accounting
Discussion List
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I just joined Wave and I'm really excited to get more organized, as I'm having to do more myself now. When you set up your accounting, did you start at the beginning of the year? I'm looking at putting my charges into categories and wasn't going to go back further than this year.
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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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Hi, I added a bookkeeper in Wave but they cannot see any of the imported transactions or account histories. Also their Chart of Accounts has just the default entries and they don't have any of the custom entries I added. They need to be able to see all the account balances and imported transactions so they can reconcile, etc. How do I get them to …countyline 11 views 2 comments 0 points Most recent by countyline March 28, 2021 2:49PMAccounting Technical Support
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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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Can I create a new account using API or Zapier? If yes, can you please share the link where I can find the details?ncaccountant 21 views 1 comment 0 points Most recent by KieronB March 23, 2021 5:58PMAPI & Integrations Feature Ideas
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Say I sold a property for cash for 10k, with 1k of that paying for closing costs for an income of 9k. What is the best way to log this transaction? Currently I'm adding 2 transactions, one "Sales" deposit transaction for the 10k income, and one custom "Title Fees" withdrawal for the 1k expense. I'm not a huge fan of this as it'…doubleawilly 21 views 1 comment 0 points Most recent by AlexL March 22, 2021 8:06PMAccounting 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 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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Hello, I need urgent help!! We have EUR as functional currency in Wave. We also have bank accounts in HKD and USD. I noticed however that in many cases, the converted amounts in EUR are completely false making the whole accounting false. I am attaching a screenshots for reference. Please help!Zoran 21 views 1 comment 0 points Most recent by AlexL March 2, 2021 4:55PMAccounting Technical Support
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I tithe off of my business income and it, of course, appears on my bank statement. When doing a Reconciliation, it shows as a business expense, but is NOT a business expense. Any suggestions on how to handle this transaction when doing Reconciliation? Should I just move the amount to my personal account & then tithe?SJMonroe 21 views 3 comments 0 points Most recent by Mikeg February 27, 2021 6:36PMHelp Center Discussion
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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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Hi, All my transactions in my connected bank account are importing backwards. Deposits show as withdrawals and withdrawals as deposits.josecgomez 131 views 15 comments 1 point Most recent by josecgomez February 23, 2021 9:31PMBank Connections
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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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My biz CC is connected to my Wave account and under "Banking" --> "Connected Accounts" it shows my CC account and its balance. However, when I go to "Accounting" --> "Transactions" there are no transactions under my CC account, only transactions showing under my biz checking account. This is the firs…Helios 1 view 1 comment 0 points Most recent by Helios February 21, 2021 3:37PMAccounting Technical Support
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Hello, Looking for advice... for a AAA membership on a Company vehicle, would I categorize the expense as a Vehicle maintenance, or as a membership/subscriptions type expense?DoingBooks 1 view 1 comment 0 points Most recent by Mikeg February 21, 2021 3:28AMAccounting Technical Support
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Specialize in small and start up businesses. We do bookkeeping, tax preparation and planning and payroll. We are here to help please feel free to contact us.Joe_Lentini 11 views 0 comments 0 points Started by Joe_Lentini February 14, 2021 7:59PM Pro Network Listings
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We used to be able to click on the headers in the transaction screen and sort by dollar amount. Why can't we do that anymore?
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Hi, I'm self-employed in San Francisco, CA. Every quarter, I pay my estimated quarterly tax payments of which, I understand, half is a business expense. I record them as "Drawing - Allocation for Income Tax". Question: what's the correct amount to input into Wave? a) The full amount of the quarterly payment, or b) Only half, since that'…ZDesign 271 views 4 comments 0 points Most recent by Mikeg January 21, 2021 3:38PMHelp Center Discussion
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Hello, I'm from India and I only use the basic transaction entries feature along with basic P&L and Balance Sheet reports. I don't need any Reconciliation/Payroll or such features. So, after the recent announcement of Wave only serving users from US and Canada, I'm wondering if I can still continue to use Wave in the future. I've tried more…
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I have problems with the updates from Bank of America which are 2 -3 days delayed. Does anyone have a brilliant idea on how this can be handled? I need the updates to be done at least once a day if not twice a day. Two to Three days behind makes it impossible to handle the bookkeeping and manage the finances.
