Using Wave

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Discussion List

  • Hi I received a message from Wave saying that I needed to fix my accounts as I have tax amounts added to my liability accounts. I created a separate Liability account instead of using Wave's Bill format for each of my suppliers - and I track all invoices, receipts and payments against that account. Vat is added to all those transactions. So if I…
    CamJustCam 4 views 0 comments Started by CamJustCam September 22, 2020 11:24AM
  • I have read the help sheet on recording capital assets and depreciation too. It doesn't tell me how I keep track of a specific asset when depreciating. Your dcumentation talks only of a general depreciation account with no reference to the asset it refers to. I understand this is so as not to undervalue the value of assets that a business owns bu…
    patbell102 11 views 2 comments Most recent by EnriqueFavaro September 21, 2020 8:24AM
  • Noticed a required field under Employee Tax Details - "NRA Exemption Amount" What is expected to be added in this field?Does this apply for Employees who are US Citizens?
    olllllllo 13 views 1 comment Most recent by Mikeg September 18, 2020 11:50PM
  • We have a S Corp with a single employee. For Employee 401K Contribution - A "Deduct from Pay" for 401k contribution was added under Benefits and Deductions. The employee contribution for 401k is shown in Payroll (done by wave). Then when the actual transaction to take out the 401k employee contribution comes in, it is categorized as payr…
    olllllllo 6 views 1 comment Most recent by Mikeg September 18, 2020 11:48PM
  • I am not entering individual invoices or receipts. All I am entering is deposits and payments made. How do I record a payment made to pay sales tax to the government? When I try to record it in transactions and use the Sales Tax payable to Government in the COA dropdown it arrows over to where there should be more options but there are no optio…
    DeeAnn 7 views 0 comments Started by DeeAnn September 18, 2020 1:36AM
  • I am not entering individual invoices or receipts. All I am entering is deposits and payments made. How do I record a payment made to pay sales tax to the government? When I try to record it in transactions and use the Sales Tax payable to Government in the COA dropdown it arrows over to where there should be more options but there are no optio…
    DeeAnn 4 views 0 comments Started by DeeAnn September 18, 2020 1:35AM
  • I have thrown out all my bank accounts. And open new accounts with TransferWise! I am also using Stripe for my online payments. And payments with cards directly. SO my question is how do I set this up in the best way in Wave? This is how I had it setup before. Cash (USD) Cash (EUR) Cash (PHP) HSBC Bank (USD) HSBC Bank (EUR) HSBC Bank (PHP) All …
    Jesper666 18 views 3 comments Most recent by Jesper666 September 17, 2020 10:33PM
  • Hi Everyone. I'm a web developer and I'm using Wave to bill my customers. I charge a flat hourly rate for different products but I update the product description on each item to tell my customer what I did for them. Currently I have 100+ items with the same title but different descriptions. Can I just have a single item and change the descript…
    MattS 6 views 1 comment Most recent by Barsin September 17, 2020 9:29PM
  • Hi everyone, I have a quick question about the difference between Cash on Hand and Owner Investment/Drawings. I started working as an independent consultant and very recently started to use Wave to track my billing. I am also very new to accounting. When recording the payment for the invoice, does the payment go under cash on hand or owner invest…
    missingcow 19 views 1 comment Most recent by CallieP September 9, 2020 2:19PM
  • Hello When I receive a manual check payment against an invoice, it credits my bank account. Then, when I synchronize my bank account, it shows the same credit from when I deposited the check. What is the best practice to handle this duplicate transaction?
    threehorn 23 views 6 comments Most recent by CallieP September 8, 2020 6:32PM
  • I started using wave for my photography business about 2 years ago. This year my husband made another account for me for my craft business as well. How do i link these 2 accounts on my one profile
    AntheaLR 10 views 2 comments Most recent by AntheaLR September 8, 2020 7:28AM
  • Is it with everyone globally or only in Pakistan? @CallieP @Barsin @ConnorM @AlexL @EmmaP @Charlotte
    mhammadlatifACCA 4 views 5 comments Most recent by AlexL September 4, 2020 3:33PM
  • Hi, I am a freelancer that gets paid as both a 1099 and W2. When I get paid under a W2 the company will withhold taxes for me. My CPA got a little confused on how I had categorized my W2's. She associates invoice payments as 1099, which makes sense. I was creating invoices for my W2 jobs but this caused a lot of confusion when it came time to file…
    Ryder 10 views 4 comments Most recent by Mikeg September 2, 2020 3:48PM
  • In Germany, we write cents after a comma. Example €370,76 but Waves gives me €370.76 no matter what I do. How can I change it? Otherwise, germans can not use this great software at all. I'm not a german but my small freelance business in Germany and there are many freelancers here. Please help. I have done a few invoices and then I noticed this pr…
    Nimantha 26 views 5 comments Most recent by Nimantha September 1, 2020 1:44PM
  • How do I remove my personal transactions (income and expenses) from the business reporting? For example the P&L
    MarkB 15 views 0 comments Started by MarkB August 28, 2020 11:20PM
  • How can I edit the Total Amount in an Income transaction that I split between several income categories?
