Accounting

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  • 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 31 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 24 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 wave…
    jwalter007 441 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 c…
    Konrad 33 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 already …
    ReBroker88 17 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 21 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 d…
    cyphix333 183 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 same amou…
    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 20 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 import…
    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
  • 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 48 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 13 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 i…
    lariosmotors 484 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 the…
    captbrando 18 views 2 comments Most recent by captbrando January 31, 2019 8:23PM
  • 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 23 views 3 comments Most recent by JamieD January 30, 2019 11:22PM
  • Hello I am not finding any options to transfer from personal to business. Please help me out.
    Dipanshu Tyagi 16 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 29 views 1 comment Most recent by JamieD January 29, 2019 10:53PM
  • Hi there! I can't reconcile my statements. All the transactions are in there and correct, however it is not showing in "verified balance" even though they are verified. I saw previous posts about changing time zone. I have done that, changed to EST. Not sure how to fix this. Extremely frustrating and time consuming. !
    OneClub 38 views 6 comments Most recent by JamieD January 29, 2019 10:12PM
  • I get invoiced by a third party trainer who does work for me, can i upload the invoice they send me (pdf) as a bill? I have been trying to see if this is possible but cannot see how to do it. Appreciate any guidance Echeb
    Echeb 16 views 2 comments Most recent by Charlotte January 29, 2019 9:37PM
  • Is there any way of getting a spreadsheet of the bank data and corresponding account assignment? This would be all the data that I entered into the system. Do i own this data? I find it would be easier to work with this data in a spreadsheet because of the latency (time delay) that occurs when working with in my browser internet service. I ha…
    cybered 5 views 0 comments Started by cybered January 29, 2019 9:30PM
  • Show the Account Hierarchy in the Chart of Accounts. For example an expense can be COGS or Expense, however this can't be determined without tracking where transactions end up on a report
    DMAjic 20 views 4 comments Most recent by DMAjic January 29, 2019 7:27PM
  • Product Development is in the expense category, but shows up under Cost of Goods Sold on the income statement. Can this be changed?
    DMAjic 14 views 4 comments Most recent by DMAjic January 29, 2019 7:27PM
  • My credit card account shows my balance as a positive and not a negative. Meaning the amount we owe on the card is showing as a positive balance in wave. So it looks like I have overpaid or something. How do I change this? What do I need to do for it to be accurate?
    Kerissa 25 views 3 comments Most recent by ayam January 29, 2019 6:47PM
  • Dear All Need assistance. At the navigation Chart of Accounts, i do create several'Income' ie 7 line. Unfortunately, 'Income' line only show 4 line item only. Please assist. Thanks & regards
    shah6870 3 views 0 comments Started by shah6870 January 29, 2019 8:17AM
  • Hello How can I debit a cash withdrawal against income? Essentially, some of cash I deposit isn't sales. I own a laundromat and customers use my quarter changer machines. Sometimes they take those quarters home. I take the cash from those changers and deposit the cash. However, I need to buy quarters to replenish the machines. I do not wan…
    zkaufman 7 views 1 comment Most recent by JamieD January 28, 2019 11:38PM
  • I've got a transfer from one account to another. When I imported my data, both sides were created, one transaction in account A and one transaction in account B. When I went to categorize them, I categorized one as a Transfer, and Wave automatically created another transfer transaction in that account. Now I can't merge the original transfer with …
    JoeBush 52 views 1 comment Most recent by JamieD January 28, 2019 11:12PM
  • Hello Everyone, I'm new to Wave and I have the following scenario that I need to handle: I'm self employed freelance consultant and I invoice my customers based on the consulting hours provided and expenses incurred for travel, hotel stays, metro tickets, etc. Since I invoice my customers the expenses incurred, I need to: 1) Declare the billab…
    Semmler 107 views 4 comments Most recent by JamieD January 28, 2019 10:58PM
  • My bank is GBP but the report transactions are in euros. How do I change this?
    dank007 13 views 1 comment Most recent by JamieD January 28, 2019 9:24PM
  • Hello All, I operate my LLC as a sole proprietorship. I have some expenses that have occured over the past year that were paid for using my personal credit card. I'm not currently pulling any equity out of the business accounts, so I don't actually want to reimburse these expenses, but rather treat them as additional investment into the busines…
    embersmithllc 19 views 3 comments Most recent by Mikeg January 28, 2019 1:00PM