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 559 views 11 comments Most recent by Charlotte April 22, 2019 2:45PM
  • The link in the email you sent me does not work. I need webinars and I need customer support. I have sent and do not get any response.
    PeggyLee 49 views 4 comments Most recent by Clean4me_ June 16, 2019 12:59AM
  • Need to write depreciation checks for myself. Is there a way to print checks in Wave other than payroll - which I do not use?
    aallen 5 views 0 comments Started by aallen June 16, 2019 12:07AM
  • The owner purchases something with a personal credit card for the purpose of the business. Following this, an e-transfer is done from the company bank account to reimburse the owner. How do we track taxes paid by the company? There's this article, (https://support.waveapps.com/hc/en-us/articles/208622836-Handling-business-expenses-with-a-person…
    js_does_taxes 5 views 0 comments Started by js_does_taxes June 15, 2019 10:54PM
  • Where is the "Payment for an invoice in Wave" option? It doesn't show at all on my USD or EUR accounts.
    antz29 11 views 1 comment Most recent by JamieD June 15, 2019 2:17PM
  • when I report my invoice as paid I merge it with the bank transaction and change the catagory to the service that the payment is for. The problem is when I go back into the invoices its back there again showing as not paid. If I leave the catagory alone the income does not show on my profit and loss report because the invoice has its own unique ca…
    Poochrunner 5 views 1 comment Most recent by JamieD June 15, 2019 2:02PM
  • I have a client who likes to pay me in advance, and I just bill all her invoices to that pre-payment. Is there a way to create a credit memo where when I create an invoice for that customer, I can use the credit member to pay it?
    HuskyLogic 15 views 1 comment Most recent by JamieD June 15, 2019 1:30PM
  • Hello, Is there a way to automate BILL NUMBER creation when creating new bills? Instead of adding the BILL NUMBER manually?
    TheZeee 8 views 2 comments Most recent by TheZeee June 15, 2019 9:13AM
  • 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 1.3K views 19 comments Most recent by MKK June 15, 2019 8:29AM
  • How do I put a negative amount into an invoice to represent a refund.
    Charlie05 1.1K views 24 comments Most recent by Barsin June 14, 2019 9:25PM
  • Hello all, after days of trying I give up on how to add personal items such as my van, zero turn mower, chain saws etc. to the handyman service I'm about to start. I have no idea how to enter $50k in items to a business so it shows the business still owes me $50k and it doesn't show up as an asset. Any help gratefully accepted.
    Studio208 10 views 5 comments Most recent by ckeen_1244 June 14, 2019 8:18PM
  • Hi there. I have receipt for parts purchased that have been returned. How do I input them to the system? It says total must be larger than taxes when inputed in the the form.
    jonnymechanic 10 views 3 comments Most recent by ckeen_1244 June 14, 2019 7:57PM
  • Hi guys, I'd like to put cash purchases through my accounts without uploading a receipt, how would one do this? Thank you.
    ArtisanCrafts 7 views 5 comments Most recent by Mike_85 June 14, 2019 6:44PM
  • As 25th May looms closer, I need to get my GDPR information into line. Does anyone know how Wave is dating with GDPR? As you may know, if you deal with any personal data concerning someone in the EU (customer, supplier or anyone), GDPR applies. Breaches of GDPR mean a fine of 4% of your global turnover for the first offence, where you are ba…
    Innopsis 931 views 31 comments Most recent by MikeEsholt June 14, 2019 10:00AM
  • 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 3.3K views 56 comments Most recent by ckeen_1244 June 13, 2019 8:47PM
  • Hi, I do a significant number of purchases online using paypal as my payment method. Typically I receive an email receipt, however it is in the body of the email and not as an attachment. Any solution or workaround here for sending it on to [email protected]? Thanks James
    jamesdawsondesign 17 views 0 comments Started by jamesdawsondesign June 12, 2019 9:15AM
  • This discussion was created from comments split from: Making Tax Digital (MTD): Digital record-keeping and filing in the UK.
