Accounting Technical Support

 

Discussion List

  • The value under transactions for my checking account ($9,779) does not match the value shown on the dashboard (actual checking account value). Also this wrong value is listed on the balance sheet. I started a new wave account at the beginning of the year, and added an accurate starting balance. What am I doing wrong?
    fabb2004 1 view 3 comments Most recent by JulianP April 19, 2021 7:10PM
  • I just used Wave Connect to import spreadsheets of older credit card statements that it was not able to pull from banking and all of the transactions that were supposed to be withdrawals (expenses) are showing up in Wave as deposits (income). Firstly, how can I batch change all of these since I don't see any option under the Transactions tab and …
    ktrow 529 views 14 comments Most recent by KiahD April 16, 2021 8:32PM
  • Hello, I'm new to accounting and bookkeeping I'm trying to be my own accountant. I just want some help regarding how to categorize my shop items. I do cell phone/ computer repairs I have a corporation and I want to know if I buy tools how I would claim them to lower my business income. For example I have a purchased a machine that I will use ever…
    Kernel2021 13 views 3 comments Most recent by KiahD April 16, 2021 8:00PM
  • I am new to the Wave software so not sure where to be in asking questions about transactions, or the software so hope someone can help me. I have a couple questions. I have 2 non-profit organizations, that I do accounting for, both have prepaid expenses and income that are for events in the following year. How and where would I categorize them? I…
    Alpacamom 229 views 4 comments Most recent by AndyM April 16, 2021 5:04AM
  • My husband and I have three businesses between the two of us, all of which started last year. We just filed our first business tax return (2020) and need to get our accounting and systems in shape for 2021 to eliminate stress. Our accountants recommended Wave. But I have some questions as I'm getting things set up but first some more context: …
    LDLOBE 14 views 2 comments Most recent by LDLOBE April 16, 2021 12:03AM
  • I have an amount showing up in Uncategorized Expense on my P&L statement. However, when I try to drill down to see the transaction detail no results are found. I noticed other Wave Community comments about the same issue and the fix was for an Admin to run an accounting reflow to resync the data because of data on the back end not communicati…
    Cat_Howard 11 views 1 comment Most recent by NancyC April 15, 2021 8:27PM
  • I'm having an issue with my Cash On Hand payments doubling up on my income. What I mean is, my Cash On Hand invoices are going to my Services income, and then when I actually deposit this Cash On Hand into my bank account, this deposit goes to my Uncategorized income as well. Therefore, If I mark a $50 invoice as cash on hand, it is actually showi…
    jdarris07 117 views 3 comments Most recent by NancyC April 15, 2021 7:16PM
  • Hello, I currently have 4 soon to be 5 businesses on Wave. I can't seem to figure out how to add a liability(Loan) and asset(value of my property) to the balance sheet. The 4 I have on here are existing so that's not helping to get going. When I add them they go on my P and L too. I saw somewhere about adding a bill. I've tried that and still mana…
    Newbe 11 views 1 comment Most recent by Gabriel_Krozkin April 15, 2021 2:06AM
  • I had $800 come in from a GIECO claim because I got in a car accident and there was a settlement for medical bills and pain and suffering. How would I categorize this income? Is it separate from the business or related since it impacted my work? What would be the name of this type of account?
    Cameron 3 views 2 comments Most recent by Gabriel_Krozkin April 15, 2021 1:56AM
  • Hello all, this is the first time I have done my books, I started my business officially in aug 2020. I started it as a hobby in 2011 and have been keeping all my receipts since I started. I have never done a tax return and I am doing that now ready for next Jan and going LTD very soon. My question is, all my start-up costs from 2011-2018 are …
    JayCox 3 views 2 comments Most recent by Gabriel_Krozkin April 15, 2021 1:46AM
  • There seems to be a bug. When I go to Reports/Account Balances, it shows a -5000 Account Payable, but when I click to see all the details of Account Payable, everything is in order, it's balanced out and it's zero... how can I fix that?
    Tomi 179 views 6 comments Most recent by JulianP April 14, 2021 4:00PM
  • I am confused about how to record a transaction of purchasing a stock ETF. What do I need to add in Wave?
    Cameron 2 views 1 comment Most recent by Cameron April 14, 2021 2:43PM
  • When eBay collects tax for sales IN MY STATE, unlike for the rest of the country where eBay handles it, eBay actually pays out TO ME the tax collected on the sale. In other words, I AM COLLECTING this sales tax, and need to pay out to the state. Because the amount of sales and resulting tax collected in my own state is a small percentage of sales …
    okdess 2 views 4 comments Most recent by AlexL April 14, 2021 2:04PM
  • Hi, I am having a little confusion on setting up the initial accounting for a recent property purchase. How should funds that were used to acquire a property be treated? Should they be classified as equity? I am trying to make sure that they tie into my balance sheet correctly. Thank you!
