Accounting

Category List

Discussion List

  • My accounting knowledge is very very minimal. Sit on a curling club board and doing this as volunteer work. Inherited an accounting program on Excel that has numerous errors and have so far successfully re-entered information in Wave. I need to know how to create fixed assets, more importantly how to get values assigned to these assets. The asse…
    Eric_1977 34 views 1 comment Most recent by Samd December 7, 2018 2:30PM
  • I just started using Wave. I drive trucks for work and have expenses for taxis, public transportation, hotels, flights, and other deductible categories. When I add a receipt, the drop-down list does not have any option for travel expenses. Is there a way to add custom categories for my business? I'm surprised that such common expenses would not…
    truckandrun 50 views 2 comments Most recent by truckandrun December 7, 2018 2:46AM
  • Hi All, I'm a little clueless to bear with me... I have a couple of properties that I rent out, they are managed by a 3rd party to collects the rent and fixes any problems on my behalf. Each month I receive a "statement" from them, this tells me what outgoings there have been that month and tells me what remaining money (the rent minus thei…
    mushroomgodmat 16 views 0 comments Started by mushroomgodmat December 6, 2018 9:28PM
  • nearly all my transactions come into wave via an auto import from my corporate card. What I’d like to do is be able to select a handful of transactions that are already in Wave and then create an expense invoice populated with those transactions. Is that possible? Thanks, Mike
    Marrahm 28 views 2 comments Most recent by Marrahm December 6, 2018 3:12PM
  • How to record office equipment in Wave? When I add new item (Aircon) but the category can't set under office equipment.
    AngelsBud_2018 60 views 1 comment Most recent by Samd December 6, 2018 3:12PM
  • Hi everyone I'm just getting started with Wave. So far I'm really impressed by the interface and ease-of-use! I have run into one error though that I really can't wrap my head around. I'm a complete accounting novice, so sorry in advance in case I don't understand some of your advice! Background I am a sole trader working in the music in…
    alexjones_26 127 views 2 comments Most recent by JordanFromWave December 6, 2018 12:26AM
  • I followed this article: https://support.waveapps.com/hc/en-us/articles/208621616-How-to-create-a-transfer-between-two-accounts-e-g-categorize-a-credit-card-payment- But when I get to step #5, it doesn't let me locate the line matching the transaction for the other side of this transfer. The only thing that shows up after clicking Transfer is 'Ca…
    TedStevens 15 views 0 comments Started by TedStevens December 5, 2018 7:16PM
  • Hi Community, I've bought some equipment to be rented out but I'm curious as to the accurate way to record this within Wave. When I upload the receipt, wave automatically suggest (correctly I suppose?) that this goes into (debit) an expense account and comes out of (credit) an asset account. That's all well and fine, but I believe this shoul…
    CenusHinds 14 views 1 comment Most recent by Ryan_W December 5, 2018 7:01PM
  • Can anybody talk me through how to record a transfer between my personal account and my business account in Wave? Sometimes I need to move money from my personal account back into the business to help pay for a large expense etc. and I'm not sure how this should be recorded. When I look under the 'Transfer to bank, credit card, or loan' category,…
    PersephoneC 969 views 22 comments Most recent by Ryan_W December 5, 2018 5:47PM
  • Hello, I switched banks and moved all my money. How do classify the category in Wave? I only have one income account right now (membership fees), but when I use that category it looks like my membership fees increased on the reporting. Do I create a new income account or post it some other way? Thanks in advance for your help
    sidefly 13 views 1 comment Most recent by Ryan_W December 5, 2018 5:29PM
  • I cant remove a business. I have 3 current businesses running and set up 2 demo ones which i cant remove and they are cluttering my wave. how can I remove them without taking down my account.
    chan_lee01 29 views 2 comments Most recent by chan_lee01 December 5, 2018 1:35PM
  • I am considering migrating to Wave from Quickbooks to save money, but the task of migrating all my data is quite daunting. Will I need to manually enter everything (customers, invoices, list of accounts, etc.) from scratch?
    TechieSophie 26 views 9 comments Most recent by Wave_Pro_Ecuador December 5, 2018 1:12AM
  • Hi there and a new wave user question: The dashboard cash flow report/preview shows only cash in our case, so the majority of payments we get from paid invoices does not show up. Most of our clients pay with credit cards using waves payment processing. To see the real number I have to see the cash flow report, set the time frame and and set the pa…
    RvAndrian 21 views 0 comments Started by RvAndrian December 4, 2018 6:19PM
  • Hello, This may because I am fairly new to Wave's accounting software but something very interesting is happening. I linked a Credit Card to the Wave app because that's what is used for all business expenses other than expenses that need to be drafted from a checking account. When the expenses come through, I categorize them as appropriate (…
    BFSolutions87 15 views 1 comment Most recent by JamieD December 3, 2018 6:39PM
  • I am new to WAVE, very new. I have used Quick books for years and I want to simplify things so that is why I started WAVE accounting. I need to assign the value of our fixed assets that are on our books now in WAVE. I have them entered but I can't figure out how to put the value to them.
    BC_58 61 views 1 comment Most recent by JamieD December 3, 2018 5:41PM
