Accounting

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  • How do we account for purchases of new equipment within wave, obviously i use receipts for all my regular bits and pieces, i also have a long term asset (van) under Depreciation and Amortization account, but i also have relatively small purchases of equipment that would be expected to last a few years, laptops, machines etc, £200-£500 max, these w…
    whistlingdixy 11 views 1 comment Most recent by Katie_Silkina February 12, 2019 2:27PM
  • Just like the title says...... I've been debating using the Accounting Coach to just put a second set of eyes on my account. I want to insure everything is set up correctly etc....... Who has used this service and what are your thoughts?
    Old_Yankee_Co1951 15 views 2 comments Most recent by amandak February 12, 2019 2:22PM
  • Hello! So I've been using my accounts as personal/business but I'm going to set up a full business account so I don't have this mess. Anyway, I'm wondering what I should be putting personal/family payments through as? For example me sending my wife some cash for shopping etc. I'm going to go back over all of those transactions to correct them b…
    ryanjohnstonco 12 views 2 comments Most recent by Sophia February 12, 2019 2:14PM
  • The Balance display in Transactions is not updating on transaction entry. The Balance Sheet similarly is not updating whilst the added transaction is there in the detail. The situation corrects itself in time but it is very poor in the mean time. I have also found that receipts duly processed are sometimes taking a long time to appear in the tr…
    Mike_C1 33 views 8 comments Most recent by Katie_Silkina February 12, 2019 2:13PM
  • Hi, I and a bank error that appeared on my bank transaction. For example, I deposited $100 of checks, but it made an error and made $1000 deposit. The difference, $900, later came out of my bank account. How should I categorize this $900? Thanks
    rbtjd 16 views 1 comment Most recent by Katie_Silkina February 12, 2019 2:09PM
  • Hi guys, I'm new to WAVEAPPS and have alot of things to ask particularly on the categorizing all the debit and credit / inflow and outflow. The business have the norm activities like : * rental * utilities * loan repayment * invoicing as far as i know, points 1-3 are the debit and 4 is the credit. but how do i categorize these thin…
    whynot_wedding 14 views 1 comment Most recent by Sophia February 12, 2019 2:06PM
  • As an ecommerce company we sell on several platforms that handle sales differently. For instance amazon handles all the transactions and deposits the end result into our bank account twice monthly. One the other hand shopify uses both stripe and paypal to manage payments. Stripe has a daily deposit but paypal holds the money till I transfer it. …
    ToddL 33 views 5 comments Most recent by Katie_Silkina February 12, 2019 2:04PM
  • Hi everyone, I'm a new Australian-based small business owner and I'm struggling with a problem with Wave. Everything has been working well, however I have noticed that my 'All Accounts' balance is inaccurate because it contains duplicate transactions. For example, my 'Payments by Wave' page will show "Invoice payment for Invoice 5" and then my b…
    brightstar123 11 views 0 comments Started by brightstar123 February 12, 2019 4:44AM
  • Hi Transactions that are automatically created in the Wave system can't be edited or deleted is a notification I get on a few invoices. I need to edit this as the bank account it is automatically going to is 'cash on hand' however, the rest of my accounting does not go to this... I have no idea how the transactions were automatically crea…
    customlogoshop 42 views 7 comments Most recent by elisemartinson February 11, 2019 11:23PM
  • hello everyone. is there anyone able to create recurring journals? I have the same journals posting twice a month, and was wondering if there is away to copy the journals or save them as template so I don't have to enter all the details every time.
    MrLalo 16 views 1 comment Most recent by Ryan_W February 11, 2019 10:33PM
  • I'm wondering if anyone else has noticed that some old merged transactions no longer have receipts attached to them? Prior to the UI update, all my old transactions were a merged pair of transactions and I could find the receipt associated with each bank transaction. Very handy. Now, when I look back to transactions older than about 3 months …
    msheldon 20 views 5 comments Most recent by bonnyd February 11, 2019 9:56PM
  • Hi, I have a small business that I dont think warrants a bookkeeper so I am using Wave (which I absolutely love). Problem I am finding is that once a client pays and I record the invoice as being paid it updates to Transactions under Accounting but also when my bank transactions update they also have that same transaction so now it seems like my…
    Thembisa 19 views 1 comment Most recent by Ryan_W February 11, 2019 9:46PM
  • Apparently even though ID numbers are assigned to accounts, Wave lists the chart of accounts in alphabetical order. Is there an option one can choose from? Where do I find it?
    ABMoore 11 views 1 comment Most recent by Ryan_W February 11, 2019 7:09PM
  • Hello Everyone! Long-time Wave user, first time reaching out to the community. I'm looking for suggestions on how to best journalize entries for guaranteed payments to members of an LLC (US). If anyone has any suggestions, I'd greatly appreciate it.