    MarkC215 11 views 2 comments Most recent by MarkC215 April 14, 2021 12:44PM
  • Hello - new to Wave and trying to test importing receipts - is it possible to customise the categories assigned?
    LizW 42 views 4 comments Most recent by KristenV April 13, 2021 8:23PM
  • How am I supposed to enter additional info on a transacion now? Squeeze it into the payee/description box? I used to be able to enter an invoice number or a description of items for a transaction in a separate 'notes' box but cannot do this anymore. I don't like this and am sure others feel the same. Is this going to be fixed? This pertains to spl…
    fischerdf 2 views 2 comments Most recent by AlexL April 13, 2021 6:51PM
  • Is there a way to setup Email notifications a day before the bills due date that I have to pay
    VinR 332 views 6 comments Most recent by AlexL April 13, 2021 6:19PM
  • I've been making transfers between accounts (for example, moving money from a USD checking account to a USD credit card, or from a Turkish Lira savings account to a Turkish Lira checking account) for a couple years now, no problem. However, I started having a problem a couple days ago, when Wave rolled out the new Transactions interface: Transfe…
    mattkrause 12 views 4 comments Most recent by mattkrause April 13, 2021 6:57AM
  • I have several deposit transactions that were payment for multiple invoices (one was payment for over 40 invoices) and when I try to "Save" to post them, I receive an Error message. I have tried over and over to save and I keep getting "Error saving transaction". When I finally give up and go back to the invoices to see if an…
    WhiteGlove 1 view 2 comments Most recent by AlexL April 12, 2021 8:54PM
  • Hi there, How would you categorize funds sent to an investment account such as Questrade or any other brokerage firm?
    Znat 2 views 1 comment Most recent by AlexL April 12, 2021 8:17PM
  • I am looking for input on how to enter government grants in Wave. The government grants are received based on reimbursement of expenses already paid. Would this simply so in as an invoice from the government program and then apply the payment received against the invoice? I imagine it would require a separate income category? Also, the reimbursed …
    dw11 309 views 2 comments Most recent by JulianP April 12, 2021 6:15PM
  • So, I had some cash left over, and bough listed equities through an investment platform. As a DIY accountant- this introduces three questions for me, which I can't quite wrap my head around. Has anyone smarter than me maybe done this before? * How to record the buying transaction? * How to record the selling transaction? * How to record the capit…
    DehanLouw 196 views 5 comments Most recent by Cameron April 12, 2021 5:15PM
  • Apologies in advance if this question doesn't belong here. Just so I understand the Accounts Receivable in the Reports -> Account Transactions -> Accrual Reporting: If all my clients have paid their invoices in full, then should there be a Debit for the amount of the invoice, and then an equal amount in the Credit column when the invoice i…
    Just_Mark 3 views 1 comment Most recent by CKEL April 11, 2021 6:52PM
  • MakMak
    hi! I am trying to enter an expense and having some difficulty with the new update for Transactions. Has Wave removed the field for entering comments/notes with the expense? I can't seem to find it. Thanks in advance for your help!
    Mak 11 views 2 comments Most recent by Mak April 10, 2021 12:16PM
  • greetings! i'm assembling numbers for income tax. the Canadian form for reporting business expenses requires per category totals EXCLUDING HST. i don't see any way to make Wave generate that, i've set my expense categories to match the CRA categories, so i do get per-category totals, but they include the HST, since expense numbers work that way …
    plutek 12 views 3 comments Most recent by Gabriel_Krozkin April 9, 2021 8:50PM
  • Hi, I am a little confused how to organized USB purchases. I purchase a set of 10 USBs say for $200. I keep them as inventory and sell each one as they are being requested. I am not sure how to file this so that for taxes it is accurate in my expenses. Do I use Bills to capture the expense from the vendor and file it under some category such as,…
    Photography 2 views 1 comment Most recent by JulianP April 9, 2021 8:45PM
  • I noticed that after the implementation of new transaction page, the calculation of the sales tax QST/TVQ that I have setup at 9.975 percent is showing as 10 percent when including it on the new transaction page. Is there something that I should be done. Appreciate your support. Thank you.
    Becks 12 views 1 comment Most recent by KiahD April 8, 2021 7:16PM
  • Hey guys how does one setup multiple credit card users under a single parent account? One Amex account.. 3 users with different cards. is there a sub account feature? Thanks!
    JROBooks 35 views 3 comments Most recent by Cameron April 8, 2021 11:00AM
  • CLNCLN
    For those who have a Wave Money account, have you had any difficulty applying for a PPP loan with it? Right now, I don't see how there's any way to provide a monthly statement as required by the SBA...
    CLN 4 views 0 comments Started by CLN April 8, 2021 3:38AM