Accounting

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  • dondon
    Hi, I'm just trying out Wave to manage my small home-based business expenses. I'm really only using it (so far) to manage my expenses and keep track of receipts. I'm wondering, how easy is to go back and look up/search and view a receipt a receipt that I entered in the past. I know I can run a report to tally the total for that expense category…
    don 157 views 7 comments Most recent by ReportingIn November 11, 2018 9:01PM
  • I found wave because I was looking for the ability to send an invoice to a client after my computer died. I do freelance work for a few people who do town planning and environmental assessment. My job is to submit applications to local authorities, and then do follow ups as per the status of such applications. I also do a lot of collections/…
    Montague 72 views 9 comments Most recent by Erik November 9, 2018 5:35PM
  • Hi All, Our business is a partnership LLC. The partners receive distributions directly from one of the companies checking accounts each month. I am trying to get help on how to classify those distributions so they still count towards our net profit as were taxed by passthrough. Right now I have them all classified as a special line item until I…
    pmcintosh26 26 views 1 comment Most recent by Erik November 9, 2018 3:40PM
  • This discussion was created from comments split from: Which Invoice Template is right for you?.
    System 31 views 3 comments Most recent by NWTC November 9, 2018 9:23AM
  • Hi there, I'm still learning to use the software and accounting terminology... Please could someone tell me how to upload a receipt for "materials" purchased to do a project? and also how to allocate that expense to a client invoice number? Thank you in advance, Kind regards Ty
    Ty_7140 11 views 3 comments Most recent by ArthurMak November 8, 2018 8:22AM
  • Hi, I'm new to Wave and was wondering if there is a way to split an expense into 2 or more different categories?
    Maggied 22 views 2 comments Most recent by Maggied November 8, 2018 8:20AM
  • I'm helping a friend manage the finances of her MLM business. The MLM company collects the sales tax from the independent consultants. So when the consultant purchases inventory, it includes Sales Tax. When I enter a Bill for inventory purchase, I add the appropriate tax. However, when I run the Balance Sheet, the Inventory balance now include…
    rmbk 11 views 1 comment Most recent by Tyler November 8, 2018 12:48AM
  • Hi, my name is Sarah baird, I have just started using Wave this past week. It has been great. I got stuck with adding Account Opening Balances, and have now just worked that out. But as we are a new Business and only in our second year, our first year ran at a loss e.g Our Purchases and Expenses were more than our Sales/Income. So we have a Lo…
    sarahjane_3 65 views 5 comments Most recent by apples November 7, 2018 3:36PM
  • Hi, I thought when goods are purchased, the money converted from bank to the inventory account. When goods are sold, the inventory value goes down and COGS value goes up. However it seems for the bills created in wave, when the bill been paid, the whole value has been transfered into the COGS account right away, not sit in inventory accou…
    Morayfield 22 views 1 comment Most recent by Morayfield November 7, 2018 12:17PM
  • As you can see in the snapshot, there's a lot of rolling reserve been released transactions imported from PayPal. PayPal will hold a portion of the money you received as a reserve, for a certain time. They release it when time goes by. Those transactions will not appear in PayPal account activity. But Wave will import those. I guess I'l…
    Morayfield 12 views 1 comment Most recent by Morayfield November 7, 2018 12:17PM
  • How do I enter expenses without copying a receipt ??- for example: payed for items on a different credit card
    bjristow 12 views 2 comments Most recent by bjristow November 5, 2018 10:34PM
  • I need to allocate expenses from a personal bank account to a loan account in the business account? I have scanned the receipt and need can attach it but there seems to be no automated way to achieve this transfer.
    graeort 13 views 1 comment Most recent by JamieD November 5, 2018 7:51PM
  • When viewing a transaction and expanding to where you can add a note there’s a field selection option regarding tax. Is this for matching the tax charged on the transaction/receipt? What is the purpose of doing so? Is it mandatory? What are the pros and cons of doing vs not doing? Will it remember that you've done so or will you have to do it repe…
    clancularius 1 view 1 comment Most recent by JamieD November 5, 2018 7:43PM
  • Hello, I have a client who has entered a number of sales invoice payments to cash rather than bank. My question is, is there an easy way to bulk change these?
    JudeRose 55 views 3 comments Most recent by JudeRose November 5, 2018 7:28PM
  • I have data of receipts of 1 year from another accounting system in csv and pictures and would like to import it into wave. What is the best way to do this?
    valeriukks 23 views 7 comments Most recent by JamieD November 5, 2018 5:10PM
  • Once I read the epic wave guide here it mentioned this feature. http://thesmartkeep.com/blog/epic-wave-accounting-guide However it seems wave will just create an extra transaction in the account, waiting for the user to manually merge it, not automatically merge, not auto matching, not let the user pick one transaction from the bank feed.