    CCJMc 47 views 4 comments Most recent by Mikeg February 11, 2019 7:01PM
  • My state offers a (small) discount on your Sales Tax if you pay early. Therefore, we need the ability to adjust the auto-built Sales Tax liability amount on a quarterly basis. Otherwise, we have to create separate Journal transactions for this. Thank you!
    TechConnect_JC 9 views 1 comment Most recent by Ryan_W February 11, 2019 6:46PM
  • Hi, I cannot find an option to export invoices with invoice numbers and date, customer, product and value to a csv file. Is this possible? Thanks
    Alijc 25 views 5 comments Most recent by kate_ervin February 10, 2019 3:40PM
  • My Sales Tax Report shows what I owe on my monthly sales tax liability. How do i show i paid my sales tax now. There is no expense line item for sales tax. I just want to be able to see my tax liability less what i paid.
    Songahm 24 views 2 comments Most recent by Songahm February 9, 2019 9:32PM
  • GMTGMT
    A client underpaid one invoice, but then he paid extra on next invoice The amount he paid extra not only covers the balance from first invoice, but also it covers a pre-payment for his next order. How to transfer the extra amount from second invoice to first, and remove the PAST DUE mark from the first one? Where/What category to enter the extr…
    GMT 17 views 2 comments Most recent by GMT February 9, 2019 12:24AM
  • ccjccj
    I am running the Sales Tax Report, to complete my (Canadian) 2018 HST filing. This report shows my HST account, with expected numbers under "Sales Subject to Tax" and "Tax Amount on Sales". However, the "Purchases Subject to Tax" and "Tax Amount on Purchases" are nil. If I click on the "HST" link in this report, the resulting transaction l…
    ccj 11 views 1 comment Most recent by ccj February 8, 2019 2:20PM
  • How do you record the purchase of assets? The items you add only allows for expense accounts.
    RikaSF 13 views 1 comment Most recent by Mikeg February 8, 2019 11:49AM
  • Hello, everyone. I'm new here and having a hard time understanding how to use this site. I linked my bank account, which worked out fine. However, once I integrated my Etsy account, all of my Etsy payments are showing up twice in my Transactions. They are coming in as individual sales through Etsy, but I've already had the money deposited into my …
    kawaiikloth 35 views 5 comments Most recent by MooksGoo February 8, 2019 10:50AM
  • Every time I want to have a look at the Income Statement for the tax year I am working on, I have to manually set the dates for the report to generate. Is there a way to save a report under a custom name so that I don't have to manually 'create' a report?
    Rusticus du Preez 14 views 2 comments Most recent by Rusticus du Preez February 8, 2019 10:18AM
  • I needed to buy a new laptop and have access to a site that allows me to purchase vouchers that give more value than they cost. I paid just over £500 for £550 worth of vouchers. I then used these vouchers to buy the new laptop (with a little bit of money remaining on the voucher that I can use in future). How can I account for this in Wave? Any…
    dannyk 10 views 1 comment Most recent by wagzz February 8, 2019 7:25AM
  • Hi, I have an invoice which I will be paying by 4 instalments. As a result I will have one scanned document (the invoice) and 4 bank transactions. How do I manage this in transactions? I cannot “merge” them, and it is essentially the opposite of “splitting”. Thanks.
    Ubergeeksov 9 views 1 comment Most recent by wagzz February 8, 2019 7:10AM
  • SolSol
    I can't believe I'm sitting here making individual payments that require multiple clicks each on hundreds of invoices. Please show me how I have been just so obviously stupid to miss what should be an obvious multiple invoice payment option??
    Sol 10 views 0 comments Started by Sol February 8, 2019 2:38AM
  • Is it possible to restore the previous version of Wave?
    Mike66 11 views 1 comment Most recent by Samd February 7, 2019 4:33PM
  • I am trying to figure out which account category to use for the opening balances of my personal credit card and bank accounts. Owner Investment/Drawings doesn't seem right because the money did not come from my business; they are just previous balances on my personal accounts. Should I use Personal Net Worth? Or make a new income or equity account…
    erinmichael 13 views 0 comments Started by erinmichael February 7, 2019 1:09AM
  • With the Wave reconciliations feature, the date must match the date of the bank statement. But we'd like to post when the check was written rather than just when it cleared. Is there a way around this?
    jlynnko 17 views 2 comments Most recent by jlynnko February 6, 2019 11:25PM
  • Im trying to start fresh with my accounting for 2019. I've been using another software product and its all jacked up so I want a fresh start. I started importing all of my CC and bank accounts going back to 1/1 however, I must not have set that import date on my main bank and now it goes back 90 days. I think I read that the latest version of wav…
    jwalter007 41 views 3 comments Most recent by jwalter007 February 6, 2019 6:53PM
  • I recently started using Wave and I'm testing it's features. So far I like it. But I cannot understand a few things, one of them why are invoice payments recorded as "debits" some times, and as "credits" other times, and why they subtract money from my account balance? My case: I issued an invoice to customer using Wave, the customer paid by a …
    Konrad 24 views 1 comment Most recent by Samd February 6, 2019 2:54PM