Accounting

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  • I can't seem to debit retained earnings directly. I want to account for profit distributions to partners. I can record this as an owner's draw, but then I get a permanent line on the balance sheet showing all the money that has been distributed doing back forever. Is there a way to debit retained earnings directly? Thanks!
    cdavenport22 117 views 3 comments Most recent by KelseyRodricks January 17, 2019 11:43PM
  • So how do i go about entering what my beginning balnce was on Jan1/19 when i was in the overdraft? what is the exact proceedure because it will not let me save it. i am assuming i have the wrong accounts chosen, i havent imported my bank yet or hooked it up, as i wanted to set these beginning balances first then import the transactions, do i hav…
    msyniuk 38 views 1 comment Most recent by MarcosMoitas January 17, 2019 11:38PM
  • Hi. What is the difference between receipts and bills? For example, I purchase a counter to use for my business I bought a kleenex from supplier to resell it. Where do I upload the counter receipt? and where do I upload the kleenex receipt? And how can I print report for expense and amortisation for my accounting without printing the k…
    l4cky 193 views 1 comment Most recent by Laura_Kavanagh January 17, 2019 11:30PM
  • Hello Wave Community! I'm approaching my first full year of using Wave Accounting and wanted to know if I Wave automatically does all the necessary account reconciliation at the end of the financial year (e.g. clearing the Owner's Drawings account). Or am I wrong and have to actually do all these manually at the end of each financial year?! …
    waver 44 views 2 comments Most recent by Kirk January 17, 2019 11:26PM
  • If a supplier offers an early settlement discount, how do I capture this? For example my bill is for 100 and I pay early (97.50). The bill shows 2.50 as outstanding and I need to capture this as a settlement discount
    Andrew_Hoek1 16 views 1 comment Most recent by MitchellGillespie January 17, 2019 11:20PM
  • Hi there, I'm new to Wave and I decided to give it a try after setting up my travel blog/YouTube channel. I have not registered it as a business in real life, BUT I wanted to separate my personal spending to truly see if I was making money with it. I have a lot of up front costs (e.g. camera gear, airplane tickets, etc.). I am funding this from my…
    bradleyw777 37 views 1 comment Most recent by Kirk January 17, 2019 11:19PM
  • Hey all, I'm Kasun from Sri Lanka & searching for an accounting solution to a charitable institution from Wave. There I have an issue with the standard names given on wave, Income, expenses, net profit etc. that does not match for a charitable institution. Is there any possibility to change those wordings on Wave flatform?
    Kasun 26 views 1 comment Most recent by GraceM January 17, 2019 11:00PM
  • New user, is there a way to set up personal Bills?
    mnaples716 23 views 1 comment Most recent by SammyH January 17, 2019 10:55PM
  • Hello I am having a problem with Wave at the moment. If I do work ( I am a HVAC contractor) and do multiple jobs for the same person/corporation at different locations, I cannot keep them separate. I can keep the "bill to" the same but ever time I change the "ship to", it changes every old receipt in the system on the cloud. So the old Ship …
    Greg04 24 views 5 comments Most recent by Emmanuel January 17, 2019 10:30PM
  • Can anyone tell me how to print out my P&L reports? If I try and print page using google it only prints the top of the page! Thanks.
    Orange_Tree 33 views 1 comment Most recent by Orange_Tree January 17, 2019 3:09PM
  • How do i record or categorize dividends?
    accentnchaos 396 views 2 comments Most recent by Ecoglitter January 16, 2019 12:22AM
  • I accidentally deleted some invoices and i want to restore them , how
    raul 973 views 5 comments Most recent by garzapt January 15, 2019 6:05PM
  • I am not understanding when I try to post a receipt why it asks me to pick cash on hand or owner investments. My receipt is just a receipt I would like to post under supplies. Also why can't I see the receipts under their appointed categories after I post them. I really don't want all the receipts for three businesses mixed all together.
