Accounting

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  • When recording that an invoice has been paid via the bank entry, Wave doesn't recognise the invoice because the currency conversion has delivered a different amount in the bank. I can record payment directly on the invoice but then I am forced to delete the bank payment or risk having two entries for the same payment. Any ideas on how else to reco…
    AustiAlison 76 views 3 comments Most recent by James_Hudson April 19, 2019 5:12PM
  • Hi Experts, I am new to the invoice process. If i have opened up an invoice in Wave, if my customer wish to cancel the invoice, what should i do? * Should i delete the invoice? If i delete, there is no way i can leave a remarks there. In the event for audit purpose, i will find it hard to explain to the auditor of why the invoice is delete…
    Veeco 36 views 1 comment Most recent by Zoe_caff April 19, 2019 3:54PM
  • HCSHCS
    Hi there, I'm new to small business/accounting and trying to set up Wave for a Partnership my colleague and I just established. I have two questions: 1) We are going to be sharing start-up expenses 50/50. I can't figure out how I should set up the Equity accounts to reflect this. Should we each have our own "Partner Investment / Drawings" ca…
    HCS 22 views 4 comments Most recent by Mikeg April 19, 2019 3:37AM
  • 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 38 views 5 comments Most recent by Ryan_W April 18, 2019 9:38PM
  • I am new to Wave. I am working on reconciling my first month of transactions for my small business. I have imported my transactions, categorized them, and marked them as reviewed. I then went on to reconciliation and entered my bank ending balance. The ending Wave Balance is 0 and shows a difference that is my ending balance of my bank account…
    pierangler 25 views 3 comments Most recent by Agent460 April 18, 2019 1:59AM
  • I can't see an option to design custom reports. Is it possible? Maybe, there's an add-on??
    AnthonyMA 31 views 6 comments Most recent by Rubenwollerich April 17, 2019 6:34PM
  • I want to mark funds each month for taxes, equipment etc but I dont want to have to setup actual accounts and move the money. I've tried setting up a 'TAX Savings" account in the chart of accounts then using a journal transaction to move funds to it from my general bank account - that all works fine. However, now the general bank account's value …
    Convincent 25 views 2 comments Most recent by JamieD April 17, 2019 4:54PM
  • Hello! One of my customers is large company, in which I have various contacts to whom I send invoices and estimates. Is it possible to create one Customer with Multiple Contacts?
    mcfarlanej 222 views 17 comments Most recent by alexlewiszarkos April 16, 2019 6:44PM
  • Basically, businesses are not allowed to use spreadsheets for accounting because data can be deleted at anytime. Instead, all transactions must be posted. If mistakes are made, edits themselves will be posted. https://www.verksamt.se/en/web/international/running/accounting/do-accounting-yourself-or-hire-help
    MXMLLN 25 views 2 comments Most recent by MXMLLN April 16, 2019 6:28PM
  • I use Wave on my iphone but I want to start using it on a dedicated iPad. I can't find this app on the app store. Is wave not offered for iPad?
    Chinebo 509 views 3 comments Most recent by alexlewiszarkos April 15, 2019 9:46PM
  • Need help with accounting for 'drawings' or taking a draw by the owner. When I try to do this and try to take from my main checking account Wave says that all of this type of transaction must pass through a equity account. Say What?
    paul_logan66 244 views 8 comments Most recent by Mikeg April 15, 2019 10:28AM
  • hi we have different buildings each building have many apartments how to manage the income and expense of each & every apartment, separately in this software is it possible? please guide me
    Omerrealestate 69 views 5 comments Most recent by JamieD April 13, 2019 8:44PM
  • I frequently have expenses/income in a different currency from my primary business currency. Is it possible to select a different currency when entering an expense/income transaction? I thought this was a feature of Wave but have been unable to find a way to do it. Any advice? Thank you.
    sockfight 72 views 4 comments Most recent by Samd April 13, 2019 3:16PM
  • Hello, Does anyone know a way to download a full list of expenses? I can see in 'Account transactions' lots of subcategories of expenses e.g. Accounting Fees, but not an option to see a full list. Is this possible? Thanks
    Paul_Illo 30 views 2 comments Most recent by Paul_Illo April 13, 2019 12:05PM
  • Cross-posting from https://support.waveapps.com/hc/en-us/articles/208623466-How-to-handle-sales-tax-returns-and-refunds-from-your-government. I am in the process of migrating to Wave from Simply Accounting–going back to the start of 2019. One of my first transactions in 2019 is my HST remittance to the Receiver General. In SA, I recorded a gene…
    Juggler 16 views 1 comment Most recent by JamieD April 12, 2019 11:58PM
  • mpimpi
    How i can print the chart of accounts? And export to Excel?
    mpi 53 views 5 comments Most recent by bossmommatSharkOFF April 12, 2019 11:47PM
  • Hello, I am having difficulty in understanding waveapps ending balance. All the transaction I entered through Journal transaction as I just started the business. The amount it is showing 19,200 is correct but it is negative. if this figure is positive then all will be good. can anybody explain how to get this figure in positive.
