Accounting

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  • My home currency is GBP. I had $422.87 in a "Cash - USD" account. I exchanged the whole $422.87 and got £304.28. . I entered a transfer of $422.87 from the "Cash - USD account" into my "Cash on hand" account. The "Cash-USD" account showed a balance of $0.00 which is correct but also a balance of -£38.49. How…
    philip456 22 views 1 comment Most recent by ZoeC April 22, 2019 7:30PM
  • hOW WOULD YOU REFLECT SALARIES IN US DOLLARS
    barbarabritto 12 views 3 comments Most recent by ZoeC April 22, 2019 6:34PM
  • Has anyone figured out how to print journal entries/transactions from Wave. Any accounting system has this basic functionality for record-keeping but I can't seem to find out how to do this in this application!! Any help appreciated.
    AccountantRF 152 views 3 comments Most recent by Charlotte April 22, 2019 2:52PM
  • I apologize if this has been addressed elsewhere. I'm new to accounting (academic starting up a side business) and new to wave. This might be more of an accounting question actually: what would be the best way to account for assets that a partner has contributed? Eg at the start of our business, I bought a bunch of ropes and climbing gear. This wa…
    nltc 21 views 2 comments Most recent by Charlotte April 22, 2019 2:09PM
  • I'm fairly new to accounting so please don't shoot from the hip! Long story short: * I started a small business recently; * I made several (lots) of personal purchases on my own credit card or own bank account (with invoices showing my name and not the company's) for the company, i.e. currently I own them but I want to them transferred to the com…
    alexr 31 views 9 comments Most recent by Mikeg April 22, 2019 12:11PM
  • And the category is a REFUND for whatever category the transaction was. IE Refund for Inv_Yarn etc. I have to go in to EVERY SINGLE transaction and change it. I *feel like it happened with some update. I'm looking for a BULK way to edit them all 'backwards.' Has this happened to anyone else? Dana
    craftygirl 22 views 3 comments Most recent by craftygirl April 22, 2019 2:55AM
  • Hi. I have a number of aliases for my main email address e.g. "[email protected]", "[email protected]" etc. I have successfully added and verified my main email address and one of the aliases ([email protected]), however, I am not receiving the verification email for another of the aliases ([email protected]). It is not a problem with junk/spam filtering. Any advi…
    MartynB 312 views 13 comments Most recent by ZoeC April 19, 2019 8:08PM
  • 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 166 views 3 comments Most recent by James_Hudson April 19, 2019 5:12PM
  • 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&qu…
    HCS 21 views 4 comments Most recent by Mikeg April 19, 2019 3:37AM
  • 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 23 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 93 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 va…
    Convincent 24 views 2 comments Most recent by JamieD April 17, 2019 4:54PM
  • 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 21 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 856 views 3 comments Most recent by AlexL 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 650 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 221 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 112 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 34 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 genera…
    Juggler 13 views 1 comment Most recent by JamieD April 12, 2019 11:58PM
  • 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. (Image)
    essam 53 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…
    TimK 23 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 269 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 11 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 451 views 4 comments Most recent by MerlinAccounts_UK April 12, 2019 9:55AM
  • 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 account
    HOSPM 13 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 monthly pa…
    DShan 190 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 expla…
    wynnel 44 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 11 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 accepted com…
    joebloom 636 views 1 comment Most recent by AlexL 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? Lia…
    mikeldub 34 views 1 comment Most recent by AlexL April 8, 2019 9:18PM