Accounting

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  • I'm starting to prepare for tax season, and I've added all my 2018 expenses to Wave, including Meals. I've noticed that Wave subtracts 100% of each Meal expense, while the US IRS only permits 50% of eligible meals to be deducted as a business expense. So I have two related questions: 1) Is there a way to adjust the % deducted for a type of expe…
    GeneSVB 30 views 2 comments Most recent by GeneSVB March 11, 2019 7:14AM
  • The link in the email you sent me does not work. I need webinars and I need customer support. I have sent and do not get any response.
    PeggyLee 43 views 3 comments Most recent by alexlewiszarkos March 8, 2019 7:00PM
  • I am using Wave for both personal and business. I really like how it can categorize all the income and expenses, but because only my personal accounts are linked (and not my husband's), it's only tracking and organizing half of our family's finances. Do any of you have yours and your spouse's accounts all linked to the same Wave account?
    erinmichael 17 views 0 comments Started by erinmichael March 8, 2019 5:46PM
  • I have a brokerage money market account, set up as a checking account in wave. It pays a monthly dividend let's say $10 and the dividend is automatically reinvested in the money market. The $10 is downloaded as two transactions, the dividend and the reinvestment. How do I manage this in wave without recording the income twice? Obviously I can…
    Cary 5 views 2 comments Most recent by alexlewiszarkos March 8, 2019 4:38PM
  • Hello, I would like to put a 15% deduction on my invoice as this is a finders fee that needs to be retained. How do I add this? Example: Invoice is $10 000, then it must show the 15% as a "split or fee" and then the balance due is $8 500. Also, can I load two deductibles on the invoice for two fixed currency fee?
    TerenceTobin 25 views 7 comments Most recent by alexlewiszarkos March 7, 2019 7:32PM
  • Can anyone please tell me the steps to undo a monthly reconciliation
    jackiehaldorson 6 views 1 comment Most recent by alexlewiszarkos March 7, 2019 5:47PM
  • I use paypal "here" to take credit card payments for medical services. Over a period of 1-2 days there is a balance in my paypal account that i can transfer to my business checking account. Let's say after 20 transactions i've processed $100. Paypal deducts their fee automatically and leaves $97 available in my account. I then transfer $97 …
    Tdub 26 views 1 comment Most recent by alexlewiszarkos March 7, 2019 5:30PM
  • Hi guys, I upload my bank statements monthly and O was just wondering if there is anyway that I can change the category of everything at the same time? I am upload over 200 separate transactions however they are all for the same category. I am currently having to go into each one and change the category - which is making it more laborious than …
    MayaMercer 7 views 1 comment Most recent by alexlewiszarkos March 7, 2019 5:15PM
  • Hey Guys - WHenever I pay anything through PayPal it shows the expense coming out of my bank but PayPal shows up as an income. How can I prevent this double entry problem when something is actually an expense.
    joeyb506 21 views 2 comments Most recent by alexlewiszarkos March 7, 2019 5:06PM
  • I have setup my bank accounts to sync, classified my lodging income, tax and expenses and have succeeded in balancing and creating my P&L, etc. Currently, I enter a 'bill' if I buy something and need to be reimbursed from these accounts. Or, I record the expense when it hits the bank account. The 'income' is tracked when a deposit is made f…
    SeadanceRental 471 views 10 comments Most recent by Efi March 7, 2019 12:10PM
  • How do you record personal cash that's invested into the physical construction of the business? I am having trouble determining whether that's recorded as building or as owners investment.
    Nads 15 views 2 comments Most recent by Nads March 7, 2019 12:27AM
  • How to identify duplicate transactions? Or Where are the duplicate transactions flagged?
    Nilay_Shah 21 views 3 comments Most recent by Ryan_W March 6, 2019 10:04PM
  • Hi all, I'm looking at my Profit & Loss statement and I'm seeing that Wave is recording: Payroll Gross Pay + Payroll Employer Taxes + Payroll Salary & Wages as operating expenses. This means it shows the payroll amounts twice as an expense and this expense is duplicate. When I look at Payroll Gross Pay, it shows in the books as…
    peng_o 30 views 1 comment Most recent by Mikeg March 6, 2019 12:46AM
  • OK - here is the scenario. I have a customer that after viewing the Customer Statement of Accounts shows that they have a credit balance - money that they have overpaid. How would you handle this? My thought would be to set up a new account under Chart of Accounts / Liabilities / Customer Prepayments and Customer Credits. How would I sho…
    scout_treas 19 views 4 comments Most recent by Ryan_W March 5, 2019 11:56PM
  • I'm a new business owner in Ontario and am a bit confused about setting up the sales tax in Wave. Should I be creating two sales taxes? One for HST charged to clients that's used for invoices and a second one for HST paid for products that's applied to receipts for products bought for the business? I've also received conflicting information about …
    laila 20 views 1 comment Most recent by Ryan_W March 5, 2019 9:11PM
  • 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 12 views 4 comments Most recent by Igor March 5, 2019 2:29PM
  • As I understand, currently Wave does not support the BAS system in Australia. Is this something you are working on or is there a way to product business activity statements every quarter through Wave?
