Accounting

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  • 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 mo…
    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 183 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 questions…
    geebee 40 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 14 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 43 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 step 2,…
    DaveB 17 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 60 views 2 comments Most recent by Ryan_W December 31, 2018 9:21PM
  • I'm not able to find any information regarding the printing of Accounts Payable checks. Does Wave Accounting support this? It's not useful to me if not since many of my vendors do not accept credit card payments.
    David 381 views 9 comments Most recent by Waveuser1 December 31, 2018 6:27PM
  • 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…
    NCCWarriorstreasury 49 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 310 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 225 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 17 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 48 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 ch…
    RJSparks 15 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 appropi…
    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 checkbox, th…
    Just_Mark 51 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 (ex…
    hj527 30 views 2 comments Most recent by hj527 December 27, 2018 6:00PM
  • My company is a Rental Company. I'd like to be able to see P&L by property side by side , and Balance Sheet for the LLC as a whole. I have been thinking of setting up properties as Products to which I can attribute Rent (Sales Revenue) as Income and Repairs, Prop Mgt., Mtge Payment etc. (COGS) as Expense for individual property P&L, whil…
    shawali2009 30 views 1 comment Most recent by JordanD December 27, 2018 5:07PM
  • I've connected my business checking account, but I wanted it set as "cash on hand". On the drop down, that isn't present. What gives? Would appreciate some guidance. Kind Regards (Image)
    beehjae 16 views 2 comments Most recent by beehjae December 27, 2018 3:57AM
  • Hi there! I'm selling items on Amazon Seller Central. After 2 weeks, Amazon transfers the money to my Bank Account. Meanwhile, my bank account spends money on shipping, etc. for Amazon. This means that for 2 weeks, I don't have an accurate display of the current profit. This is why I wanted to use an accounting software life Wave. So, both are …
    PlentifulEarth 46 views 3 comments Most recent by Samd December 26, 2018 9:31PM
  • I'm just setting up Wave (converting from Quicken Home & Business), and I'd like to know how other people use Wave for the personal side of their finances, or if they don't, how you interface with a personal finance program. The business side of Wave is working well for me, but as a solo businessperson, I also need to manage my cash flow on th…
    nbsf 44 views 0 comments Started by nbsf December 26, 2018 8:32PM
  • Hi, I am Canadian but my major client is US and pays in US dollars. They will be sending my business checks that I plan to deposit into a US-dollar account. To save on the exchange fees charged by my bank, I hope to first transfer the money to my personal US account, do a Norbert's Gambit, and then transfer it back to my business in CAN dollars. …
    shday 69 views 3 comments Most recent by Samd December 26, 2018 7:27PM
  • Trying out Wave and brushing up on accrual basis accounting... I had a balance sheet where Cash and Bank + To Be Received - To Be Paid Out = 0. When I added an expense for purchasing a piece of equipment, the bank account reduced properly and the equipment shows as a long-term asset. However, the top line of the balance sheet is now negative by th…
    dgwd 15 views 1 comment Most recent by Samd December 26, 2018 7:22PM
  • I have a camera lens, one of my fixed assets, that I have disposed of but as it is less than a year old have not applied any depreciation. I sold the old lens by trading it in but in doing this got more than I paid for it . The Seller has issued me with a receipt showing the new lens and the old as traded Part ex. How does Wave handle a fixed as…
    Trunxson 14 views 1 comment Most recent by Mikeg December 26, 2018 3:41PM
  • SLSSLS
    I was sent payments for invoices, by check, in November and December. However, I have been out of the country since before they were sent to me, and will not be back till January, so I won't actually get the checks and be able to deposit them into my account until then. I operate my business on a cash accounting basis, so I'm assuming I'll just ac…
    SLS 41 views 1 comment Most recent by Mikeg December 25, 2018 10:07PM
  • PjmPjm
    Hi im wanting to send my invoices as a PDF. Is this able tobe done
    Pjm 23 views 3 comments Most recent by Brent_Ontrax December 25, 2018 1:13AM