Accounting

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  • I'm completely new to book-keeping so thank you in advance and sorry if these are stupid questions- 1) If I paid for advertising for my company, and someone paid me for their portion, which I had already paid for, how would you show that? 2) If I receive payment for a project, that's split 50/50 how would I show that in accounting? I've alre…
    ReBroker88 12 views 1 comment Most recent by Mikeg February 6, 2019 4:08AM
  • In the P&L report under sales line, which represents the total revenue my company generated has a wide discrepancy against income collected. I've accounted for slight variance due to credits/refunds, however, this doesn't explain why there can be such a huge difference. I'm off by about $20k.
    ctdook 19 views 6 comments Most recent by Mikeg February 5, 2019 1:48PM
  • Hey guys, recently started using Wave and I have been looking through the "Chart of Accounts" section and since I recently received a deposit from a client it sounded like it belonged in the "Customer Prepayments and Customer Credits" section within "Liabilities & Credit Cards"; however when I go to add Income I don't see this as a category (I…
    cyphix333 80 views 9 comments Most recent by glargo February 4, 2019 10:47PM
  • Hello. I have a bill that I entered which has line items for the products/services that I purchased from a supplier. I ended up paying that bill with a credit card. Wave has downloaded the transaction along with the other CC transactions. I went into the bill and marked it paid using that credit card. Now I have to transactions for the sam…
    jwalter007 10 views 1 comment Most recent by Ryan_W February 4, 2019 10:21PM
  • How do I account for a business loan that was already used for a previous year's expense? I have not started to pay it off yet. I. I want to show the outstanding loan amount as a liability on reports each month until it is paid off.
    JaeCNST 15 views 2 comments Most recent by JaeCNST February 4, 2019 9:46PM
  • I have my biz CC and my biz bank account connected to Wave. When I make a purchase using the CC the individual purchases are automatically imported where I can adjust and verify them. Then I pay the CC from my bank account. This is automatically imported as an expense. It's not really an expense, though, as the expense was recorded when I impor…
    PDA1964 22 views 4 comments Most recent by jwalter007 February 4, 2019 1:55PM
  • Hi there everyone! Hopeing someone can help...... I have a handwritten Petty Cash book (cash expenses) that staff fill in it and covers the last 12 months. Rather than entering each transaction manually into Wave, it is possible to type them into a spreadsheet .csv file and import them? If it is possible, can you let me know: * Wh…
    jendela 20 views 2 comments Most recent by jendela February 3, 2019 5:44AM
  • Hi There. I'm new to doing my own accounting and I need some direction. I automatically set my bank statements and my credit card statements to import into waveapps and it worked great. I had to manually enter older statements which I already did but I'm having one issue. I don't know how/what to classify my AX payments from my bank account. …
    Bicoastal 55 views 4 comments Most recent by JamieD February 1, 2019 8:04PM
  • Hello! I like sending out invoices from Gmail, but would like it even more if there was a way to change the default subject line and email body text. Is there a way to do this? Even better if there was a way to change the text using some of the info from the invoice itself (like the info below the word "Invoice" where I put the project name for…
    thejohnmwhite 44 views 6 comments Most recent by JamieD February 1, 2019 6:41PM
  • I created three businesses on Wave and want to consolidate some of the items. Wave lets me move transactions from the first business to the other two, but not from those two into the original business. How can I fix this?
    Elizabeth 616 views 19 comments Most recent by Wilsonm88 February 1, 2019 5:00PM
  • Can we create an expense group/ category and sub-group/sub category. For example: Category : Advertising and within this category a sub category could be: Print Media, or Trade show events or catalogs etc. How can we incorporate this? Similarly for Payroll and other major categories. Thanks
    raza 937 views 10 comments Most recent by JamieD February 1, 2019 4:48PM
  • Hi, simple question. Can we customize Statement templates / layouts? (for e.g. I'd like to add banking details). Kind Regards D
    dve83 11 views 5 comments Most recent by JamieD February 1, 2019 4:18PM
  • I want to enquire how does one record the assets and liabilities in wave as I am struggling to capture the new assets that was bought by my client? I recently started using Wave so I am still learning how to use it.
    bkkclient 725 views 7 comments Most recent by JamieD January 31, 2019 10:00PM
  • How do you keep track of inventory in this app? If i make a sale and I create an invoice for example. The transaction is generated as cash on hand and sales (I assume as i can't see a full journal entry just the main description). So, Do i need to create a manual journal entry with merchandise inventory or cost of goods sold to keep track of the …
    lariosmotors 36 views 2 comments Most recent by JamieD January 31, 2019 9:56PM
  • Folks: I have an asset-based business where I own an asset that is rented out and I receive a settlement statement each month from the management company. I record this through a journal entry to record each month's performance. I've connected my bank accounts, and I end up with all these duplicate entries. As an example, I record an entry on t…
    captbrando 13 views 2 comments Most recent by captbrando January 31, 2019 8:23PM
  • How do I put a negative amount into an invoice to represent a refund.