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I have seen this a few times now and it's quite confusing. My dashboard is showing that it has synced with my bank account 18 minutes ago and showing a balance that is way off. When I go to Transactions I can see the new transactions from my bank and have categorized them. In addition, the Transaction screen is showing the correct balance for m…dtwconsulting 181 views 6 comments 0 points Most recent by dtwconsulting January 4, 2021 6:46PMTechnical Support
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Hello! Several months ago, Bank of America suddenly closed our bank account without stating a reason. We were told to receive a check over the account balance, but it hasn't arrived yet. When it comes to Wave, I now have the following problem: 1. Although the bank account is closed, Wave still shows its ending balance. 2. I haven't received the …Bytesource 41 views 2 comments 0 points Most recent by Bytesource December 31, 2020 2:33AMAccounting Technical Support
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I have a question on how you reconcile the Bank & Credit card transactions if I setup 3 businesses for my 3 rentals? As suggested in this thread, I will setup each rental as a separate business in Wave. https://community.waveapps.com/discussion/comment/18186#Comment_18186 * Say I have setup 3 separate new businesses for my 3 rental properties…Gautam 11 views 3 comments 0 points Most recent by AlexL December 30, 2020 3:44PMAccounting Technical Support
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I get a dozen or so bank card deposits every day. Description begins "5/3 BACNKCARD SYS...". I'd like to have these automatically assigned to the Income category I created named "WorldPay Merchant Account". Currently I have to check the boxes and manually edit the category. Thanks in advance.EricP 1 view 1 comment 0 points Most recent by AlexL December 28, 2020 2:59PMAccounting Technical Support
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Hello! I am new to wave and am in the process of launching a business with my partner. We both have equal shares in the company and before we had a business bank account we were using our personal accounts and credit cards to make payments for all necessary expenses. Thankfully we've kept all of our receipts. For all of these initial expenses, is…SoulJam 11 views 1 comment 0 points Most recent by JulianP December 22, 2020 7:08PMSales & Invoicing Technical Support
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Hello! I am new to wave and am in the process of launching a business with my partner. We both have equal shares in the company and before we had a business bank account we were using our personal accounts and credit cards to make payments for all necessary expenses. Thankfully we've kept all of our receipts. For all of these initial expenses, is…
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In [Accounting] [Transactions], when I check multiple transactions and choose [Edit], I can only change [Category] and [Tax], but many of my transactions have the same [Customer] or [Vendor], so it would be nice to be able to change those at the same time, rather than go back into each every transaction and set the [Customer] or [Vendor] one by on…christopherdawes 262 views 6 comments 4 points Most recent by JulianP November 27, 2020 8:58PMAccounting Feature Ideas
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Following the instructions in this page (https://support.waveapps.com/hc/en-us/articles/208621616), when I click on a transaction -> Choose a category -> Transfer to Bank, Credit Card, or Loan -> it does not show the corresponding transaction from the other bank account receiving the transferred funds Please help!waving 1 view 1 comment 0 points Most recent by JulianP November 24, 2020 9:40PMAccounting Technical Support
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Is there a feature in wave, where there is a category for unallowable expenses to reduce the cooperation tax bill? ie a business lunch for clients can be paid for using the company card, but is not a tax deduction expense.AnthonyS 2 views 1 comment 0 points Most recent by AlexL November 12, 2020 3:40PMAccounting Feature Ideas
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Hear me out. Something very odd happened when I was writing in today's sales. I recorded everything as usual, but then I noticed my cash flow's balance wasn't matching "all accounts" cash, which is the cash on hand shown in the balance sheet. I doubled checked everything, and found out through the Trial Balance that it is unbalanced by t…Aldo 842 views 11 comments 0 points Most recent by AlexL November 9, 2020 3:21PMAccounting Technical Support