    Fredd0 26 views 1 comment Most recent by Ryan_W March 4, 2019 6:01PM
  • Hi, I have placed an order for 2 items, both of which attract VAT (UK sales tax). I have been sent two VAT receipts, one for each item. I am paying for the 2 items by instalments. ~ I have therefore set up a bill for the total cost, to which I then apply payments, as and when they are due. How can I attach the scanned copies of the two VA…
    Ubergeeksov 13 views 1 comment Most recent by Ryan_W March 4, 2019 5:33PM
  • On my Bank Connection tab under the Accounting window, the figure matches what is currently in my connected bank account. However, it indicates that it was last updated 49 years, 2 months ago. When I review the Accounting tab under Transactions, the amount indicated is not synced. It reflects my transactions from last year only (2018). It re…
    JorgeG 9 views 2 comments Most recent by JorgeG March 3, 2019 7:28PM
  • Do you have a french version of your application?
    cdesbiens 645 views 17 comments Most recent by HighburyPaul March 2, 2019 7:38PM
  • jdbjdb
    I have an accounting question I have so far been unable to find an answer to online. When I was linking my personal bank account to my business bank account to enable transferring money in/out of the business account (for "Owner Investment/Drawings"), I ended up with two "microtransaction" deposits ($0.03 and $0.15) in my business bank account …
    jdb 6 views 1 comment Most recent by Mikeg March 2, 2019 4:13AM
  • Hi started using Wave for my new office. I make a record of purchases by creating bills from a vendor, the payments for these multiple bills are made only at the end of the month through a single bank transaction. Could you assist to record payment of multiple bills using single transaction in Wave? In short - how to record Multiple bills paid…
    Vineeth 14 views 1 comment Most recent by Samd March 1, 2019 7:13PM
  • Hi All. I have a small jewelry business. I'm trying to use Wave just for making Profit-Loss statement (not to generate invoice) I mostly have following accounts * Sales (I add one total figure after every month) * Inventory (Total cost to buy goods from my dealers) * Shipping cost (Cost to bring good from dealer to my home country)…
    AnikaBK 524 views 7 comments Most recent by yogesh March 1, 2019 11:35AM
  • I am looking for help moving transactions from my Wave business account to the personal account, very much like what is described in this article:https://blog.waveapps.com/business-vs-personal-no-more-fighting/As is discussed there, Ihave a single-member LLC and am often times making personal purchases with my business accounts which I would like …
    Michael Voccola 2.6K views 29 comments Most recent by alexlewiszarkos February 27, 2019 8:31PM
  • Hi Folks, I lead an IT Department and each year operate within a fixed budget. I'd like to do some further analysis on my expenditures and to be able to see over time how my actual expenses are comparing to the budget. I'm wondering if anyone has thoughts on whether Wave would work well for this purpose and if so how I should configure it? M…
    davidshq 1.1K views 18 comments Most recent by alexlewiszarkos February 27, 2019 8:20PM
  • Hi there, How does one end your financial year and start the new financial year. In my case my financial year ended 28 Feb and the new one started 1st March. Does wave close the books?
    Diverse 1.2K views 10 comments Most recent by alexlewiszarkos February 27, 2019 6:22PM
  • We are in the very early stages of a startup and many purchases are for plant assets, equipment etc. Is there a way to record asset purchases in the correct category with the app? So far I only see expense catagory's listed...
    That_Guy 19 views 1 comment Most recent by Zoe_caff February 26, 2019 5:31PM
  • Landlord here looking for the appropriate way to records security deposits that are held in escrow. According to accounting standard the receipt of a security deposit should increase a cash asset account (no impact on income) and increase a liability account. When this transaction imports from my bank I do not have the option to categorize it as…
    shaneg 516 views 17 comments Most recent by Headroom February 26, 2019 4:02PM
  • The list of transaction categories for filing is very limited. I need one for legal, and there is nowhere to add one.
    ShoshanaB 27 views 4 comments Most recent by Zoe_caff February 25, 2019 4:48PM
  • I know there is a way to make the accounts unusable, by checking the box, but I would like the extraneous accounts I created while messing around with this program, to go away, now that I understand more what I am doing and have seen that I created more than was practical. I see a lot on how to add them and etc. but I am not finding how to delete…
    Star044 183 views 7 comments Most recent by Zoe_caff February 25, 2019 4:41PM