Accounting

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  • 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
  • Hi guys I have been using wave for a month now and it's time to log all my expenses. I just found the receipts app for IOS yesterday and it's fantastic. Before finding the receipts app I had planned to import my bank statement and log each expense that way. After doing a test receipt I noticed the expense is automatically added to expenses. …
    NinjaSkold 33 views 4 comments Most recent by Charlotte November 1, 2018 11:33PM
  • Hello, I'm just wondering if there is a setting where I can "close" off a GST period. Eg. it brings up a warning if I was to try to enter another transaction dated for a period where the GST has been filed?
    Nikita 1 view 3 comments Most recent by Charlotte November 1, 2018 11:30PM
  • Hello! This question is for anyone who has experience with this. I have a fix and flip business. I usually only have 1 or 2 projects going on at once and run them all out of a single business checking account. Because I really want to know stats on each individual project I am using the workaround of creating extra Accounts to keep track of eac…
    epitoma 42 views 1 comment Most recent by Katie_Silkina November 1, 2018 5:21PM
  • I tried adding new accounts to my chart of accounts. When I create one under expenses and then go to input a bill I can access it. When I created new ones under assets and then go under bills to input I don't see my new accounts as an option under assets. If I run my reports, they will be wrong. Why can't I see my new accounts?
    NRand 21 views 1 comment Most recent by Charlotte November 1, 2018 3:15PM
  • Hello! In 2016, there were a few bills that were only partially paid by the company I work for. For exemple, the bill would be of 620$ and only paid 600$ (why? I don't know). The vendor never asked for the rest of the payment. These bills are marked as unpaid and they still appear in the "Aged payables". Obviously, 2016 is a closed yea…
    GroJ 22 views 1 comment Most recent by Charlotte November 1, 2018 2:21AM
  • Hi. If I get paid for more than one invoice on the same day from various sources (not direct via Wave) I've found that Stripe will deposit these as a lump sum. So for instance I had 2 invoices paid on the same day, 1 for $495 and 1 for $185.90. The $495 was paid via my website and the $185.90 as a credit card payment via WAVE. After stripe fee…
    DaveyG 21 views 1 comment Most recent by Charlotte November 1, 2018 2:12AM
  • I stuck at the second month, no idea where it went wrong, please help, no one in support replies my email See Aug 2018 I have -89.65 different. I assume it's opening balance carry from July. I went in add an income, Personal net worth, as below: but I made it worst: I've checked every single transaction on my statement are matc…
    waveisawesome 51 views 1 comment Most recent by MerlinAccounts_UK October 30, 2018 11:31AM
  • Kindly advise me as to account purchased materials return to vendor and sales return from customers. Thanks and Regards
    suguspic 64 views 3 comments Most recent by suguspic October 25, 2018 2:34PM
  • How to do vat reverse charges in Wave?.
    ThePlayground1 52 views 4 comments Most recent by MerlinAccounts_UK October 25, 2018 1:12PM
  • Hi looking for some advice. I have two businesses setup in Wave. These two businesses are just additional branches but have their own journals, debt and are located in different locations. They also deal with some different location based expenses and vendors. It is essential to have them setup as two businesses so that we also have accurate r…
    ryanA 23 views 2 comments Most recent by ryanA October 25, 2018 11:37AM
  • I have a product that I digitally pay for an account balance, then buy different services from that account balance. Money leaves my account when I fund the supplier account, then when someone purchases an item from me, i need to process that somehow in the accounting. Can someone help me with the way i should process this Kind Regards S…
    StuartBlack 107 views 2 comments Most recent by StuartBlack October 25, 2018 6:43AM
  • I'm trying to edit my credit card reconciliation date. It shows that the end date is June 30th, but the actual statement date is June 6th to July 5th. After doing some searching online, I changed the time zone on my computer (I saw that this was fixed but figured I'd try anyway), I have created an owner's equity start date of June 6 and have don…
    daisyinthemud 3 views 1 comment Most recent by Charlotte October 25, 2018 2:48AM
  • Hi, trying to understand how to enter custom-made inventory, for example art that was custom-made, not purchased. I understand the costs need to be accounted for in the COGS account as an expense and the item needs to be added to the Inventory account as an asset, but how is it recorded? It isn't a purchase or a sale, per se - is it a deposit or a…
    anarch 11 views 1 comment Most recent by Charlotte October 25, 2018 2:31AM
  • I have just started using Wave for doing our accounting for a community group. I want to start it from 1.7.18 but I am having trouble setting up my bank account with it's starting balance. It seems to only let me start my banking records from today's date. Any help appreciated.
    Marcy 33 views 2 comments Most recent by Marcy October 24, 2018 11:18PM
  • Hey Team, Just posted over here about following this help centre article, and I want to know, if I still want a bill for this item, even though it was paid for from my personal account, how do I add a payment? I followed the instructions to do the Journal Transaction, and then I thought I would just be able to add a payment to my bill and se…
    dpDesignz 13 views 4 comments Most recent by Tyler October 24, 2018 10:59PM
  • I am using the free version of waves accounting and I have noticed that my income Chart seems outrageous for some reasons unknown to me. This month however, it was quite obvious that income attributed to my business isn't so. What am I not doing or doing to make it so?
