Accounting

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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 Most recent by Charlotte April 22, 2019 2:45PM
  • 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 &…
    philip456 2 views 0 comments Started by philip456 May 22, 2019 9:01AM
  • 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…
    shaneg 565 views 19 comments Most recent by JamieD May 21, 2019 9:44PM
  • 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
    Oscar 10 views 1 comment Most recent by Samd May 21, 2019 9:37PM
  • 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?
    pivy 56 views 6 comments Most recent by JamieD May 21, 2019 6:41PM
  • 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…
    Ltkenbo 497 views 3 comments Most recent by Samd May 21, 2019 5:20PM
  • SolSol
    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??
    Sol 18 views 1 comment Most recent by schexnailder May 21, 2019 5:07PM
  • Delete my account
    Rhonda 5 views 0 comments Started by Rhonda May 21, 2019 4:07PM
  • 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
    raza 1.2K views 14 comments Most recent by philip456 May 21, 2019 9:41AM
  • 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…
    Lidia 11 views 3 comments Most recent by mjglso May 21, 2019 4:58AM
  • ewbewb
    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 …
    ewb 17 views 9 comments Most recent by TaxRefresh May 20, 2019 11:23PM
  • 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…
    Tom_Howell 11 views 0 comments Started by Tom_Howell May 20, 2019 11:29AM
  • 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.
    Just_Lurking 416 views 34 comments Most recent by JMac May 19, 2019 12:15PM
  • 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…
    mwphotography 14 views 2 comments Most recent by mwphotography May 19, 2019 4:35AM
  • 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…
    Berdine 6 views 0 comments Started by Berdine May 18, 2019 11:17PM
  • 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 …
    AmyJay 40 views 1 comment Most recent by JordanFromWave May 17, 2019 10:40PM
  • vstvst
    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?
    vst 802 views 5 comments Most recent by rentl May 16, 2019 2:10PM
  • 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.
    bkkclient 1.2K views 18 comments Most recent by nappe May 16, 2019 7:59AM
  • 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…
    Salvy1959 1.6K views 7 comments Most recent by Rental96 May 15, 2019 9:58AM
  • How have you categorized a transaction that is going into a tax savings account? None of the account type categorization options seem fitting.
    valeriem 9 views 3 comments Most recent by Mikeg May 14, 2019 3:13PM
  • 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 …
    BuenoBox 20 views 6 comments Most recent by SpikesBites May 14, 2019 2:01AM
  • The fees are taken out before the sales deposited into my account. How do I make a correct record of sales?
    oldoakpm 31 views 9 comments Most recent by trav2001 May 13, 2019 11:05PM
  • 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…
    Neil 11 views 5 comments Most recent by Neil May 13, 2019 9:03PM
  • 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…
    AlexandraE 228 views 14 comments Most recent by Zoe_caff May 13, 2019 3:23PM
  • 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?
    Elizabeth 969 views 29 comments Most recent by JamieD May 10, 2019 8:52PM
  • Hi there, Say the owner has withdrawn $1000 profit, which of the attached screenshots would be correct? Thanks!
    hong 13 views 2 comments Most recent by Mikeg May 10, 2019 7:56PM
  • 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 …
    madhuri 11 views 3 comments Most recent by JamieD May 10, 2019 3:57PM
  • 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!
    ashraf 7 views 0 comments Started by ashraf May 10, 2019 7:40AM
  • 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…
    majohnboy 552 views 20 comments Most recent by Zeafer May 10, 2019 5:53AM
  • 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 …
    tomorrow 33 views 5 comments Most recent by Mikeg May 9, 2019 11:02PM
  • 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 …
    andreayuriza 3.1K views 51 comments Most recent by TelosAlpha May 9, 2019 2:24PM