accounting_help
Discussion List
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My Business account had surplus funds I did not need to use, so I opened an investment account under it and invested some of the surplus in a balanced mutual fund. I know the tax implications but any post-tax return is better than the money sitting idle. 1) In wave app, where should I create this new investment account? I will have to move money …sanjeevj 11 views 1 comment 0 points Most recent by sanjeevj August 31, 2021 2:50PMAccounting Technical Support
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If I have made a transaction for credit card for fuel purchase. Then I made a payment using by checking account for that specific fuel purchase. Should I create just a transfer for that then delete the transaction. Or should I keep that fuel transaction and create a transfer for credit card payment.jc_123 1 view 0 comments 0 points Started by jc_123 August 31, 2021 1:36PM Accounting Technical Support
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I have accepted multiple payments via wave invoicing in the past and now all of the sudden on the most recent 3,I get an email saying all future payouts are denied. Never had a returned payment or anything to indicate risk. I can provide contracts, receipts, real humans to verify their intent to pay and for what services. I just don't understand.…Judson212 21 views 0 comments 0 points Started by Judson212 August 16, 2021 12:16AM Sales & Invoicing Technical Support
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Been using Wave for about a year now for expense and income tracking, and looking to set up the initial vendor takeback financing on a property purchase, as well as the legals fees, etc that started the business. Also looking for some guidance or tips on how to handle the GST aspect of things. You don't need to be located in BC, but need to be fam…Alton 31 views 5 comments 1 point Most recent by Gabriel_Krozkin August 12, 2021 11:54PMFind a Wave Pro
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Hello, my name is Leandra and I'm the owner of Stingray Advisory Group LLC. We're based in Michigan but support clients 1-on-1 throughout the country with their bookkeeping, marketing, and planning needs. We're currently supporting many small business owners with questions about general accounting best practices, COVID-19 funding programs and fund…StingrayAdvisoryGrp 1 view 0 comments 0 points Started by StingrayAdvisoryGrp July 20, 2021 8:44PM Pro Network Listings
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Hello all, I was wondering what the process would be if I’d like to setup my ETF investment accounts on my wave bookeeping accounts. Basically amounts are debited via my checking account and then ported over to an investment account. Since this isn’t really a withdrawal and more of a deposit into another account, how should i go about allocating …Violanation 991 views 10 comments 0 points Most recent by LukeVanderlinden July 3, 2021 8:52PMAccounting Technical Support
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3B Accounting is a full-service, world-class accounting and management consulting firm fiercely focused on satisfying clients like you as we guide you to attain your financial freedom. We take the dullness out of the facts and figures by deciphering the numbers' messages so you can have the best lookout for your hard-earned money and get the value…3B_RS 1 view 1 comment 0 points Most recent by Sch_Electric_Sol June 26, 2021 6:45PMPro Network Listings
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Roy Schneider, CPA is an incredible CPA who helped me get my business started and all my company and personal finances in order. He helped me with bank management, budgeting, reporting, transaction planning, and so much more! He is excellent in legal tax savings, management consulting, branding, and goes way beyond what I've seen other accountants…Sch_Electric_Sol 33 views 1 comment 1 point Most recent by 3B_RS June 26, 2021 6:07PMFind a Wave Pro
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I'm having trouble reconciling my account. I've crossed-checked my statement and the Wave transactions multiple times and it says I have a difference of $42.03 but I can't see that anywhere. Does anyone know what this could be and how to fix it? Thanks!elisethemisfit 1 view 1 comment 0 points Most recent by NancyC June 8, 2021 7:04PMHelp Center Discussion
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My business is not making enough money for me to pay subscription fees from my business account. So, I use my personal credit card for such purchases. In hindsight, I can see how that was a bad idea. How do I record those business transactions from my personal credit card? I have been using the following: Account: Owner Investment / Drawings Dep…AlexC_AU 711 views 16 comments 1 point Most recent by KarlAviu June 4, 2021 3:36AMAccounting Technical Support
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Hi there, I am a bookkeeper and currently taking on more clients. I am in bay area and work remotely and would love to discuss your bookkeeping requirements.Sandos_Bookkeeping 11 views 1 comment 1 point Most recent by RanjanSivam June 2, 2021 8:17PMPro Network Listings
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Can’t find a way to generate po’s or track payments to suppliers and sales people. Is this critical features STILL missing from the app? Is there a zapier integration that would compensate? What about inventory management and other tie in needs? I’m not thrilled with having to login to 2 different crm modules but IF wave doesn’t have it I’m wil…SmartNotHard 241 views 8 comments 0 points Most recent by MJKGroup May 18, 2021 9:59PMSales & Invoicing Technical Support
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Is it possible to change the Invoice Payment description, instead of just saying "Invoice Payment" to "Invoice Payment from Customer Name" Though it is in category description, but it would be very helpful if the transaction description is updated for both bill payment and invoice payment with the vendor and customer name. Spec…Cetustone 21 views 3 comments 1 point Most recent by GreigH May 17, 2021 8:49PMAccounting Technical Support
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I deleted an invoice, but the amount still shows on the P&L. When i click on it says - The page you tried to visit doesn't exist This is usually caused by an incorrect or outdated link. Please assistBeke2020 101 views 23 comments 0 points Most recent by AlexL May 10, 2021 8:52PMAccounting Technical Support
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Hi, I am new to Wave and was absolutely loving it! Then I needed to send a vendor a purchase order and noticed Wave doesn't offer the capability. I've contacted support and they say they have no plans to add purchase order support. I have a business where many vendors require a PO and currently I manually create them, but it's a huge hassle. I als…blinden 157 views 3 comments 2 points Most recent by KiahD May 6, 2021 9:03PMSales & Invoicing Feature Ideas
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Hi, I purchased a building in 2020 to start a little business. The purchase price was $45,000. I borrowed $36,000 from a bank and paid the balance (down payment) with my personal equity. I worked with a Wave coach and he entered the following journal entry to record the purchase: 1) $45,000 debit to an asset account (Property, Plant & Equipme…
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We are selling raffle tickets for someone else. We don't get a cut, it's a straight in and out of the bank account situation. What sort of account do I open to record those transactions? I don't think it should appear on the P&L report. Is that correct? THANKS!!Pip 1 view 1 comment 0 points Most recent by JulianP April 5, 2021 5:55PMAccounting Technical Support
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I have checking account dividends deposited into my checking and I'm not sure how to properly categorize this. I also have the same issue with my credit card issuing cash back rewards which appears as a credit. Does anyone know how to do this? Thanks!