    Charlie05 584 views 20 comments Most recent by JamieD January 31, 2019 5:46PM
  • I need to submit my business return to CRA and because my first year was very simple (zero revenue, very few expenses), I don't want to use my accountant for this (I have another business that is much more complicated and he and my bookkeeper use Quickbooks to manage bookkeeping and accounting for that). From what I can tell, Wave doesn't have …
    Mikebrcic 35 views 4 comments Most recent by Mikebrcic January 30, 2019 11:48AM
  • Hello I am not finding any options to transfer from personal to business. Please help me out.
    Dipanshu Tyagi 13 views 4 comments Most recent by JamieD January 29, 2019 11:18PM
  • Hello Wave Team, Wave has been a great application and we have been using it at our company for the last 4 years. We find it awesome and it manages all our accounting. We have a small suggestion to put forward. We deal with a lot of recurring bills every month including salaries, utility bills and other service bills which are mostly the sa…
    Zahir 23 views 1 comment Most recent by JamieD January 29, 2019 10:53PM
  • Hi there! I can't reconcile my statements. All the transactions are in there and correct, however it is not showing in "verified balance" even though they are verified. I saw previous posts about changing time zone. I have done that, changed to EST. Not sure how to fix this. Extremely frustrating and time consuming. !
    OneClub 32 views 6 comments Most recent by JamieD January 29, 2019 10:12PM
  • The list of transaction categories for filing is very limited. I need one for legal, and there is nowhere to add one.
    ShoshanaB 17 views 2 comments Most recent by Charlotte January 29, 2019 9:50PM
  • I get invoiced by a third party trainer who does work for me, can i upload the invoice they send me (pdf) as a bill? I have been trying to see if this is possible but cannot see how to do it. Appreciate any guidance Echeb
    Echeb 16 views 2 comments Most recent by Charlotte January 29, 2019 9:37PM
  • Hi, With the new update, how do one process payment of multiple invoices from one deposit?
    Frans 24 views 4 comments Most recent by AffordableFix January 29, 2019 9:28PM
  • Where can I find an option to remove or hide the Country line from my business address, as well as the customer's address? Just one less line taking up space would be great, in my local small business, country does not need to be specified. Cheers!
    RRTS 16 views 3 comments Most recent by AffordableFix January 29, 2019 9:28PM
  • Recently purchased new printer for my business, which is under a 5 Year lease, how do we record with wave, payments , value etc
    MMaynard 35 views 5 comments Most recent by jonnyjain January 29, 2019 9:22PM
  • I have an S Corp, and I'm my sole employee. The S Corp pays my health insurance premiums, which are subject to income taxes, but not social security or medicare. Is there a way to get Wave to properly account for this tax treatment?
    pivy 44 views 4 comments Most recent by Labob246 January 29, 2019 9:20PM
  • Show the Account Hierarchy in the Chart of Accounts. For example an expense can be COGS or Expense, however this can't be determined without tracking where transactions end up on a report
    DMAjic 20 views 4 comments Most recent by DMAjic January 29, 2019 7:27PM
  • Product Development is in the expense category, but shows up under Cost of Goods Sold on the income statement. Can this be changed?
    DMAjic 12 views 4 comments Most recent by DMAjic January 29, 2019 7:27PM
  • My credit card account shows my balance as a positive and not a negative. Meaning the amount we owe on the card is showing as a positive balance in wave. So it looks like I have overpaid or something. How do I change this? What do I need to do for it to be accurate?
    Kerissa 21 views 3 comments Most recent by ayam January 29, 2019 6:47PM
  • Hi there, I don't seem to be able to find any information on how to include this tax in expenses... Can someone explain a simple example. Say my profits at £1000 and I owe £200. How do I expense this so that is doesn't change my profits for the year, which are of course still £1000. Thanks Philip
    smallBiz 127 views 7 comments Most recent by harveydt January 29, 2019 12:00PM