  • Hello I'm the Treasurer for a school PTA, so using the free version of Wave. Nothing particularly complicated and I've been using it for a couple of months and have a basic handle on it, but I don't see how I can add a .pdf to a transaction (i.e. a receipt and other documents linked to the transaction from the bank reconciliation) like you can …
    IainM 29 views 1 comment Most recent by JamieD December 3, 2018 5:12PM
  • I've done a search and can't find any questions or answers that come close to what I am looking for, so here goes. I am a maker and I just set up formal business and accounting structures for my work this year. As of right now, I am only recording material costs as an expense and product sales as income. My sales volume and product variety doe…
    ohiobliss 56 views 1 comment Most recent by JamieD December 3, 2018 4:52PM
  • Hello. As a charity, we have to treat some of our funds as restricted. How do you do this in Wave?
    aeolai 5 views 2 comments Most recent by aeolai December 3, 2018 8:27AM
  • Hello. My name is Diyor and I'm new to business accounting. I imported goods and received an invoice from customs broker including GST for the goods purchased. In order to record it properly, should I create entries that reflect separately the services of a customs broker and GST and GST for Goods as a separate entry? Please kindly advise what wou…
    Diyor 28 views 3 comments Most recent by Diyor November 30, 2018 6:13PM
  • Help, please. I have two accounts one in CAD and another in EURO. I made a purchase of EURO from CAD acc and debited EURO acc. After that, I paid to the supplier in EURO and did customs clearance in CAD. Obviously, I have an exchange rate difference as well. Please kindly advise how to record these transactions. Thank you in advance, Diyor
    Diyor 15 views 2 comments Most recent by Diyor November 30, 2018 6:08PM
  • My credits/payments are showing under my debit tab and the debits under the credits tab when i look in account transactions. Has any one else had this issue and how did you rectify? Thanks!
    studiob_246 21 views 6 comments Most recent by JamieD November 30, 2018 4:12PM
  • Hi there! I own several properties and I employ a property manager. The PM collects the rent, they take their percentage and then cut me a check for the rest. My question is how do/should I track that in the WavesApp? Since the app is linked to my bank, the transaction is good but not sure how I should add PM Fees. Example: Rent: $500…
    UpInThisJoynt 116 views 5 comments Most recent by UpInThisJoynt November 29, 2018 2:13AM
  • Hi, I record all my invoice from the supplier I use in Bills. But I often end up receiving refunds from them for returned goods. I create a new transaction ("Add Income") and categorize it under "Refund received for a bill in wave" and select the correct bill the credit is associated with. When I go back to the original bill the refund was issued …
    Babs 27 views 1 comment Most recent by Erik November 28, 2018 8:47PM
  • Good Day, I am in my first year using Wave. I don't have a ton of cash flow but have enough I wanted to track it. There are times where I need some money out of my personal (home) checking account and deposit it into my business account to cover a purchase. I set up an "account" Called Owner Income in Other Income category. I th…
    durwoodghib 15 views 2 comments Most recent by durwoodghib November 28, 2018 1:56PM
  • Hi, I own a rental property through a limited company. When the company bought the property it had to pay a substantial amount of Stamp Duty Land Tax (SDLT). This tax is sufficient to cover profit for the next several years (I don't know if it's permissible to count it against profit though when calculating corporation tax?). When doing the acc…
    Andorin 221 views 6 comments Most recent by trelimon November 27, 2018 4:41PM
  • Hi, I have followed the instructions in this article to adjust both accounts for the business expense. I have debited the appropriate expense account, however, when I go to Transactions and pull up that Category, there's no record of expense there. Eg, I paid for lunch with a client using my personal account. I recorded the expense in my persona…
    velvetinkmedia 56 views 3 comments Most recent by velvetinkmedia November 26, 2018 3:20PM
  • Hi I'm new to wave and accounting in general. Im a small sole trader based in the UK and having trouble working out what to do when taking money from "The Business" ]I understand that as a sole trader I am the Business, but for the purpose of getting my accounting figures to look correct i am having a little trouble recording when I move money…
    JKCWS 75 views 11 comments Most recent by JKCWS November 25, 2018 6:16PM
  • Hi there! I run a travel agency and I am facing some difficulties as below: Assuming I sold a tour package worth $1000 to a customer in January, I issue an invoice to the customer and the customer pays in full My tour operator (let's call him ABC operator) sends me a bill of $800, which I would like to record under Purchases > Bills …
    Kenbong 38 views 1 comment Most recent by James_Hudson November 23, 2018 10:02PM
  • I have a receipt for business equipment that should be categorized as an asset. It appears Wave only allows me to categorize a purchase as an expense!? Sure I can categorize it as an expense and then go edit the transaction to change it to an asset, but that is a hassle when it would be so much easier if Wave let me select an Asset account. D…
    sageacy 29 views 1 comment Most recent by JamieD November 23, 2018 9:38PM
  • Hello I had a machine go down and insurance covered the cost to replace. How do I record this transaction? I have a check from them to deposit, and then will need to pay contractors.
    zkaufman 27 views 3 comments Most recent by Samd November 23, 2018 9:38PM