    L3sorensen 18 views 0 comments Started by L3sorensen January 14, 2019 11:47PM
  • im new to wave can you delete an account that you added by mistake?
    justnewtothis 15 views 1 comment Most recent by Rents January 13, 2019 2:36PM
  • Hello, I'm new to Wave and so far absolutely love it! However, using it in the manufacturing industry we use rather large quantities on invoices. So far I have not figured out a way to add separator for 1000. Appreciate your help and pointers where to either set this up or how to work around it. Stefan
    acont99 19 views 1 comment Most recent by Erik January 11, 2019 9:53PM
  • Hi I have used the workaround to show cash based accounts by going to reports > cash flow then selecting cash only. Comparing this to the profilt/loss statement, the cash based report has a higher income total and I don't understand why. Can anyone help please? Thanks
    customlogoshop 15 views 0 comments Started by customlogoshop January 11, 2019 9:06PM
  • Hi I accidently withdrew £500 from my business bank account for personal use. On the same day I paid it back to my business account from my personal. I was wondering what I should categorise this as? Thanks!
    customlogoshop 19 views 0 comments Started by customlogoshop January 11, 2019 8:49PM
  • Hi, I am trying to manage both business and personal accounting in Wave. I am experience some issues. I wonder if there is a work-around. I use Wave to keep track on my Contractor works, and wants to use it also keep track on my personal mortgage. The main issue is how to keep track my home mortgage and other investment properties under P…
    xincom 570 views 13 comments Most recent by Erik January 11, 2019 8:23PM
  • I own some brand new items (clothes) that I originally bought for myself but never used. What's the proper accounting process to "sell" / transfer these items to my small business (sole proprietorship) as inventory? I have the original receipts. Am I right in thinking that I the business can just simply purchase them from myself at the or…
    waver 77 views 3 comments Most recent by Erik January 11, 2019 7:52PM
  • Hi My business account is connected to Wave and transactions are showing automatically. So far so good. :-) I withdrew an amount today as cash, as I had to pay a bill in cash. The balance on my bank account has been updated correctly, but the withdrawal isn't showing up in the transactions. Do I have to add it manually? Seems odd as my account…
    Aardvarks 249 views 5 comments Most recent by Erik January 11, 2019 7:35PM
  • So I paid some cash into business account today. How do I create a transfer withing wave now since update?
    snappyfish 13 views 3 comments Most recent by Erik January 11, 2019 7:01PM
  • Hi everyone, I'm just getting my feet wet with Wave. I love the UI and its simplicity (moving over from Quickbooks)! I had a few questions that I would appreciate your help with: * I'd like to know if there's a way to bulk categorize "Transfers". I'm transferring over deposits from my merchant account to Money In Transit and Wave is recog…
    ramzey_09 40 views 9 comments Most recent by ramzey_09 January 11, 2019 6:50PM
  • Hi guys, I am new to Wave and I am running an Etsy shop selling handcraft supplies. I don't print off shipping labels from Etsy directly and I am shipping products to customers through post office. I updated my receipt from post office today but I don't see a correct category for that. Should shipping fall into receipt? How do you guys…
    PhilLee 169 views 1 comment Most recent by Erik January 11, 2019 3:48PM
  • Hi I just want to understand whether to use single account to record my utility expenses and record multiple product and services under that or, have separate account for each different service, ex: say I have two different bills to pay, Electricity **and **Water, Should I have two separate expense accounts - Electricity, Water or should I…
    VinR 21 views 0 comments Started by VinR January 10, 2019 11:48PM
  • Hi, I have several bills showing as unpaid in Wave which are never going to be paid for various reasons: * one is an annual contract cancelled midway through the year * a few are billing errors * some come from rounding errors with foreign transactions My accountant is saying "we need to work out how to post the transactions to remo…
    jowettenterprises 4 views 0 comments Started by jowettenterprises January 10, 2019 11:21PM
  • In transactions. the categories are always wrong for me. I have to change every item to the correct category. This gets to be very tedious. why can't the category default to what the descriptions have been cataloged to in the past? example. home depot. lists it as automotive repairs. needs to be changed to job supplies. There shoul…
    jstump 19 views 1 comment Most recent by Erik January 10, 2019 9:04PM
  • Wave Accounting really does not have a way of accounting for these loans without using journal entries. As you know, PayPal transactions can be automatically downloaded into Wave Accounting. Wave Accounting wants to treat loans as liabilities (which they are). I treated these loans as Equity infusions to my business. These loans are only secure…
    Rob_the_Tea_Guy 58 views 1 comment Most recent by Erik January 10, 2019 4:53PM
  • Looking into using Wave. When I go into Transactions and filter, say for example, 10 expense items it displays the updated list. How do I print or export that filtered report?
    DV3D 17 views 3 comments Most recent by Erik January 10, 2019 4:10PM
  • Hi, I would like to know if I can get a vendors statement using Wave. Could you please help?
    GSERGIOU 3 views 1 comment Most recent by Ryan_W January 9, 2019 10:00PM
  • Hi, I have used the data export function and it exports everything I have loaded. If I only want to export a specific data set (like one month of transactions in particular), can I do that?
    Kilkea 5 views 0 comments Started by Kilkea January 9, 2019 9:26PM