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.Katie_Wave Announcement 322 views 51 comments 0 points Most recent by Barsin September 17, 2020 6:56PM
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Hi How do make a transaction where a guest paid in cash and I recorded in the invoice that it’s cash on hand, but later in the week I deposit the money into the bank?
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I have just received a support email (copied below) alerting me that some of my liability accounts have sales tax applied. However when I filter my transactions to show only liability transactions, the ones with sales tax applied are all actually paid expenses in categories that came preloaded in Wave such as Computer - Software etc. These are als…
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I am seriously thinking of moving here from quickbooks but I cant figure out a way to implement their sub-accounts feature as we have a lot of itemized accounts that can be easily categorized. Any suggestions?
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Since my personal account and my business account are both recording bank transactions into their respective bank accounts within Wave, how can I track my personal expenses without them showing up on my Profit n Loss Statement? If I categorize, lets say groceries pd from and for my personal account, as an "expense" it only lets me chose…
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My income lowers by $394.29 when switching from Accrual to Cash Basis. The date range is 01-07-2019 to 31-06-2020. I don't have any unpaid invoices or receipts in that period. Cost of Goods sold and Operating Expenses don't change between the two. Thank you! EDIT: I figured it out. It was an invoice that was sent before the cut off date, but p…
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Bill created (Bill 005 for this example), as below. Shows as paid in full, brill o:) (Image) However, Account Transactions shows something quite different... :| This is reflected in the Account Balances report :/ (Image) However, the transaction itself does look correct :D Why does this bill show as not paid in full in some …
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Hello everybody, I'm wondering how to correctly create a transaction for a foreign currency exchange. I convert 100$ to 77£ but if I use Gain on foreign exchange and Loss on Foreign Exchange for the 2 transactions (-100$ and +77£), the major part of my expenses or income breakdown will be the foreign currency exchange. How can I label it as neut…
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I get soooo confused by my credit card account: when I put in a refund that was paid to my credit card, it takes my balance into the 'minus' zone, as opposed to adding it. I have entered it as a deposit, and the amount is listed in green - why does it subtract it? (Sorry if stoopid question...)
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I've got a transfer from one account to another. When I imported my data, both sides were created, one transaction in account A and one transaction in account B. When I went to categorize them, I categorized one as a Transfer, and Wave automatically created another transfer transaction in that account. Now I can't merge the original transfer with …
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Hi, I'm based in Australia, but this may apply to other countries. Keen to hear how others handle the discrepancy between and invoiced amount, and the amount paid into your bank, when Stripe take their 0.30c and 1.75% (domestic) cut for processing Wave invoice payments via credit card. Say an invoice is for $100 + gst (10%) = $110 total invoice.…
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Hello, What are the best practices to add my investment assets to WaveApps? I understand that Wave currently doesn't support an investment tracker. I just want to view my whole net worth as a whole, so this includes investment I made. Anyone have tips to do this? Thanks.
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(Image) As seen above, the account balances for foreign currencies in the transactions page does not sum correctly for the selected account. The actual transactions in this account currently sum to 0CNY which is correct in the dropdown but incorrectly shows as 18.61USD. In reports, the conversion is correct for each line item, however the summ…
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I have a very simple need. I would like to be able to export the transactions screen. More specifically, I need to be able to have a CSV with all the transactions, including the category. Right now I can make a report for each account, but without the transaction descriptions, or I can have a report for all the transactions, but without the categ…
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Hi I requested data export few days ago and I did not get anything so far.How long does it take?
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I have checks that were entered in one month but didn't clear until the next month so they aren't on the bank statement for the month they were entered. How do I reconcile that month in Wave since I can choose which transactions cleared on the statement?
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Hello Wave Team, this is a feature request for measuring Client Profitability and Costs. Currently, there is an Income by Customer report. This is limited in its usefulness because while a certain customer might bring in a large amount of revenue, it may also cost just as much or more to service that client, and there is no way to measure how prof…BoundarylessJed 31 views 2 comments 2 points Most recent by BoundarylessJed September 14, 2020 9:43PM
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Hello I'm new to Wave and very happy to have the privilege of using such a marvellous accounting solution for free and free means real free. I've a situation where I had to pay Advance/Prepayment to vendor regularly for purchasing raw material and later needed to adjust with the bills they submit. Now I've created Advance Asset Account under Vend…
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I have Owner's private expenses classified as business Opex. I want to reclassify that entire 'Chart of Acct' to 'Owners Equity' now. please help
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I need to add 2 types of sales tax for my purchases. One of the types is a tax recoverable and the other is not, otherwise I'd just combine them into one. Can you do this?
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I'm trying to upload journal transactions into Wave and have not been able to find out how to do it. I've read through the forums and nothing. I'm not trying to do anything fancy. Just one journal transaction (not a simple deposit or withdrawal) with some debits and credits in it like the following: Debit Bank Account Credit Realized Gains/Los…
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Hi I've sent out a statement to a customer directly from Wave. Previously the customer could just see his statement by clicking the link in the email - today the link directs to a Wave login page and wants him to login.. Please advise if this is an error, as I can't expect my clients to create Wave logins to see their statements... tks
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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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for some reason the balance that has integrated does not match the wave balance but the wave balance is the same as my paper copy of my bank statement. The difference is the exact amount of a cheque. I tried deleting the cheque but that didn't work Need to resolve this as this was back in April and I can't reconcile any statements after April
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Hello, I currently use my personal credit card to make business purchases which my corp later reimburses me for. Is it better to include all transactions from my credit card on wave and categorize them according to business VS personal or should I only post transactions that are of a business nature? Regards,
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Please help...I seem to have a few expenses that are stuck in the "Transfer Clearing" account. When I open them up, they are sitting in the correct category. I tried all the methods in this chat ie deleting & re-entering, toggle reviewed OFF/ON Any other ideas would be appreciated as I am at my wits end. The transactions are not sit…
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Hope someone can help as this is stopping us from using Wave. We need to be able to with hold 2-3% tax after adding a 7% VAT to an amount, is this possible in Wave?
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Hello, I'm new to Wave so I apologize in advance if this is a silly question but I notice that there is a difference between how Wave reports transactions on two of my credit card accounts. The first card is through my bank which is luckily one of the institutions that has the connection so everything could be imported onto this platform. The s…
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Im a US LLC. I sell in Canada & USA. I use cash accounting. Im GST registered & remit for my Canadian sales. I had to make a $5k CAD GST "deposit" to the CRA when I registered. I made this deposit with a personal canadian card & payed it off with personal CAD funds. I then converted this $5k CAD to USD based on the monthly…