    Morayfield 13 views 1 comment Most recent by RRTS November 5, 2018 3:54PM
  • What are the advantages of using the receipts app? How does it impact receipts in general?
    clancularius 11 views 4 comments Most recent by Morayfield November 5, 2018 1:19PM
  • Hello, I have entered many receipts into the system, and need to edit several that are in the "done" category. Is there a way to do this without deleting the file and redoing it? Thanks
    davjoin 23 views 1 comment Most recent by Morayfield November 5, 2018 12:38PM
  • Does the Sole/Partnership vary from a Limited Liability Company when using the accounting software? if so, How to change "Type of Organization" in the Business Settings from Sole/Partnership into a Limited Liability Company? Thank you in advance to anyone who would respond to this query.
    FD Assistant3 126 views 2 comments Most recent by HOSPM November 4, 2018 10:57PM
  • Hi, I'm new to Wave and I have a question about VAT. I do a lot of pop up shops and use card readers like iZettle. Obviously iZettle take their commission and then deposit the money into my account. (e.g. 44p on £25) Wave sees that £24.56 has gone into my account and calculates 20% VAT on that figure, not £25. Meaning that every VAT calculation co…
    Barney1 23 views 5 comments Most recent by Barney1 November 3, 2018 12:32PM
  • I'm very new to Wave and just issued my first refund using Wave. I have refunded $100 out of $250 back to a student. Their invoice originally said 0.00 due after they paid the 250. Now after the $100 refund it says $100 is due. I'm confused...
    marpie76 390 views 9 comments Most recent by Charlotte November 2, 2018 11:45PM
  • TGWTGW
    The update appears to have removed all the inputed sales tax from my reports. I understand I need to create a new sales tax and switch these over. This is a lot of work! Is there a way to do this as a batch rather than one by one? How then do I delete the old sales tax?
    TGW 1 view 3 comments Most recent by Samd November 2, 2018 7:27PM
  • Hello, Under the Reports->Sales Tax Report, I can see the VAT amount I should pay for all the invoices generated including the ones the payments are outstanding as of that date which I don't think is correct. Technically I should see a report with the ones I have received the payment and I have made the payment. Please share your thoughts or…
    Elangk 326 views 6 comments Most recent by Samd November 2, 2018 7:19PM
  • Hi- New art business. ( just graduated from hobby status-Yay!). Entered a local art show, with rules stating the art center would take a 40% commission on any/all sales. I sold two pieces. I received a check for 60% of the sale price. Do I just call the 60% net the sale price (easier, yes)? However, I would like to enter the original sale price a…
    Jed_Sutter 67 views 9 comments Most recent by Samd November 2, 2018 6:06PM
  • I've scoured the web looking for any documentation on setting up Wave for an ecommerce site, and have come up empty. Is there any documentation that Wave provides as a guide to setting up accounting for online product sales?
    bocachicabaits 100 views 1 comment Most recent by Samd November 2, 2018 3:54PM
  • Does anyone know how to post in wave so that the tax calculates correctly?
    JonasB 11 views 1 comment Most recent by Charlotte November 2, 2018 2:19PM
  • Is there a way to write a proposal for work to be perform ? Thanks In advance.
    Acguys 79 views 1 comment Most recent by Charlotte November 2, 2018 2:16PM
  • I have entered the ending balance amount incorrectly. Is there a way to change it? My apologies for entering this twice. Just getting started. Not sure exactly where I put my other one. Admin please delete the other one.
    Johangn 22 views 2 comments Most recent by Johangn November 2, 2018 12:10PM
  • AC1AC1
    Hi, I am trying to pay dividends but I am a little confused the the various accounts to be created. First, I read somewhere stated to create "Dividends Payable" in Due to You and Other Business Owners. Is it required to create "Dividends Paid" in Retained Earnings? What are the transactions to be posted? Thanks!
    AC1 157 views 3 comments Most recent by Everesttaxandfinance November 2, 2018 2:34AM
  • Hi there, I am looking to add food expenses to an invoice and I am currently adding it as a line item under sales (i indicate this in the name of item description) Is there another way to do this? If so how?
    KristaNicole 11 views 1 comment Most recent by Charlotte November 2, 2018 12:31AM