    essam 31 views 1 comment Most recent by Samd April 12, 2019 8:20PM
  • If I go through the "expense by vendor" report, it shows the totals for all Vendors with a recorded transaction....but there doesn't appear to be any way to see transactions that don't have a vendor listed. I know that some of my transactions have been entered without a vendor....due to error or oversight, as it requires an extra step. I just woul…
    TimK 16 views 1 comment Most recent by Samd April 12, 2019 6:13PM
  • Need help on creating Share Capital Account , common shares and class preferred shared account
    MMaynard 69 views 1 comment Most recent by Samd April 12, 2019 5:43PM
  • I am an estate sale agent. I have estate sales for people inside their homes, selling furniture, etc owned by the client. For this service, I retain a commission on total sales. For example: I conduct a two-day estate sale, sell $10,000 and retain 35% commission - writing the client a check for $6,500. How do I categorize total sales (all money, i…
    AshMay 12 views 2 comments Most recent by AshMay April 12, 2019 5:24PM
  • I'm woefully new at accounting and freshly on my own with a small restaurant... please use small and simple terms! lol. I will catch up! I'm setting up Wave but how can I use the system to record my daily sales since it is implausible to record each transaction. Any advice on how to best use Wave for a restaurant setting is helpful!
    blt178 278 views 4 comments Most recent by MerlinAccounts_UK April 12, 2019 9:55AM
  • I am having trouble finding documentation on how to document income taxes paid (as in, I owed taxes to the government and paid them)...I am assuming this is similar to sales tax...using journal entries, but I am not seeing specific instructions on the names of accounts and how to make it all balanced in the balance sheet (which I assume also is so…
    Caryl 32 views 1 comment Most recent by Mikeg April 11, 2019 5:56PM
  • Hi, How should the following two transactions in an S Corp's Wave account be categorized and/or handled? Transaction #1: A $50 personal expense is mistakingly made with the business debit card Transaction #2: In an effort to correct transaction #1, a $50 deposit is made to the business checking account from the owner's personal bank accou…
    HOSPM 17 views 5 comments Most recent by Mikeg April 10, 2019 12:58AM
  • Hi All, I am trying to set up a mortgage and payments as at date and move forward. I am having some issue with this. These are the following steps I've deduced I need to follow: 1. need to setup an Asset account with value $xyz at date 1 - April 2. need to set up a long term liability account $xyz - $100,000 3. need to setup principal mon…
    DShan 22 views 3 comments Most recent by Mikeg April 9, 2019 12:07PM
  • I found the following article: https://support.waveapps.com/hc/en-us/articles/360000099163-Entering-mileage-in-Wave However, what I do not understand is why I credit the Owner's Equity account for the same amount as the mileage. Can somebody explain this? If I use the method in which I create a vendor called "Business Mileage," as explained in…
    wynnel 28 views 1 comment Most recent by Mikeg April 9, 2019 11:31AM
  • My company is not limited by stock value, and thus doesn't have Equity per se. Since account names are arbitrary in Wave, I have classified a liability as Member Contributions, and another as member Capital. I have placed these in 3500 and 3600 accounts respectively. When I donate money to the Company. I am really adding capitol, so do I put it in…
    grysmith 13 views 1 comment Most recent by MerlinAccounts_UK April 9, 2019 9:19AM
  • Hey everyone. I use Monzo as my personal bank account. I also use this bank account currently for incoming and outgoings as a self-employed/sole trader. I've just begun going through my receipts and adding all those in. My plan is to add every expense from my Monzo bank account as receipts with the invoices into Wave. Would this be accept…
    joebloom 23 views 1 comment Most recent by alexlewiszarkos April 8, 2019 9:47PM
  • Hi, Very new and confused. My checking account earns interest and tax is paid on that line 1: INTEREST - CR.INT .012c line 2: IRD:TAX ON INTEREST .01c I have assigned "line 1 Interest:"to category "interest income" How do manage the line 2 "IRD tax"? Do I create a new category in Chart of Accounts and to what? Liability? I'm in New …
    mikeldub 27 views 1 comment Most recent by alexlewiszarkos April 8, 2019 9:18PM
  • I'm an international user (there's no option to link my bank account to Wave), with not much accounting experience. I'm trying to find out how to enter my credit card information in Wave Accounting. I created an account for my Cash Back Credit Card under "Liabilities and Credit Cards". What I'd like to know is what is the best approach to…
    Acumen3 25 views 5 comments Most recent by Mikeg April 8, 2019 5:56PM
  • Hello, I was wondering if possible for Wave to make it possible to report on Fiscal years? I understand it's possible to select custom dates, however, a 'fiscal year' option would be great. It could take the date for the 'settings' page. Chris
    JudeRose 18 views 2 comments Most recent by Wapperer April 8, 2019 12:40PM