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Hi I have a few expenses that I still pay for myself. So I create journal entries for each expense (debiting the expense account and crediting the following equity account: Owner Investment / Drawing account). Here is what I am not 100% sure about: The Owner Investment / Drawing account equity account is under Retained Earnings, instead of und…generalinq 582 views 6 comments 0 points Most recent by generalinq February 6, 2021 9:48PMUsing Wave
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I just added my first timecard employee, so far they have all been salaried. I was expecting them to be able to enter their hours directly in Wave, but that doesn't seem to be the case. Am I missing something?KeithPaskett 391 views 2 comments 1 point Most recent by FridayCoffee February 6, 2021 7:13PMPayroll & Employees Technical Support
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Capital assets in WaveCapital assets are what your business owns that help you make money. This article will explain how to recognize a capital asset and enter it into Wave. What defines a capital asset? A capital asse... Read the full story hereSystem 6.4K views 14 comments 0 points Most recent by AlexL February 5, 2021 9:23PMHelp Center Discussion
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I've made the changes that I want to customize my invoices. However, the "save all changes" button is greyed out. I have checked to make sure that I have all the required fields completed. What have I missed?
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[US] COVID-19 payroll updatesCongress, the White House, and other federal agencies have been taking swift action to provide rapid financial relief to small business owners. Additional actions are likely in the coming days and ... Read the full story hereSystem 1.4K views 14 comments 0 points Most recent by Me_too1 February 5, 2021 7:44PMHelp Center Discussion
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Hi there I'm new to Wave. I just setup a connection to my my bank and credit cards accounts. After that, wave imported all the available transactions since some time last year. Just wonder if I can delete all transactions before 2021-Jan-1st and replace it with a balance at the beginning of the year. I did try to delete these transactions. However…andyngo 1 view 1 comment 0 points Most recent by NancyC February 5, 2021 7:38PMAccounting Technical Support
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Why only a portion of the income that is entered shows up on the P&L Report?
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Hi - looks like I can search and categorize in bulk only 1000 entries at a time! Is there a way around this to do all my transaction (30K+) in one shot? Thanks! :-)TxSonia 1 view 1 comment 0 points Most recent by NancyC February 5, 2021 7:06PMAccounting Technical Support
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I am trying to record a payment which consists of two parts: utility charges and utility deposit. So I click on "Add expense" and write the description, enter the total amount, etc. And then I click "Split this withdrawal", choose the right category, and enter the amount for the utility charges. The problem comes when I try to …
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I am used to using Surepayroll. Why is payroll cost and withdrawal amount different?AnnaB 31 views 4 comments 0 points Most recent by AlexL February 5, 2021 5:31PMPayroll & Employees Technical Support
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Wave's introduction of the "Wave Payroll Clearing" account is fine, I suppose. BUT I have a situation dated early January 2021, where I have a credit to the clearing account which has not been (automatically) matched with the payment from the bank account. I have tried allocating the payment transaction to the clearing account, but Wave …ZimboDave 103 views 1 comment 0 points Most recent by AlexL February 5, 2021 4:47PMPayroll & Employees Technical Support
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I am trying to make the transition but just reworked an Estimate and when I printed it, the font size is super small. I don't see any way to make it a size that an average human can read. Please tell me I've overlooked it and help me make the change. TIA for any help.NCoury 91 views 1 comment 0 points Most recent by AlexL February 5, 2021 3:51PMSales & Invoicing Feature Ideas
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Form 1099-NEC: Generating and filing contractor Non-employee Compensation formsBeginning with the 2020 tax year, non-employee compensation is reported in Box 1 of Form 1099-NEC. This change means that independent contractor payments made through Wave will no longer be reporte... Read the full story hereSystem 4.9K views 3 comments 0 points Most recent by AlexL February 5, 2021 3:26PMHelp Center Discussion
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In the Profit & Loss report, you can click on the little icon by an account name to see the associated transactions. However, the resulting report does keep the date range and report type that was initially selected. I have to adjust the report type and date range manually every time. My Profit & Loss header The resulting header in Ac…nhinze 11 views 2 comments 0 points Most recent by nhinze February 5, 2021 2:36PMAccounting Technical Support
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[Canada] COVID-19 Reporting the Ten-percent Temporary Wage Subsidy for EmployersOn August 4, 2020 the Canadian Revenue Agency (CRA) released Form PD27, 10% Temporary Wage Subsidy Self-Identification Form for Employers to report the Ten-percent Temporary Wage Subsidy (TWS) that... Read the full story hereSystem 4.6K views 3 comments 0 points Most recent by KristenV February 4, 2021 9:41PMHelp Center Discussion
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I am wondering how to properly categorize items which are to be used for the business? For example, if I was to purchase a stereo to be used for the business only, or a magazine subscription for the business only... Thank you!
