Accounting
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17 discussions
50 comments
Most recent: New Accounting Experience - Adjustment Entries by alexlewiszarkos on
May 20, 2019
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Expand for more options.For the discussion of bank connections and importing transactions.
334 discussions
1.4K comments
Most recent: Chase balance sync still OK but transactions are no longer added by alexlewiszarkos on
May 20, 2019
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Expand for more options.Please note this content is relevant to Wave customers in the United Kingdom. Address any questions related to how Wave is helping you meet your obligations under Making Tax Digital.
2 discussions
14 comments
Most recent: [Latest Accounting Platform] Managing VAT by JamieD on
May 21, 2019
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Expand for more options.All you need to know about the latest feature releases from our Accounting team!
Discussion List
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Accounting is often seen as difficult territory for those of us non-CPAs out there, but learning how to perform the management accounting for your business is easier than you think (we promise)! With our Fearless Accounting With Wave guide, you can take the accounting for your business into your own hands and gain a better understanding of your bu…James_Hudson Announcement 533 views 11 comments 8 points Most recent by Charlotte April 22, 2019 2:45PM
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It would be great to have a help-page article detailing how to enter a one-off annual expense and then spread it through the year. This is the process in Quickbooks Maybe something similar to the article, How do I handle depreciation and amortization? but hopefully without using journal entries. Maybe it's possible with an initial bill &…
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Landlord here looking for the appropriate way to records security deposits that are held in escrow. According to accounting standard the receipt of a security deposit should increase a cash asset account (no impact on income) and increase a liability account. When this transaction imports from my bank I do not have the option to categorize it as…
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I have deleted the bills for (Insurance- property) because it was entered in by mistake.. however, the bill is still stuck in my Cash flow. How do remove it? it is no longer reflecting in my income and expense statement
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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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So I run a small business with a partner and we have just starting using Wave. We run an LLC so our income is pass through and so we periodically distribute earnings from our Business bank account linked in Wave to our personal bank accounts (not setup in Wave). I am a little confused on how to properly record all of this. For example, there is…
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I can't believe I'm sitting here making individual payments that require multiple clicks each on hundreds of invoices. Please show me how I have been just so obviously stupid to miss what should be an obvious multiple invoice payment option??
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Delete my account
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Can we create an expense group/ category and sub-group/sub category. For example: Category : Advertising and within this category a sub category could be: Print Media, or Trade show events or catalogs etc. How can we incorporate this? Similarly for Payroll and other major categories. Thanks
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Hi, In the Receipts mobile app we can upload the receipt, enter some details and 'Save' these before we 'Post to Accounting'. This is helpful, because sometimes I only want to input some of the data and complete it later after I have double-checked some other details. However, in the Desktop app there is no 'Save' option, we have to immediately…
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Is there any way to report purchases made for the business that did not have sales tax applied ? If I buy $100 worth of widgets and the seller adds sales tax (based on my NY location), I pay the 100 + 8.13 tax, so a total of 108.13. In this instance I owe NY no further sales tax. However, if I purchase $100 worth of widgets and the seller does …
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I am a freelance music educator who works from home 2 days a week. I pay for my mortgage, bills, utilities, phone & internet through my personal bank account but I want to apportion a percentage to the business. e.g My total phone bill is £30 but I want to record £5 of it as business use. Do I upload the PDF of the bill for £30, paid out of…
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As far as I can tell, the search at the top of the Transactions page only searches descriptions. There have been times when I knew the transaction amount and wanted to search for all transactions for the same amount. Is that not supported? Happy to add a feature request post, if so.
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When I buy something online and don't pay sales tax, I need to set aside that tax so that I can make my quarterly sales and use tax payment. How to I record use tax as a liability so that I can create a report to tell me how much I owe each quarter? Once I have paid the government sales and use tax, how do I record that the liability is gone? Than…
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Hi there I am no accountant and just need some guidance to make sure I am doing my transactions correctly. I have stripe as payment method in my wave, BUT I also have stripe for my website. My website is not integrated with my wave. So when I receive my money from stripe into my bank account it is a mix between the two platforms. How do I acc…
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Ok, so I'm slowly working my way through how to do things here but even with extensive research I'm having a difficult time wrapping my head around the how I record my drawings and personal payments. When we started the business most of the payments (phone bill, etc) were set up with my personal bank account, and have not all been changed over …
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I'm trying to verify a receipt on a refund on a expense. Because it is a refund, the amounts on the receipt are negative, including the sales taxes. Wave doesn't let me do this, saying "Receipt total must be larger than sum of taxes". How do I deal with this?
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I want to enquire how does one record the assets and liabilities in wave as I am struggling to capture the new assets that was bought by my client? I recently started using Wave so I am still learning how to use it.
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Can you explain how to categorize owner equity and withdrawals from a business checking account. * I will be opening up a separate business checking account. Say I plan to deposit $2000 from my personal money to have some operating income for the business. How would I categorize this? * If I make a future deposit of from personal funds, ho…
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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.
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Im not sure what to do in this situation. I purposely did not add my credit card to my wave account because I wanted to add reciepts and didnt want to worry about duplication. I dont want to have to go through hundreds of reciepts and pair them with the credit card transactions. Too time consuming. When I go to pay my credit card wave counts that …
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The fees are taken out before the sales deposited into my account. How do I make a correct record of sales?
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Please help, loving Wave and have figured most of it out for myself, but there is one issue I can't seem to solve... I am based in the UK and often Invoice US clients in dollars. Once I've been paid I would like to "record a payment" to match up the payment with the correct invoice. However the currency conversion is always a few pounds diff…
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I am at a total loss. When entering new income I want to associate a customer with it. But there does not seem to be a field for that. Same thing for expenses. I can't link the expense to a paritcular vendor. that's bad because if i run a customer or vendor report it won't work and i never can see how much i made from each customer. Anyone h…
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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?
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Hi there, Say the owner has withdrawn $1000 profit, which of the attached screenshots would be correct? Thanks!
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wave team , please could you look into this . i have recorded a payment for a invoice as cash payment for rs 400 . the same payment when i check in report shows as 399.99. the report i am checking is under Reports>> account balances>>. i am choosing cash on hand , and in repirt type i have chosen " cash and cash equivalent " This …
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Hi, is there a way to select multiple transactions from the transactions page, and bulk assign them to a specific customer ? Can't seem to find a way to do that, and can't afford to do it manually for every transaction! Please help!
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Hi, I need to invoice somebody for $306.25 + $30.62 sales tax = $336.87. This is because I have the booking agreement already where the client has rounded the 0.5 cent sales tax down. However, with wave apps, the sales tax is automatically entered in using the 10% calculation. When I enter $306.25 (ex tax), the tax is automatically calcula…
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I'm a freelancer in Belgium, and the general take here is that for every paid invoice I should set aside 50% of it, that will end up in state taxes and national security/pension funds. I opened at my bank a checkings and a savings account, and every time I get paid I transfer 50% of the sum to the savings. Once tax season comes up, I use those …
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Hi We're doing multiple projects for numbers of customers. Our questions are: 1. Is there anyway that we could track and compile income and expenses for particular project by using waveapp? 2. Is there anyway that we could track and compile income and expenses for particular customer by using waveapp? 3. Is there anyway that we could track …