    System 7 views 4 comments Most recent by JordanFromWave June 11, 2019 8:00PM
  • Hi I have a 2 part question, 1. Since Wave accounting does not close accounts, and use accounts like income summary, how do we properly update Owners Equity? Without making the December Profit and Loss account wrong, which happens if you use closing accounts? 2. A separate issue, how do we categorizes Interest Expense? Since it is not an operat…
    ddme 21 views 3 comments Most recent by Kimpton June 11, 2019 7:22PM
  • Hi there, where can I find information about term deposits accounting? Do I need to create a new account in Charts of Accounts? Will I need to do a journal entry for the interest? How will I need to categorise it once the expense is imported from my current bank account transactions? Thank you
    Joya 8 views 0 comments Started by Joya June 11, 2019 4:19AM
  • Wave is an excellent software package for the self employed (proprietor) entrepreneur. It easily keeps track of billings, collections and disbursements. It allows the entrepreneur to see his or her income at a glance. The income of a proprietor is revenue less expenses. There is no T4s issued for a proprietor - although a proprietor can have em…
    Bruce_C49 38 views 1 comment Most recent by ddme June 11, 2019 1:14AM
  • I need to submit my business return to CRA and because my first year was very simple (zero revenue, very few expenses), I don't want to use my accountant for this (I have another business that is much more complicated and he and my bookkeeper use Quickbooks to manage bookkeeping and accounting for that). From what I can tell, Wave doesn't have …
    Mikebrcic 49 views 5 comments Most recent by greenwave June 8, 2019 3:16PM
  • My apologies if this has been answered before. I searched, but could not find a discussion on this. To manage payments made on a website through credit cards, I have added a payment gateway (account) as a Cash & Bank account. I now: * Record a payment against an invoice as paid by credit card into the payment gateway account * Pass an…
    MohanVeme 4K views 39 comments Most recent by jgitta June 7, 2019 4:55AM
  • I am looking for some best practice advice wrt merging transactions. I have the same dolar value transaction shown from my connected bank account and also shown as a receipt from Wave. Do I merge these?
    jamesdawsondesign 13 views 1 comment Most recent by Barsin June 6, 2019 6:01PM
  • I have photographed all my receipts on my phone and can not access them to match my expenses, they are only accessible on my business tab, but I am using them for my personal, there is no place in setting to place these receipts in the right area. Personal and business do not seem to work together at all. Also my accounts are the same I have to d…
    Margot 8 views 1 comment Most recent by Zoe_caff June 6, 2019 6:01PM
  • I have a question hope wave's admin can help. How do I save the previous year and start with a new financial year on wave?
    Fazel 10 views 1 comment Most recent by MerlinAccounts_UK June 6, 2019 12:19PM
  • Has anyone gone through the steps of backing their old quickbooks file into Wave. This includes invoices, estimates, item list, and customers list ?
    rboussatta 1.1K views 7 comments Most recent by MarkWavePlus June 5, 2019 8:29PM
  • Hi All, My partner is a sole trader (UK) and I am helping her with wave - she is a freelance artist. There aren't a lot of transactions yet but most of the purchases that she's made through her business account are for paint/brushes etc - I've been marking these down under the "Office Supplies" Expense Category. Is this correct?
    beanhammer 30 views 1 comment Most recent by JamieD June 5, 2019 3:22PM
  • I have a dropshipping business and need to record the purchases I make, I don't hold inventory. Just confused where to do this as if I click on Chart of Account / Expenses - I can see Cost of Goods, but there is no selection for this when trying to allocate transactions. I assume I'm missing something simple but would appreciate assistance.
    clucker 14 views 1 comment Most recent by Mikeg June 5, 2019 11:25AM
  • Hi guys! Does anyone know an Estonian accountant using WaveApp? Thanks for the recommendations.
    SaraG 10 views 0 comments Started by SaraG June 5, 2019 10:56AM
  • Hello, everyone. I'm new here and having a hard time understanding how to use this site. I linked my bank account, which worked out fine. However, once I integrated my Etsy account, all of my Etsy payments are showing up twice in my Transactions. They are coming in as individual sales through Etsy, but I've already had the money deposited into my …
    kawaiikloth 52 views 7 comments Most recent by ClaireWryghtAccounts June 5, 2019 5:31AM
  • So paypal seems a no go to use with wave via sync. So I currently upload statements. I have my bank account as funding source for paypal. Using eBay they took 0.83p out via paypal using direct debit so straight out of my bank account. Wave records in accounting 1) DIRECT DEBIT PAYMENT TO PAYPAL PAYMENT REF (bla bla bal) MANDATE NO 0002 …
    snappyfish 13 views 3 comments Most recent by alexlewiszarkos June 4, 2019 7:35PM