Accounting

Category List

 

Discussion List

  • 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 approac…
    Acumen3 118 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 11 views 2 comments Most recent by Wapperer April 8, 2019 12:40PM
  • As a sole proprietor, I have set up a solo 401(k) that I plan to contribute to both as employer and employee. I assume that I should record employee contributions as owner drawings, but I'm curious as to how I should record employer contributions. I see there has been some discussion of this in the past, but with recent updates to Wave's interface…
    Carrie_W 59 views 1 comment Most recent by Mikeg April 6, 2019 1:55AM
  • Hello. The VAT on sales invoice is showing on the sales tax report but the vat on purchase invoices isnt. I've checked the dates etc.. cant understand why the purchase vat is not getting picked up.
    discountfoot 31 views 2 comments Most recent by Samd April 5, 2019 3:00PM
  • How should I handle cash back rewards from the credit card I use for my business? The cash back reward gets automatically applied to my balance, reducing what I owe. I don't want to chart it as Income. Should I create a new chart of account in the Assets or Equity section specifically for the cash back reward? Any other suggestions?
    BernieB 275 views 5 comments Most recent by Carole April 4, 2019 2:47PM
  • AGKAGK
    I have a client that I bill in USD who does the exchange herself and pays me via paypal in CAD. I'm fine with it - but I'm not sure how to account for it. Any ideas?
    AGK 11 views 1 comment Most recent by Samd April 3, 2019 7:08PM
  • Hi. I have a loan account that I need to transfer into wave. I have set up a shareholder loan account (liability). There is no option to add an opening balance. If I do a journal it will inflate the expense account for the following year. It was not a cash balance. Any help please!
    graeort 42 views 1 comment Most recent by Mikeg April 3, 2019 3:45PM
  • 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 …
    brightstar123 94 views 3 comments Most recent by mcullison April 3, 2019 3:38PM
  • I understand I need to enter shareholder's loan to corporation via Journal transaction. However when doing that I get error Unbalanced. What do I do wrong?
    idealglasscreations 13 views 3 comments Most recent by MerlinAccounts_UK April 3, 2019 1:26PM
  • Many of my receipts might have multiple categories within a single receipt. I was surprised that I can't create multiple 'split' categories while editing a receipt. The only way I could seem to do that is to select a single category then go edit the transaction splitting it for the multiple categories. Would be nice if it could be done directly…
    sageacy 32 views 2 comments Most recent by Aug April 1, 2019 1:19AM
  • Hello. In the previous version of Wave you could check the current reported bank balance against the balance Wave calculated based on transactions. After the migration I believe it showed a way to do this quick check still, without having to do a full reconciliation - this was very useful to me. I have searched the forum and quick help guides, but…
    Jfirey2001 24 views 1 comment Most recent by JamieD March 29, 2019 6:25PM
  • NLMNLM
    Not sure what to do about this. How do I account for payments in PP that are partly covered by PayPal balance and the rest is covered by PayPal using money from my bank account? Im also getting confused with entering purchases and payments received. Is there anywhere I can choose where the money comes from or goes to? My sources of credits come …
    NLM 11 views 2 comments Most recent by NLM March 27, 2019 4:04PM
  • Hi everyone, I'm new to Wave after ditching Quickbooks. My accountant is very familiar with Quickbooks. I added my accountant as an editor on my account, and he was able to create a profile. However, he says he cannot see my data in the Reports area. Has anyone successfully collaborated with an Accountant and can give me some info about what an ad…
    emily_t 12 views 4 comments Most recent by AlexL March 26, 2019 3:20PM
  • A similar of the scenario is in the below post. https://community.waveapps.com/discussion/comment/15336#Comment_15336 My immediate thought is to have a separate section before the "Post to Accounting" button, and show related transactions from bank (of same amount, from same payment account) (Image) so that I can combine the following…
    jacksunwei 22 views 0 comments Started by jacksunwei March 25, 2019 6:41PM
  • I was just wondering where I would put a bank loan in the accounts? And for the monthly repayments too, where should I put that? The same thing for a grant given by the government. Thanks in advance!
    Kadthulas2004 34 views 5 comments Most recent by MerlinAccounts_UK March 25, 2019 1:04PM
  • Seems like my account is deactivated and maybe closed. Are all the funds going to be refunded or just released after a hold?
