Accounting

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  • Hello! So I've been using my accounts as personal/business but I'm going to set up a full business account so I don't have this mess. Anyway, I'm wondering what I should be putting personal/family payments through as? For example me sending my wife some cash for shopping etc. I'm going to go back over all of those transactions to correct them b…
    ryanjohnstonco 17 views 2 comments Most recent by Sophia February 12, 2019 2:14PM
  • The Balance display in Transactions is not updating on transaction entry. The Balance Sheet similarly is not updating whilst the added transaction is there in the detail. The situation corrects itself in time but it is very poor in the mean time. I have also found that receipts duly processed are sometimes taking a long time to appear in the tr…
    Mike_C1 40 views 8 comments Most recent by Katie_Silkina February 12, 2019 2:13PM
  • Hi, I and a bank error that appeared on my bank transaction. For example, I deposited $100 of checks, but it made an error and made $1000 deposit. The difference, $900, later came out of my bank account. How should I categorize this $900? Thanks
    rbtjd 18 views 1 comment Most recent by Katie_Silkina February 12, 2019 2:09PM
  • Hi guys, I'm new to WAVEAPPS and have alot of things to ask particularly on the categorizing all the debit and credit / inflow and outflow. The business have the norm activities like : * rental * utilities * loan repayment * invoicing as far as i know, points 1-3 are the debit and 4 is the credit. but how do i categorize these thin…
    whynot_wedding 22 views 1 comment Most recent by Sophia February 12, 2019 2:06PM
  • Hi Transactions that are automatically created in the Wave system can't be edited or deleted is a notification I get on a few invoices. I need to edit this as the bank account it is automatically going to is 'cash on hand' however, the rest of my accounting does not go to this... I have no idea how the transactions were automatically crea…
    customlogoshop 81 views 7 comments Most recent by elisemartinson February 11, 2019 11:23PM
  • I'm wondering if anyone else has noticed that some old merged transactions no longer have receipts attached to them? Prior to the UI update, all my old transactions were a merged pair of transactions and I could find the receipt associated with each bank transaction. Very handy. Now, when I look back to transactions older than about 3 months …
    msheldon 19 views 5 comments Most recent by bonnyd February 11, 2019 9:56PM
  • Hi, I have a small business that I dont think warrants a bookkeeper so I am using Wave (which I absolutely love). Problem I am finding is that once a client pays and I record the invoice as being paid it updates to Transactions under Accounting but also when my bank transactions update they also have that same transaction so now it seems like my…
    Thembisa 15 views 1 comment Most recent by Ryan_W February 11, 2019 9:46PM
  • Apparently even though ID numbers are assigned to accounts, Wave lists the chart of accounts in alphabetical order. Is there an option one can choose from? Where do I find it?
    ABMoore 16 views 1 comment Most recent by Ryan_W February 11, 2019 7:09PM
  • Hello Everyone! Long-time Wave user, first time reaching out to the community. I'm looking for suggestions on how to best journalize entries for guaranteed payments to members of an LLC (US). If anyone has any suggestions, I'd greatly appreciate it.
    CCJMc 56 views 4 comments Most recent by Mikeg February 11, 2019 7:01PM
  • Hi, Is there a way I can see the details of the transactions which impact the "Unrealized Gain on Foreign Exchange" account. I see that account in my P&L and would like to see which transactions affected that account and how much. However, I don't seem to be able to click on the line in the P&L (like I can do with other accounts). Than…
    CelWave 23 views 1 comment Most recent by Ryan_W February 11, 2019 6:59PM
  • My state offers a (small) discount on your Sales Tax if you pay early. Therefore, we need the ability to adjust the auto-built Sales Tax liability amount on a quarterly basis. Otherwise, we have to create separate Journal transactions for this. Thank you!
    TechConnect_JC 14 views 1 comment Most recent by Ryan_W February 11, 2019 6:46PM
  • Hi, I cannot find an option to export invoices with invoice numbers and date, customer, product and value to a csv file. Is this possible? Thanks
    Alijc 68 views 5 comments Most recent by kate_ervin February 10, 2019 3:40PM
  • My Sales Tax Report shows what I owe on my monthly sales tax liability. How do i show i paid my sales tax now. There is no expense line item for sales tax. I just want to be able to see my tax liability less what i paid.
    Songahm 36 views 2 comments Most recent by Songahm February 9, 2019 9:32PM
  • 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 31 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 18 views 1 comment Most recent by Mikeg February 8, 2019 11:49AM
  • 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 28 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 6 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 58 views 4 comments Most recent by Annette17 February 8, 2019 12:36AM
  • Is it possible to restore the previous version of Wave?
    Mike66 16 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 29 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 23 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 339 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 32 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 16 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 20 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 155 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 19 views 2 comments Most recent by JaeCNST February 4, 2019 9:46PM