Accounting

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  • we are a privately owned fishing camp with 9 members. We do not send invoices, have any inventory, need a record of either short or long term assets, or worry with depreciation or amortization etc. I do need to keep track of members dues or guests payments and what we spend on utilities or repairs. So I many of the default accounts just are un nec…
    lwebb 31 views 4 comments Most recent by JordanFromWave January 8, 2019 8:50PM
  • When I verify a receipt, it posts it to accounting, however there is nearly always another transaction there that has automatically imported from my bank account, is there any way to merge these? Otherwise I end up with two transactions with screws with my accounting My work around might just be to disconnect my credit card from Wave as then I'…
    JonGrilli 34 views 2 comments Most recent by JonGrilli January 8, 2019 9:43AM
  • I am new to Wave and, having outgrown the spreadsheet approach to managing two small businesses, I'm giving Wave a go. One of my businesses is a cottage rental, which involves an "account" with what is essentially a property and rental management company. I receive monthly statements, which (to simplify) include: * Any expenses incurred, tha…
    DaveB 25 views 2 comments Most recent by DaveB January 8, 2019 1:10AM
  • I have several transactions which are linked to the same Chart of Accounts category, but I need some way to allocate them to a subcategory. For example, I have transactions under a category called "Activities Income", and I need to specify further to which particular activity it is linked. I seem to be stuck on how to solve this: Option 1: Hi…
    SMCSG 141 views 8 comments Most recent by JordanFromWave January 7, 2019 11:06PM
  • I'm new to Wave and very frustrated. I can't get my credit cards to download (a whole other issue), so I made Journal Entries to reflect the charges for the month, with each charge on the statement as an expense to the right expense account. In the General Ledger, the entries show up exactly as entered, but when I run a P&L, some individual …
    sherricoffelt 15 views 0 comments Started by sherricoffelt January 7, 2019 9:47PM
  • I'm looking for some insight into the GAAP (Generally Accepted Accounting Principles) on how to draw inventory items from a sole proprietorship for personal use. For example, I bought a T-shirts through my business as inventory for $10. I later realize that I just want to use it myself. Do I just CR Inventory and DR Owner's Investment/Capital? …
    waver 20 views 2 comments Most recent by waver January 7, 2019 6:58PM
  • 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 4 views 0 comments Started by Kasun January 5, 2019 5:19PM
  • Hi... I am new to Wave. in my business, i was OLD SCHOOL and I use to put all my receipts in separate envelopes and log them in a journal weekly.. Then at the end of the year when i do my taxes, i add up all my receipts for the different categories and get totals for each. I joined wave a few days ago.. I downloaded many of my receipts and pic…
    Arly 35 views 1 comment Most recent by Charlotte January 4, 2019 3:04AM
  • I just finished inputting products into wave and now need to duplicate them into another business. Is there an easy way to do this?
    rmerali 21 views 0 comments Started by rmerali January 3, 2019 11:27PM
  • Hi everyone, I'm new here and I'm Actually quite confused about the difference between Bills and Receipts. I've paid for an online service but I'm not sure where should I record it. It's easier to be uploaded as a receipt but the problem is that Wave converts currencies automatically, which sometimes being inaccurate. Furthermore, in receipts, …
    abdulrahman 152 views 0 comments Started by abdulrahman January 3, 2019 9:33PM
  • I do the accounting for a Cub Scout Pack. I have money that comes in which is categorized as an income account. Then I create an expense account when money goes out. How do I tie the two together. For example, we have an event. I collect money for that event, that money goes into an income account. We pay the vendor for that event and when the…
    srbruyneel 15 views 0 comments Started by srbruyneel January 3, 2019 6:20PM
  • Hello, I'm putting aside a fixed amount of money each month for my small business to pay for a large expense at the beginning of each year. It remains on the current account, so at the moment it is considered in the profit&loss. My financial year ends 30/06/2018, but the expense will only be paid in Feb 2019. I would like to show that it is n…
    naylag 140 views 6 comments Most recent by Georgem January 3, 2019 12:45PM
  • Hello I am new to Wave and to accounting. Please pardon my ignorance if this is obvious or already answered previously. * I created an LLC in November (let's call it XYZ LLC). This is a single-member LLC. I set up a bank account for this LLC. * I transferred $500 from my personal checking account to the LLC checking account. I have two q…
    geebee 35 views 3 comments Most recent by Ryan_W January 2, 2019 4:16PM
  • Hello, I want to delete a "source record" for a transaction so that I can change the "category" for the transaction. Are there any repercussions to doing this?
    ovhenderson 13 views 1 comment Most recent by Ryan_W January 2, 2019 3:51PM
  • I want to file my receipts and inventory but there are only certain categories on the list to choose from. I have a construction business so I need a category that says Equipment. Can I creste a catagory?