    Eddieek 21 views 3 comments Most recent by Samd March 22, 2019 4:39PM
  • I've been in business for almost 4 years and haven't used a single credit card. But now I'd like to get the cash back rewards on my business credit card. How do I go about transactions for a card? showing the expense and everything?
    trav2001 37 views 1 comment Most recent by Mikeg March 21, 2019 11:08PM
  • Hi, does anyone know if there is a way of archiving receipts? Or a way of searching 'done' receipts? Or a way of changing the order in which 'done' receipts are listed and so I could look through them either in alphabetical order or date order? The App has a search function but not all of my 'done' receipts have synced to the app, why is this, …
    Adam77 12 views 3 comments Most recent by Samd March 21, 2019 5:04PM
  • Hi, I've been using waveapps for a while now and seem to have the hang of most things but my accounting knowledge is not the best so hoping for some advice regarding the Cash Flow Report. I've been using the Cash Flow report to view my own and my business partners Investment / Drawings for specific periods. For a normal bank transaction with th…
    Michael_ 141 views 1 comment Most recent by JamieD March 20, 2019 9:38PM
  • Hi there, I am using Wave for expense reporting...meaning I would like to us the app to track all my receipts and expenses for a trip, then export to send to my company for reimbursement...needing to export the scans of the receipts, and the excel table to group expenses. My questions is: does the receipt export include every receipt that has eve…
    Stjohnson 623 views 7 comments Most recent by Joana March 20, 2019 5:46PM
  • Hi all, very new to Wave hope to get some help here. I'm trying to start off 2019 afresh, but for 2018, I already have some entries. How do I clear off the remaining balance from 2018? Do I have to delete all the invoices etc. from 2018 to start clean? Thank you very much.
    Beithoven 31 views 1 comment Most recent by Mikeg March 20, 2019 4:48PM
  • Hi Everyone I was using wave quite a bit but I have had a break for nearly a year. Previously I could upload a expenses receipt and attach it to the relevant bank transaction in the transactions window. Now I can't find a way to do it. how is it done now? thanks
    Santacari 11 views 1 comment Most recent by Samd March 20, 2019 4:38PM
  • Hi, can anyone help? My partner inputs our receipts via the Wave mobile app, so they then appear on the bank transactions as a duplicate transaction alongside the actual expense transaction from the bank! Wave have said that this should be rectified by ticking the two and merging, which works in that it takes the receipt transaction off the sheet,…
    LindaR58_ 21 views 3 comments Most recent by Ryan_W March 19, 2019 8:50PM
  • How would I go about accounting for my recent corporation tax payment as I tried to add another expense account and I am only given four options; Operating Expense, Cost of Goods Sold, Payment Processing Fee and Payroll Expense, all of which count as tax deductible expenses? What I need to account for is non tax deductible, however does count as a…
    JamesW 140 views 5 comments Most recent by Mikeg March 19, 2019 7:21PM
  • Does Wave supports 2 sided receipts?
    vmail 165 views 5 comments Most recent by Samd March 19, 2019 3:00PM
  • I'm just wondering if co-working space should be categorized as Rent Expense vs some other expense specifically for co-working space?
    Cameron 12 views 2 comments Most recent by ZoeC March 18, 2019 4:40PM
  • Hey guys, I just went through tons of accounting apps over the past couple weeks and finally found Wave. It's really great! Love the design. I just signed up and linked my accounts but I have no idea where to start when it comes to categorizing my expenses and reviewing the reports. What would you guys recommend for reading to get started with W…
    Cameron 61 views 1 comment Most recent by ZoeC March 18, 2019 3:51PM
  • Hi Folks, I'm new to all this, so please bear with my question. I have just closed on a house, and I'm wondering how to record the journal transaction for said closing. The house was paid for in cash, so I'm guessing this make things a bit easier. My main question is, as follows. The seller paid a pro-rated amount of the property taxes that were…
    Shizzle5985 33 views 1 comment Most recent by Mikeg March 18, 2019 3:15PM
  • SriSri
    Last week we had a payroll transaction and amount was deducted from account. There was a mistake on payroll and bank reverted the money back to account. Now it is showing deducted amount as "Uncategorized Expense" and reverted money showing as "Sale". How to category them? I cannot put them as "Transfer" because both…
    Sri 21 views 1 comment Most recent by Ryan_W March 15, 2019 10:26PM
  • I’m just a New you, but I can’ find a way to print checks or deposit receipts in Wave. Have I just missed something?
    DrWhit_1 21 views 6 comments Most recent by JamieD March 15, 2019 4:42PM