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Hi all, new to Wave, moving from an older, simpler system. I understand billing for services, that’s straightforward enough. My problem in short: clients provide used items (eg. a laptop), the current value of which is effectively unknown. I sell the item for them, and charge them a percentage commission. Here’s what I’ve worked out so far: * C…OldMacITGuy 1 view 1 comment 0 points Most recent by AlexL April 2, 2021 6:18PMSales & Invoicing Technical Support
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Hi there! I am new to Wave and still trying to learn the features and best ways to use. I have a very simple single-member LLC s-corp consulting business. I have a business checking account where revenues and future business expenses come in. I also have a personal credit card and checking account where I have certain transactions that I would a…adventurous_sky 21 views 1 comment 0 points Most recent by AlexL April 2, 2021 1:25PMAccounting Technical Support
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Hey everyone, I hope you're all very well and it's great to join the community! I had a quick question regarding the integration of my business bank account (Starling) into Wave. I've connected my bank account to Wave but I've noticed that it's not picking all transactions up (particularly income). It also isn't recognising expenses as expenses,…
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I need to submit my business return to CRA and because my first year was very simple (zero revenue, very few expenses), I don't want to use my accountant for this (I have another business that is much more complicated and he and my bookkeeper use Quickbooks to manage bookkeeping and accounting for that). From what I can tell, Wave doesn't have an…Mikebrcic 2.2K views 13 comments 1 point Most recent by paulpat March 24, 2021 4:29PMAccounting Technical Support
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Hi there, Quick question regarding expenses paid out of pocket. The only expenses incurred by our business in 2020 were paid out of pocket. I listed all of these expenses in the owner investment/drawing account type. When I run our balance sheet to prepare our taxes I noticed theses expenses show under equity. Is this correct? or should these exp…T_NewBusiness 21 views 0 comments 0 points Started by T_NewBusiness March 13, 2021 2:50PM Using Wave
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I'm new to the Wave world. I've just put in all my receipts for the expenses for my small business. I can't seem to find a category for my supplies to make my product. I've put them in office supplies but it's not right to me. The other option I can see is uncategorized expense... Can anyone give me some insight please? Thanks!creations_dina2020 1 view 1 comment 0 points Most recent by JulianP March 12, 2021 4:52PMAccounting Technical Support
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I have 2 separate accounts within Wave. When I run year end P&L reports, some income items from Account 1 (Compass) are reflected in Account 2 (Mann). When I drill into the details, all transactions are correctly categorized and reflect the proper account. * I've reviewed all transactions * I've reconciled all accounts * I've confirmed that…CompassMann 21 views 1 comment 0 points Most recent by AlexL March 9, 2021 3:20PMAccounting Technical Support
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I have linked my business bank account to my Wave accounting system. The transactions are importing without problem, but I noticed that my bank balance does not show on the balance sheet under my assets. How can I rectify this? Or do I need to do this manually? Thanks for you help!Steven_Heyman3 51 views 2 comments 1 point Most recent by Steven_Heyman3 March 5, 2021 9:53AMBank Connections
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I created an invoice in June & charged my client sales tax. They just came back with their sales tax exemption form. The invoice has been paid. How do I refund the sales tax in the system?Oceanside 71 views 4 comments 0 points Most recent by BrushHammer February 26, 2021 12:49AMSales & Invoicing Technical Support
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I had another accountant clean things up in Wave for 2019 but last year was so up and down that I couldn't make the leap to hire someone on a regular basis. That has resulted in my 2020 in need of help I'm sure. I am more of an email kind of guy as I'm trying to learn how to get things setup and run correctly moving forward. I'm also super busy…restorwood 21 views 1 comment 0 points Most recent by AnnVanyo February 23, 2021 7:39PMFind a Wave Pro
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I need an accountant that is available on an as-needed basis to help me with various accounting issues with my business. I have an accounting degree that I
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I have to document a donation we are giving a charity. We have decided to donate a website design template to them but we have to document the price for the template for tax purposes but in a wave, I see nowhere to document or create a credit note.hurdvontae 11 views 3 comments 0 points Most recent by NancyC February 17, 2021 3:18PMSales & Invoicing Technical Support
