Accounting

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  • Hi, I have a LLC that i use to manages rental properties and some other investments like Peer loans, etc. They all happen via the same LLC. This LLC is now on Wave. I am newbie (I did try to read the posts already here but still struggling with various concepts). I have a few questions I'd really appreciate help with. For a rental propert…
    vishalsood 90 views 1 comment Most recent by JamieD March 13, 2019 5:16PM
  • Firstly, I love this feature! Making life a lot easier I think there might be a bug where it doesn't pick up similar transactions with stars in the transaction ID? I'm struggling to get it to pick up similar transactions by apple pay, which seems to always have stars in the description from my bank, or contactless payments. But other transactio…
    JonGrilli 39 views 3 comments Most recent by tthavendran March 12, 2019 7:00PM
  • cpocpo
    I am new to wave, and I don't even know enough to know how to search for what I am trying to do. Right now, I was just planning to set up wave to track expenses and income associated with training that I provide. Here's the basic rundown: * I put on a training course with 10 students. * I already received cash payment for the training from e…
    cpo 19 views 2 comments Most recent by Zoe_caff March 12, 2019 5:58PM
  • Not sure how to enter a car loan repayment as the funds were not deposited into my account as described in the "how to account for a loan" section
    Ajay 231 views 6 comments Most recent by alderman March 11, 2019 8:39PM
  • On my dashboard there is a cool graph that shows me my monthly income vs expenses and I currently manually input all invoices into a spreadsheet to compare monthly incomes and I was wondering if there was a way to export all my invoices to a csv file or something to help speed up this process?
    Shayne 87 views 3 comments Most recent by Zoe_caff March 11, 2019 7:05PM
  • 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 78 views 2 comments Most recent by GeneSVB March 11, 2019 7:14AM
  • 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 21 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 9 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 27 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 8 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 33 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 11 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 49 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 580 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 18 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 22 views 3 comments Most recent by Ryan_W March 6, 2019 10:04PM
  • 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 22 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 14 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 72 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 16 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 12 views 2 comments Most recent by JorgeG March 3, 2019 7:28PM
  • Do you have a french version of your application?
    cdesbiens 847 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 13 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 34 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 597 views 7 comments Most recent by yogesh March 1, 2019 11:35AM
  • 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 1.4K 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 1.5K 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 22 views 1 comment Most recent by Zoe_caff February 26, 2019 5:31PM
  • The list of transaction categories for filing is very limited. I need one for legal, and there is nowhere to add one.
    ShoshanaB 29 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 318 views 7 comments Most recent by Zoe_caff February 25, 2019 4:41PM