Accounting Technical Support
Discussion List
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Having an issue with the update to Account Reconciliation? Please let us know here so our team can help! If you're looking for help getting started with your Account Reconciliation, you can get started here.
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Reports in Wave are currently undergoing maintenance. Some users may notice that Reports, Reconciliation, and their Dashboard are not displaying all data. Our team is working to ensure the 2% of users impacted by this maintenance are back to normal as soon as possible. This notice will disappear once maintenance is complete. If your post has been…
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How do I move transactions between businesses?
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we collect rent on behalf of owners, monies go into Trust Account, owners are charges % of rents received. how do people set up their invoices to owners for the management fee, and how do you move monies from the Trust account to owner payout
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How do I set up a subsidiaries on Wave Accounting? One of our subsidiaries does the management (Mgmt Co.) and I would like to transfer the income collected on behalf of the Parent Company.
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I have a situation where I need to file quarterly sales tax reports with the state, which include all gross revenue, and then a deductions worksheet to show various tax exemptions. I would like to include the sales tax on all invoices so that I can include them in the report on Wave, however, I also need a way to offset the taxes into an account …
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I'm currently having a problem with the cashflow statement in Wave: The total cash inflow reported on the cashflow statement seems to be inaccurate as it is not equal to the sum of each cash inflow (which is also reported separately on the cashflow statement). Below is the cashflow report that I'm struggling with. It's quite odd for things to go …
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Each month I have a folder with 100+ email receipts for purchases for our company. However, as Wave do not allow multiple receipts to be uploaded at once. I each month need to spend 60-90 minutes one by one clicking each receipts and uploading them individually. Any plans for this to be able to be done batch wise. Other companies have gotten this…
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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…
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It took me a lot longer to find this issue than it should have, but I am still not entirely sure how the numbers make sense. The issue was caused by a transaction being listed as a debit instead of a credit -- however, the amount shown as the difference is double that of the transaction. It's probably just the lack of coffee this morning, but sh…
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A customer has two invoices outstanding and sends me one check to pay both. How do I connect and reconcile the check with two (or more) invoices?
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Hi there, I have a problem where my trial balance report is unbalanced by this MYR7.00. It shows up dated 26/09/18 but I've no way to find this transaction. I've attached a picture of it below. Can someone please help? Thanks Rushdy (Image)
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Can anyone tell me the proper way to categorize Income Tax payments to CRA in Wave? I am also wondering how to categorize my HST refund. I assume these are not typical income and expense accounts but am not sure how to account for them. Thanks!
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Hi, I have a particular situation where you purchase something as an asset, but under the bill option there is only expense / COGS. Where can I add my purchase to an asset account? 2) If my purchase is for COGS item, I purchase it, it goes to COGS as expense, but at the same time doesn't it need to balance the inventory asset side? Which is weird…
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So just a simple question I hope. With regards to accounting properly when I download my starling bank CSV is has 3 columns "Counter party" "reference" "type" I have switched to Starling bank and my old Santander bank there was just one column for "description" But Starling CSV is like this Counter part…
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Dear all hope you have been fine. I am writing from Kenya where Wave is really BIG. One challenge I am having is with my EURO Bank account. On the Transaction view, the Closing balance is EUR 269 which is translated correctly to the home currency of KShs 30,000. However on the Trial Balance and Balance Sheet view the home currency is shown as KShs…
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Hello :smile: I'm trying to create an expense transaction using a USD account ( Our main currency is JOD). Usually when selecting an account with different currency, a validation is done to change the currency on the total amount field, but it doesn't seem to work, and when trying to save the transaction an error message is displayed "There …
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When i search something in wave it's saying "No transactions found with your selected filters." But that keyword is in my transaction list. Why it's not showing in search list. Previously i have used this feature correctly. Since few days i got this error. Please someone help me. (Image)
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How can I record a purchase through Wave Receipts and categorize it to an asset account such as "Raw Materials". I buy raw materials to manufacture into finished goods using a corporate credit card, and thus want to use Wave Receipts to upload the receipt and record the purchase as raw materials. It appears I may only purchase such ite…
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My partner gave me a truck for my personal use in exchange for the remaining amount of money owed to start the business. We agreed to both put in the same amount and the truck to me was part of the deal. How do I categorize that within Wave. The one side is his owner equity account but the other side is not income, nor is it a withdrawal. So…
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I have 2 companies, Mgmt Co. and Holding Co. All properties are under the Holding Co. and the Mgmt Co. manages it by collecting rental income on behalf of Holding Co., which means we doesn't want the tenant to know the Holding Co. name for liability issues, and only wanted them to know the Mgmt Co. name. How do I set up the recurring invoice that …
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Hi there, How does one end your financial year and start the new financial year. In my case my financial year ended 28 Feb and the new one started 1st March. Does wave close the books?
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I have 3 bank account SAR/USD/EUR and having problem to make the transfer between the 3 account in Wave, how this can be done and is it possible to update the rate by my own. Thanks,
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hi.. for the past week the cash flow statement has not been properly updating.. it is not reflecting all the other accounts.. no matter how much transactions I'm inputting and receipts I'm uploading the cash flow remains as is.. help pls
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Hello! My business is located at my home, which I share with my family. I'm not sure as to how exactly I will "bill" myself for water and electricity, considering that my bills are for my entire household. What would be the easiest way to figure out how much electricity and water I have to pay for just my business? I had a friend sugges…gabrielmarquez484 23 views 6 comments 0 points Most recent by gabrielmarquez484 December 9, 2019 3:17AM
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Dear Wave, first of all, many thanks for this great software, it really makes the life simpler. I have a big problem here, and would be very appreciated for your help. I have EUR and GBP account in my bank. EUR is my accounting currency. I lend (zero interest) some GBP to my partner, and he is paying it back afterward. At the end I've got all my …
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Hi! I have a new business and I'm just starting up my accounts. I can't seem to figure out how to account for my investments. I am investing cash, equipment, and tools (ex. cutlery, knives, other small kitchen tools). All I know is: 1. Cash - debit cash (current asset) and credit capital contributions (owner's equity) 2. Equipment - debit equipme…gabrielmarquez484 14 views 8 comments 0 points Most recent by gabrielmarquez484 December 6, 2019 3:33PM
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I have an S Corp, and I'm my sole employee. The S Corp pays my health insurance premiums, which are subject to income taxes, but not social security or medicare. Is there a way to get Wave to properly account for this tax treatment?
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I'm moving over from Quickbook and need to run reports based on an individual Customer. I used to be able to do this in Quickbook by running a P&L report and filtering by Customer Name., I can't seem to figure out how to show income and expenses for indivudual customers... Is there a way to do this??? Thanks
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I went to reconcile my bank statement for the year. It said it had been last reconciled on 12/31/18. I started with January. After I entered the ending balance, Wave says that it has already been reconciled! So then I start with February, enter the ending balance, and it says the same thing! I thought I'd try a different account, and the same thin…
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I created three businesses on Wave and want to consolidate some of the items. Wave lets me move transactions from the first business to the other two, but not from those two into the original business. How can I fix this?
