Accounting

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  • GMTGMT
    A client underpaid one invoice, but then he paid extra on next invoice The amount he paid extra not only covers the balance from first invoice, but also it covers a pre-payment for his next order. How to transfer the extra amount from second invoice to first, and remove the PAST DUE mark from the first one? Where/What category to enter the extr…
    GMT 15 views 2 comments Most recent by GMT February 9, 2019 12:24AM
  • ccjccj
    I am running the Sales Tax Report, to complete my (Canadian) 2018 HST filing. This report shows my HST account, with expected numbers under "Sales Subject to Tax" and "Tax Amount on Sales". However, the "Purchases Subject to Tax" and "Tax Amount on Purchases" are nil. If I click on the "HST" link in this report, the resulting transaction l…
    ccj 24 views 1 comment Most recent by ccj February 8, 2019 2:20PM
  • How do you record the purchase of assets? The items you add only allows for expense accounts.
    RikaSF 14 views 1 comment Most recent by Mikeg February 8, 2019 11:49AM
  • 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 42 views 5 comments Most recent by MooksGoo February 8, 2019 10:50AM
  • Every time I want to have a look at the Income Statement for the tax year I am working on, I have to manually set the dates for the report to generate. Is there a way to save a report under a custom name so that I don't have to manually 'create' a report?
    Rusticus du Preez 19 views 2 comments Most recent by Rusticus du Preez February 8, 2019 10:18AM
  • I needed to buy a new laptop and have access to a site that allows me to purchase vouchers that give more value than they cost. I paid just over £500 for £550 worth of vouchers. I then used these vouchers to buy the new laptop (with a little bit of money remaining on the voucher that I can use in future). How can I account for this in Wave? Any…
    dannyk 4 views 1 comment Most recent by wagzz February 8, 2019 7:25AM
  • Hi, I have an invoice which I will be paying by 4 instalments. As a result I will have one scanned document (the invoice) and 4 bank transactions. How do I manage this in transactions? I cannot “merge” them, and it is essentially the opposite of “splitting”. Thanks.
    Ubergeeksov 5 views 1 comment Most recent by wagzz February 8, 2019 7:10AM
  • Would Business Personal Property Tax be an Operating expense or Liability? For sales tax paid for items resold that we collected the state tax on how / where is it recorded. Texas doesn't send us an invoice, we just calculated it based on our sales. Thanks !
    Annette17 36 views 4 comments Most recent by Annette17 February 8, 2019 12:36AM
  • Is it possible to restore the previous version of Wave?
    Mike66 15 views 1 comment Most recent by Samd February 7, 2019 4:33PM
  • I am trying to figure out which account category to use for the opening balances of my personal credit card and bank accounts. Owner Investment/Drawings doesn't seem right because the money did not come from my business; they are just previous balances on my personal accounts. Should I use Personal Net Worth? Or make a new income or equity account…
    erinmichael 25 views 0 comments Started by erinmichael February 7, 2019 1:09AM
  • With the Wave reconciliations feature, the date must match the date of the bank statement. But we'd like to post when the check was written rather than just when it cleared. Is there a way around this?
    jlynnko 21 views 2 comments Most recent by jlynnko February 6, 2019 11:25PM
  • Im trying to start fresh with my accounting for 2019. I've been using another software product and its all jacked up so I want a fresh start. I started importing all of my CC and bank accounts going back to 1/1 however, I must not have set that import date on my main bank and now it goes back 90 days. I think I read that the latest version of wav…
    jwalter007 157 views 3 comments Most recent by jwalter007 February 6, 2019 6:53PM
  • I recently started using Wave and I'm testing it's features. So far I like it. But I cannot understand a few things, one of them why are invoice payments recorded as "debits" some times, and as "credits" other times, and why they subtract money from my account balance? My case: I issued an invoice to customer using Wave, the customer paid by a …
    Konrad 31 views 1 comment Most recent by Samd February 6, 2019 2:54PM
  • I'm completely new to book-keeping so thank you in advance and sorry if these are stupid questions- 1) If I paid for advertising for my company, and someone paid me for their portion, which I had already paid for, how would you show that? 2) If I receive payment for a project, that's split 50/50 how would I show that in accounting? I've alre…
    ReBroker88 15 views 1 comment Most recent by Mikeg February 6, 2019 4:08AM
  • In the P&L report under sales line, which represents the total revenue my company generated has a wide discrepancy against income collected. I've accounted for slight variance due to credits/refunds, however, this doesn't explain why there can be such a huge difference. I'm off by about $20k.
