accounting
Discussion List
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We own 2 companies: Our company "A" and our company "B", which was recently incorporated. We've been recording most of our purchases of "B" in the books of "A", so in essence "A" has been loaning the money to "B". Therefore, in "A"’s books any purchases made on behalf of the ne…Clau 11 views 2 comments 0 points Most recent by MerlinAccounts_UK August 5, 2019 9:06AMAccounting Technical Support
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As if you hadn't already noticed, the first VAT quarter end that is subject to the new MTD for VAT regulations is due for filing by no later than next Wednesday (7 August). If you haven't already done so make sure you are signed up for filing under MTD now as it can take 72 hours before you'll be able to file. If you are going to be late with th…MerlinAccounts_UK 81 views 0 comments 0 points Most recent by MerlinAccounts_UK August 3, 2019 12:02PMAccounting Technical Support
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I have marked an invoice as paid, however, while doing so I assigned the wrong transaction to the invoice. I'm unable to edit it and attach the right transaction to the invoice, does anyone know how to do this?Nat 511 views 1 comment 0 points Most recent by ZoeC July 30, 2019 4:20PMSales & Invoicing Technical Support
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Before RBC bank, we used to work with TD bank (both Canadian business accounts). We never had an issue with TD but now that we are using RBC, the transactions are not syncing. I do see both the RBC account and the Tangerine credit card in my dashboard but when I check my transactions under the accounting section, I don't see the transactions that …
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How many of you have decided to stay with Wave despite the severing of the bank connections (from September) and the decision not to support MTD for income tax when (if) it comes into effect in 2021? Whist ever there are UK users of Wave we're more than happy to provide support to those users in processing their accounts and vat returns, as well …MerlinAccounts_UK 51 views 0 comments 0 points Most recent by MerlinAccounts_UK July 29, 2019 9:42AMPro Network Listings
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Greeting from Account Specialist PLT, We provide outsourcing accountancy,bookkeeping and taxation services to small medium enterprise and individual. Should you face any accounting (group accounting, backlog case) or tax issue, please do not hesitate to reach us at our email.CSLIN88 31 views 0 comments 0 points Most recent by CSLIN88 July 20, 2019 12:50PMPro Network Listings
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Would like to make wave more usable with some add on features such as 1- Discount tab with % or amount under Invoice 2- Purchase Invoice integration so while making Sales Invoice the maker know what is my buying cost 3 - Can added option of Any Advance amount received from client before Invoice made , later once its done advance amount can be a…
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I have deposited some amount into business checking account in emergency. And now I have taken same amount back to my personal account. Both transactions showing now as "Uncategorized Income" and "Uncategorized Expense". How manage category them in transactions?Sri 321 views 1 comment 0 points Most recent by ChelseaK July 17, 2019 7:09PMAccounting Technical Support
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I specialize in helping small to mid-sized businesses with many professional services including but not limited to the following: - Tax - Accounting - Bookkeeping - Financial Coaching - Other Consulting Opportunties My game plan is to take a wholistic approach, and evaluate your business to see where I can save you time, money, and he…lallen52 51 views 2 comments 0 points Most recent by lallen52 July 6, 2019 10:04PMPro Network Listings
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Why is the Cash flow statement/report only available as an overview of a selected time period, yet on the dashboard one can see (but not access or print) a month by month comparison? I need to be able to access the month by month comparative. Without it I'm afraid this software s useless to my small business. I came across because of recommendatio…Troy_M 141 views 1 comment 0 points Most recent by thomssi July 2, 2019 10:02AMAccounting Technical Support
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Hello, as a single member LLC owner I pay $300 of Franchise Tax annually to the state of Delaware. How should I be categorizing that expense?