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I have tried to reconcile my Line of Credit account but it will not balance. I have gone through and made sure all transactions for the account form the bank are entered. The issue is with the interest expense for the line of credit not being categorized correctly I am assuming as the amount Wave claims is in the account adds up to the interest …Farmer_Frank 51 views 4 comments 0 points Most recent by KristenV February 4, 2021 8:05PMAccounting Technical Support
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I am trying to add new email but the verification email is not getting delivered. I have been for almost 8 hours now, I even checked spam/junk but there is nothingbekomedia 21 views 13 comments 0 points Most recent by Wavie February 4, 2021 8:59AMAccount Settings Technical Support
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I just switched from Quickbooks where you can run an HST report for any period (I do mine quarterly) and see all the figures and line numbers that match the CRA's requirements for easy filing. How do I do the same with Wave? (Note, I disconnected from my bank, which was a huge mess and inconvenience, so this is all based on info I've input in Wave…squ1sm_ 11 views 1 comment 0 points Most recent by JulianP February 3, 2021 8:11PMAccounting Technical Support
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Changing your deposit accountChanging deposit account If you ever need to update the bank account where you receive your payments, you can do this from directly within your Wave Account! Simply log in to Wave then click the Se... Read the full story hereSystem 5.3K views 13 comments 0 points Most recent by JulianP February 3, 2021 7:56PMHelp Center Discussion
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Hello All I am new to Wave and I wanted to use Wave to speed up my credit card processing time. I have integrated Wave to my store but I dont see Wave payment options in my checkout. Help??BatFlipShop25 1 view 1 comment 0 points Most recent by JulianP February 3, 2021 7:29PMHelp Center Discussion
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[Limited release] How to download the Wave Money appWave Money is currently in limited release. Search another help topic? The Wave Money app is in limited release and isn’t available in the App Store yet. You can download it using TestFlight, App... Read the full story hereSystem 2K views 7 comments 0 points Most recent by JulianP February 3, 2021 7:14PMHelp Center Discussion
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Hello, I have three companies, representing different real estate - Company A, Company B, and Company C. Company A is the parent company, owning 100% membership in Company B and Company C, respectively. Since Company A is the parent company, all money must flow from it for initial investments (before each child company can self-generate income)…yurtdwller 11 views 1 comment 0 points Most recent by Kimpton February 3, 2021 3:44PMAccounting Technical Support
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Hi there! Just another quick request for this feature. It would make life so much easier! *I get a paper (or email) invoice * I upload it the same way I for expenses * I select either "Create Bill" or "Add Expense" * Add Expense works as it currently does * Create Bill lets me add vendor, due date, amount, etc Having my bil…ohio_bryce 1 view 0 comments 0 points Started by ohio_bryce February 3, 2021 3:53AM Accounting Feature Ideas
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What is the best way to categorize and keep track of payments made on behalf of a client? I am a web designer and I bill my clients each year the hosting renewal fee is issued by the hosting company I purchase from. I bill the client for this fee so therefore am reimbursed. It doesn't seem like it is technically an expense since I get paid back …valeriem 21 views 1 comment 0 points Most recent by Mikeg February 3, 2021 2:59AMAccounting Technical Support
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I don't know how to directly transfer money from my personal account to my business bank account. So I use paypal. I see then three transactions, a green transaction in my paypal then a transfer to my bank and a transaction in my bank. How do I categorize each?
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Please assist as we need a report for all outstanding estimates is this possibleEd760424 11 views 1 comment 0 points Most recent by JulianP February 2, 2021 9:33PMSales & Invoicing Technical Support
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I own a small business where I build and then sell a product. If I make a sale and take payment through PayPal, what is the best way to enter the transaction into Wave? I could enter in each PayPal transaction manually (and also enter in the appropriate sales tax). When the time comes to then transfer funds from PayPal into my bank account (whic…
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I printed off my annual Cash Flow Report to make preparations for submitting my small business information to my tax professional. However, many categories are simply not represented in the report. Indeed, the Cash Flow Report does not, at all, reconcile with the transactions page for the year. From a cursory glance, it looks like none of the paym…GeoffB 11 views 1 comment 0 points Most recent by JulianP February 2, 2021 7:49PMAccounting Technical Support
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I just started using Wave today because one of the biggest problems I've had with other apps is the difficulty with depreciating my tools/equipment. So after a friend show me this article https://support.waveapps.com/hc/en-us/articles/208623506-How-do-I-handle-depreciation-and-amortization- showing how easy it is in Wave I decided to give it a…Jacob 831 views 7 comments 0 points Most recent by Admin_KaliZoe February 2, 2021 11:29AMAccounting Technical Support