    ctdook 16 views 6 comments Most recent by Mikeg February 5, 2019 1:48PM
  • Hey guys, recently started using Wave and I have been looking through the "Chart of Accounts" section and since I recently received a deposit from a client it sounded like it belonged in the "Customer Prepayments and Customer Credits" section within "Liabilities & Credit Cards"; however when I go to add Income I don't see this as a category (I…
    cyphix333 122 views 9 comments Most recent by glargo February 4, 2019 10:47PM
  • Hello. I have a bill that I entered which has line items for the products/services that I purchased from a supplier. I ended up paying that bill with a credit card. Wave has downloaded the transaction along with the other CC transactions. I went into the bill and marked it paid using that credit card. Now I have to transactions for the sam…
    jwalter007 14 views 1 comment Most recent by Ryan_W February 4, 2019 10:21PM
  • How do I account for a business loan that was already used for a previous year's expense? I have not started to pay it off yet. I. I want to show the outstanding loan amount as a liability on reports each month until it is paid off.
    JaeCNST 17 views 2 comments Most recent by JaeCNST February 4, 2019 9:46PM
  • I have my biz CC and my biz bank account connected to Wave. When I make a purchase using the CC the individual purchases are automatically imported where I can adjust and verify them. Then I pay the CC from my bank account. This is automatically imported as an expense. It's not really an expense, though, as the expense was recorded when I impor…
    PDA1964 30 views 4 comments Most recent by jwalter007 February 4, 2019 1:55PM
  • Hi There. I'm new to doing my own accounting and I need some direction. I automatically set my bank statements and my credit card statements to import into waveapps and it worked great. I had to manually enter older statements which I already did but I'm having one issue. I don't know how/what to classify my AX payments from my bank account. …
    Bicoastal 54 views 4 comments Most recent by JamieD February 1, 2019 8:04PM
  • Hello! I like sending out invoices from Gmail, but would like it even more if there was a way to change the default subject line and email body text. Is there a way to do this? Even better if there was a way to change the text using some of the info from the invoice itself (like the info below the word "Invoice" where I put the project name for…
    thejohnmwhite 97 views 6 comments Most recent by JamieD February 1, 2019 6:41PM
  • I want to import my clients to mailchimp and also need to download all the data I can for my CPA but I see only the option to print invoices and such. This means I pay the CPA more money or I spend the time formatting that to an excel. Is there a way to export in a new file format? Thank you!
    elizabeth51 37 views 4 comments Most recent by MerlinAccounts_UK February 1, 2019 6:26PM
  • Hi, simple question. Can we customize Statement templates / layouts? (for e.g. I'd like to add banking details). Kind Regards D
    dve83 12 views 5 comments Most recent by JamieD February 1, 2019 4:18PM
  • How do you keep track of inventory in this app? If i make a sale and I create an invoice for example. The transaction is generated as cash on hand and sales (I assume as i can't see a full journal entry just the main description). So, Do i need to create a manual journal entry with merchandise inventory or cost of goods sold to keep track of the …
    lariosmotors 123 views 2 comments Most recent by JamieD January 31, 2019 9:56PM
  • Folks: I have an asset-based business where I own an asset that is rented out and I receive a settlement statement each month from the management company. I record this through a journal entry to record each month's performance. I've connected my bank accounts, and I end up with all these duplicate entries. As an example, I record an entry on t…
    captbrando 18 views 2 comments Most recent by captbrando January 31, 2019 8:23PM
  • How do I put a negative amount into an invoice to represent a refund.
    Charlie05 1K views 20 comments Most recent by JamieD January 31, 2019 5:46PM
  • I need to download information for the CPA and I can't find a way to download in a format they can use? I'd also like to download all my email contacts into a file I can import into mailchimp for mass marketing to clients? Thanks for the help!
    elizabeth51 19 views 3 comments Most recent by JamieD January 30, 2019 11:22PM
  • 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 35 views 4 comments Most recent by Mikebrcic January 30, 2019 11:48AM
  • Hello I am not finding any options to transfer from personal to business. Please help me out.
    Dipanshu Tyagi 13 views 4 comments Most recent by JamieD January 29, 2019 11:18PM
  • Hello Wave Team, Wave has been a great application and we have been using it at our company for the last 4 years. We find it awesome and it manages all our accounting. We have a small suggestion to put forward. We deal with a lot of recurring bills every month including salaries, utility bills and other service bills which are mostly the sa…
    Zahir 27 views 1 comment Most recent by JamieD January 29, 2019 10:53PM