    Nini_75 12 views 2 comments Most recent by Charlotte October 24, 2018 10:49PM
  • Can you enter a loss and gain account
    barbarabritto 1 view 1 comment Most recent by apples October 24, 2018 10:47PM
  • We don't quite understand the reconciliation function. We enter the bank ending balance and statement date and sometimes find a difference for uncashed checks but no way to mark them as still outstanding in the Wave statement. It seems that the process works backward, instead of reconciling the Wave statement to the bank's, we reconcile the bank's…
    Delta_Fly_1976 22 views 4 comments Most recent by Delta_Fly_1976 October 24, 2018 10:45PM
  • Maybe I am confused... Is Wave meant to keep track of my PERSONAL finances / accounts using separate bank connections? Or is everything clumped together? For example: I have some personal savings accounts, checking accounts, and stocks. I would like to - if possible - keep things separated so that it is easy for me to see what is personal an…
    Just_Mark 268 views 1 comment Most recent by James_Hudson October 24, 2018 10:45PM
  • I currently have my TD Business Account and TD Personal Account tied to my wave back office when i move money/transfer funds from TD Business Account that are dividends to my personal TD account, how should i record these transactions, right now, it shows as a transfer between the two
    MMaynard 110 views 1 comment Most recent by apples October 24, 2018 10:05PM
  • Is there a way to change the settings to reflect an account that only sends quarterly statements? My savings account only sends qtrly, not monthly, but my other accounts are all monthly. If not, how would you handle reconciliation?
    Suzetteml 1 view 1 comment Most recent by Katie_Wave October 24, 2018 9:52PM
  • WHEN I PRINTED THE G/L IT DID NOT PRINT BY DATE. IS THERE A WAY TO SORT BY DATE
    barbarabritto 1 view 1 comment Most recent by Charlotte October 24, 2018 9:47PM
  • Hello. My name is Brandt, co-owner of a party rental business. I am new to Wave and need help with my chart of accounts from start to finish. Like, how do i input the total investment amount of money from 4 co-owners and how do I chart my rental equipment which includes tables, chairs, bounce houses, confession machine, etc. How do I chart when I …
    brandt 11 views 1 comment Most recent by apples October 24, 2018 9:44PM
  • I am switching from Xero to Wave. I've inserted all my statements from Jan 2018 to present. Everything from Jan to June shows as unreconciled. My Statement balances are different than the Wave Balance. When I click on the Reconcile button, it tells me "No results are found." so I am unable to reconcile these statements? How will this impact my yea…
    themeowmanor 21 views 1 comment Most recent by Tyler October 22, 2018 7:35PM
  • I want to create multiple accounts of the same account type. For example I want to create 2 X Expense -> Cost of Goods -> Fuel accounts each for a different employee (so something like "Fuel - Allen" and "Fuel - Robbie). I can create the first account no problem but then when I try to create the second account the Expense -> Cost of Go…
    allenfirth 2 views 3 comments Most recent by allenfirth October 22, 2018 2:47PM
  • WHEN I CONVERTED TO THE NEW VERSION, IT SEEMS AS THOUGH I LOST MY EXPENSE CATEGORIES. THEY STILL SHOW UP IN TRANSACTIONS BUT DO NOT SHOW ON THE DASHBOARD UNDER EXPENSES. ALSO, THE ACTUAL NUMBERS FOR INDIVIDUAL MONTHS DID NOT COME OVER PROPERLY. WHAT DO I DO?
    LEONIDASKALOPITAS 2 views 1 comment Most recent by Ryan_W October 22, 2018 2:46PM
  • I like to enter my transactions as soon as they occur. Most times they get entered as a journal entry because the bank has not received the information on the transaction yet. When the bank info downloads, I now have 2 entries for the same transaction. Is there a way to combine/merge them? From what I can tell, the merge feature does not work …
    Suzetteml 1 view 3 comments Most recent by Tyler October 22, 2018 12:27PM
  • Hello! I wonder if anyone has come across this: I am using wave for a small business owned by my husband and I, we are a band. Last year we donated income from a concert to two organizations, one for the fires in sonoma and one for earthquakes in Oaxaca. I cannot find a category for donations. I wonder if there is any way to deduct this on our sch…
    cascadadeflores 99 views 1 comment Most recent by Ryan_W October 19, 2018 9:41PM
  • Hi , Just looking at the best way to set up my products to invoice, basically we make glasses for other opticians, so adding our products is not a problem when adding to the invoice, the problem starts when each products needs a job reference, I seem to have to create another product to include a reference for the job, is there a notes section to …
    eyedesign 2 views 1 comment Most recent by Tyler October 19, 2018 9:07PM