    Arly 19 views 1 comment Most recent by Kimpton January 1, 2019 6:44PM
  • dear developer, how can i add opening balance in wave manually .. because i recently transfer from another software and i have all closing balace (balance Sheet) in pdf format but how can i add them in manaually.. and also suggest me that how can i maintain my inventory records in wave.. in case of share trading business... suggest me .. wave is…
    DineshSitapara 39 views 0 comments Started by DineshSitapara January 1, 2019 9:19AM
  • I'm attempting to follow the instructions laid out in this Help article: https://support.waveapps.com/hc/en-us/articles/208622606-How-to-import-past-transactions-from-your-bank-or-credit-card-account I've connected all the accounts I want to track, and downloaded all the transactions that my bank allows (all per step 1.). When I attempted ste…
    DaveB 15 views 0 comments Started by DaveB December 31, 2018 11:40PM
  • How would I go about adding construction tools and equipment to both the Property, Plant and Equipment section and how do I set up a depreciation and Amortization for this items?
    BHCNR 59 views 2 comments Most recent by Ryan_W December 31, 2018 9:21PM
  • Hi, this may be more of an accounting question, but previously I would enter checks as deposit transactions in an undeposited funds account, then enter one expense transaction named "transfer to general fund" for the total amount of the checks. When the deposit I made downloaded it would automatically match that undeposited funds expense transacti…
    NCCWarriorstreasury 34 views 1 comment Most recent by Ryan_W December 31, 2018 4:40PM
  • I want to include interest charges on overdue invoices when I send out customers statement of account. How do I do this?
    lindiricher 265 views 3 comments Most recent by Brit December 31, 2018 5:01AM
  • The only way that I have found to add a new account is to edit the name of an existing account. However, when you run the Income Statement, the accounts do not come up alphabetically. Is there a way to sort the accounts on the statements?
    lizann 15 views 1 comment Most recent by Erik December 28, 2018 8:46PM
  • I accidentally created the same customer twice (with variations in the name) and I've already billed them and received payments using both customer names. Is there a way to merge these customers? Or do I need to manually recreate the activity on one in the other? Haven't tried deleting either because I'm scared of losing their billing and payment …
    Nike 158 views 5 comments Most recent by harperwharris December 28, 2018 8:03PM
  • Hi - I thought I read somewhere that Wave would soon be having the ability to auto-assign categories to downloaded expenses. I cannot find that function anywhere in Wave. Does that ability exist? Thank you!
    tcolling 16 views 3 comments Most recent by Erik December 28, 2018 7:05PM
  • As a mostly 1099 income freelancer, I sometimes use my personal bank account for business purchases. With my account linked to wave, how can I mark specific transactions as business or personal?
    jonerb 38 views 1 comment Most recent by Erik December 28, 2018 7:01PM
  • Hello, I am reconciling my credit card statements for the year and I realized that I reconciled my first three months of transactions to the wrong month. I would like to fix the issue but I don't see anyway to make those transactions that were reconciled to the wrong month available again for reconciliation to fix the problem. Is it possible to c…
    RJSparks 14 views 0 comments Started by RJSparks December 28, 2018 5:39PM
  • Hi all Having a bit of a nightmare, not quite sure if missing the plot. If I put £100 into my company, and I record this as a +£100 director's loan, then I subsiquently record a £100 expense (stationary, for example), when it comes to the balance sheet I have a negative value exactly equal to this? Not quite sure how I am supposed to be a…
    Lukus 25 views 1 comment Most recent by Erik December 28, 2018 4:13PM
  • Several hundred of my business income transactions are erroneously showing up in my personal profile. Is there a way to batch move NUMEROUS transactions from this personal Account in to the appropriate Business Account(s)? I only see a way to do them one at a time (using the dropdown menu on the far right hand side). If I check the checkb…
    Just_Mark 39 views 2 comments Most recent by madkoch December 28, 2018 4:47AM
  • robrob
    I can't seem to find any way to enter business mileage. I haven't found a way to create the category under expenses, nor any way to enter business mileage. I know there are other apps (MileIQ, TripLog, etc.) that can track mileage, but I'm wondering how self-employed people enter their business miles as expenses. I use my car, as well as my wife…
    rob 1.7K views 14 comments Most recent by MissRosie December 28, 2018 1:32AM
  • Hi, I was looking for suggestions on whether or not I should open multiple accounts for the different services I provide or make 1 general one. Currently I provide 3 non related business services however I receive my payments in 1 bank account and most expenses are on 1 credit card as well. Typically expenses are shared between all businesses (…
    hj527 30 views 2 comments Most recent by hj527 December 27, 2018 6:00PM