see how specific areas of our business are doing. This is an easy way for our team to track the info that matters most.Lisie 51 views 1 comment 3 points Most recent by ohmandrews September 7, 2021 5:53PMSales & Invoicing Feature Ideas
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Why does the app give error messages like the one above with the advise to contact Support if there is no Support to contact? I'm about to cancel and use another tool. Can someone help me resolve this issue?
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Hello everyone , I have a virtual bookkeeping in Florida ( Broward , Miami, Westpalm Beach ) if you are in these areas I can help and also virtually. Thank youRiphSimplified 31 views 2 comments 1 point Most recent by RiphSimplified September 7, 2021 2:10AMUsing Wave
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On August 2nd I was able to take a credit cared payment (see below), now that option is greyed out. Even odder when I go to settings/payments it takes me out of settings and into the invoice list. Credit cards worked on Aug. 2ns Now the option is Greyed out Business in in US and all personal invoice and Fed Tax ID are all confirmed. Any a…SkykingOH 11 views 0 comments 0 points Started by SkykingOH September 7, 2021 1:48AM Account Settings Technical Support
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First post here so very sorry if I am in the wrong place. I tried searching and everything I found had to do with Invoicing or receiving recurring payments. What I am curious about is how to setup recurring bills. For instance, every month I pay XX dollars to an insurance company. It's direct withdraw from our checking. I could wait to see it…DaveHaughs 12 views 1 comment 1 point Most recent by pcastleberg September 6, 2021 1:39PMHelp Center Discussion