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Quickbooks has an excellent function inwhich you can auto-categorize transactions based on rules, such as transaction CONTAINS "GoDaddy" and/or "hosting" etc... (for example) How to do this with Wave? If not available I will be EXTREMELY disappointed in Wave
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What's Wave's best practice for reimbursing employees for business expenses? Does Wave have built-in functionality or a workflow that supports employees submitting expense reports for reimbursement? These expenses are incurred on an employee's personal credit card or paid out of pocket with cash. I've read the reimbursable expenses FAQ, but that u…[Deleted User] 3.9K views 28 comments 0 points Most recent by suzi27 June 23, 2019 10:23PMPayroll & Employees Technical Support
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Hi all, I'm looking at my Profit & Loss statement and I'm seeing that Wave is recording: Payroll Gross Pay + Payroll Employer Taxes + Payroll Salary & Wages as operating expenses. This means it shows the payroll amounts twice as an expense and this expense is duplicate. When I look at Payroll Gross Pay, it shows in the books as Journal…peng_o 1.1K views 5 comments 0 points Most recent by Mikeg June 19, 2019 8:05PMAccounting Technical Support
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The owner purchases something with a personal credit card for the purpose of the business. Following this, an e-transfer is done from the company bank account to reimburse the owner. How do we track taxes paid by the company? There's this article, (https://support.waveapps.com/hc/en-us/articles/208622836-Handling-business-expenses-with-a-personal…js_does_taxes 51 views 1 comment 0 points Most recent by AlexL June 18, 2019 9:19PMAccounting Technical Support
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So Wave have announced they're pretty much back stepping from UK & EU customers - all bank links to be terminated from September for users with UK/EU based banks, and a clear decision too to abandon all hope of MTD for Income Tax compliance (potentially to come into effect in April 2021). Where does it leave you, the UK user then? Well, the …MerlinAccounts_UK 82 views 0 comments 0 points Most recent by MerlinAccounts_UK June 18, 2019 2:27PMAccounting Technical Support
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It doesn't matter where in the UK you are based, you've already leapt into the cloud to do your day to day accounting on Wave so why not stay in the cloud and deal with an accountant that can happily work with you in the same way too? Feel free to get in touch to arrange a FREE non committal consultation - by email to merlindoncaster@gmail.com, o…MerlinAccounts_UK 122 views 0 comments 0 points Most recent by MerlinAccounts_UK June 17, 2019 10:25AMPro Network Listings
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Hi I have a 2 part question, 1. Since Wave accounting does not close accounts, and use accounts like income summary, how do we properly update Owners Equity? Without making the December Profit and Loss account wrong, which happens if you use closing accounts? 2. A separate issue, how do we categorizes Interest Expense? Since it is not an operatin…ddme 201 views 3 comments 0 points Most recent by Kimpton June 11, 2019 7:22PMAccounting Technical Support
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Hello,I am a professional full time accountant that does bookkeeping/consulting on the side. I work remotely, but am based in sunny Sarasota FL. You will have my personal phone number to call or text with questions. This is done on the side so I charge much lower than a CPA or full time bookkeeper. I am also available during the evenings and wee…troympapa 161 views 8 comments 2 points Most recent by HuskyLogic June 9, 2019 7:07PMPro Network Listings
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I'm a small business owner in Ohio with limited accounting expertise. I'm trying to create an accurate balance sheet but having trouble. I'd like someone to help clean things up, reconcile my books and create a balance sheet.
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Hi guys! Does anyone know an Estonian accountant using WaveApp? Thanks for the recommendations.
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Hi all, I've just discovered Wave for my new business and already use Xero as my main accounting package. Ive been trying out the Wave Receipts app and it seems to work very well. Ideally, I'd like to use that to record expenses and have that data (including a pic of a receipt) synced/passed to Xero. Is that possible to do, or if not, is there an …RakeshS 531 views 2 comments 0 points Most recent by Marshall June 3, 2019 5:32AMAPI & Integrations Feature Ideas
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Hi all. New to Wave. My fiscal year is the same as the UK tax year, so started adding my accounts for this year to WAVE and using it for invoicing. How do I add the allowable expenses for a UK sole trader so they do not count towards my taxable income at year end? I am not VAT registered as my turnover doesn't make this necessary. Sorry if this is…VicPicMark 41 views 2 comments 0 points Most recent by VicPicMark June 1, 2019 2:51PMAccounting Technical Support
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Headquartered in Innisfil, Ontario, Canada, we are here to help you with your finances. We understand that being an entrepreneur and business owner can be hard work, stressful, and take you away from your family. We are here to help you stress less about your business financials and spend more time with your family. Whether you’re just starting…aGoodBalance 51 views 0 comments 0 points Most recent by aGoodBalance May 17, 2019 7:47PMPro Network Listings
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Small business based in London looking for accounting services familiar with Wave. Would like help with HMRC filings, VAT (if applicable), and PAYE (for 1 employee).
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How have you categorized a transaction that is going into a tax savings account? None of the account type categorization options seem fitting.valeriem 11 views 3 comments 0 points Most recent by Mikeg May 14, 2019 3:13PMAccounting Technical Support
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The transaction are appearing after the invoices are paid. However for the past 5 days they are still in transit and are not being sent into my bank account. The bank connection has no errors and I have updated it multiple times over the past few days. Could you help in resolving this issue. Thank you.
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so I don't normally use account reconciliation, should I? I run a small self employed business with somewhere between 50 and 100 transactions occur in wave. I have looked back through reconciliation and first month that doesn't match is November 2017 Difference is £52.85 Looks like an invoice was recorded as paid in Wave transactions 25/11/2017…snappyfish 21 views 4 comments 0 points Most recent by Samd May 3, 2019 8:18PMAccounting Technical Support
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Dears Wave's team as non profit business I still examining this software and for non profit accounting it is important to have extra classification for the income and the expenses this can be added in many ways 1- make product and services provide sub items/services , this can help to classify the services as restricted or unrestricted for the e…eyadkat 21 views 1 comment 0 points Most recent by Charlotte April 22, 2019 9:19PMSales & Invoicing Feature Ideas
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Hi, How should the following two transactions in an S Corp's Wave account be categorized and/or handled? Transaction #1: A $50 personal expense is mistakingly made with the business debit card Transaction #2: In an effort to correct transaction #1, a $50 deposit is made to the business checking account from the owner's personal bank accountHOSPM 21 views 5 comments 0 points Most recent by Mikeg April 10, 2019 12:58AMAccounting Technical Support