    MikeCInIdaho 8 views 1 comment Most recent by ConnorM August 18, 2020 3:05PM
  • Can someone please tell me how to split a payment between 2 payment accounts? e.g. purchasing an item using 2 different accounts. I see no way to do this other than by a JE or entering a piece in one account, and the other piece in the 2nd account. Is it possible to do this in one transaction? Thanks, Denise
    fischerdf 12 views 1 comment Most recent by CallieP August 14, 2020 4:30PM
  • Hi, I'm new and confused. I'm an online seller and I don't have inventory. I created invoices and recorded payment and I got the Profit & Loss report. However I don't know how to get the actual net profit as the total payment recorded is not subtracted with COGS. As far as I know COGS is when you have inventory but I don't as my customer buys …
    EdaRosly 12 views 1 comment Most recent by CallieP August 14, 2020 2:40PM
  • when i receive a payment How can i make Payment Voucher in Wave
    Rebrandsign 17 views 1 comment Most recent by CallieP August 14, 2020 1:56PM
  • I often hire some freelancers from fiverr to assist on a project and they are located in Canada and Europe. I am based in the US. What is the correct way to categorize these transactions? Should I make a bill every time I send over a payment or just categorize it as services expenses? Do I need to create a report at the end of the year for my tax …
    Alex_V2 19 views 2 comments Most recent by CallieP August 13, 2020 4:03PM
  • Hello, is it possible to work on all models of Wave? I mean, is it possible to work on the accounting, invoicing and receipts and integrating all together so each transacion affect the other modules? One more question, is wave software support barcodes/ barcoding? for inventory and invoicing? Many thanks
    Hesham 12 views 1 comment Most recent by AlexL August 12, 2020 8:46PM
  • I am currently using Quicknooks 2013.. Can the Company data that I have entered be imported into Wave.
    papadave8 12 views 1 comment Most recent by AlexL August 10, 2020 6:10PM
  • Hello everyone, I am new here. I have been using Wave for a couple of months now. I need help with adding Liability. I took a loan from someone. I do not know how to add full amount of the loan. It is necessary that I know how much loan i have paid and how much is left to paid. I created an account for that but I am not able to add full loan amo…
    Dawood 11 views 1 comment Most recent by Mikeg August 8, 2020 11:31AM
  • Hi, I’m new to the waveapps and still learning how to use it. I can add a new liability account and assign expenses against it. But I’m specifically interested in adding a liability account for, let’s say, a bank loan of $50k and assigning an interest of, say, $250 and principle of $1,000. These amounts could change every month. So ideally, …
    Smsf 18 views 1 comment Most recent by CallieP August 7, 2020 5:35PM
  • new to wave and setting up new business account. Have following questions, would appreciate any help: * How I can export detailed expense transactions along with Categories? * Which report I should use to see expenses (category and all transactions within the category)? * How funds transfer between same business account are handled? (as these are…
    ADDS 15 views 1 comment Most recent by Mikeg July 24, 2020 8:29PM
  • I'm looking for Wave guidance around the following two receipt scenarios. Practically speaking, these seem to me to be relatively common situations, but I haven't been able to find any conclusive guidance on how this can or should be accomplished: One Transaction, - Multiple Receipts: For example, you generally get two pieces of paper. The bill s…
    DaveB 267 views 7 comments Most recent by kennyCKPL July 23, 2020 9:59AM
  • I transferred money from one payment account to another within Wave. I manually entered that transaction. A day or two later, when Wave sync'd with my bank, Wave downloaded the transaction. (For some reason, it downloaded the transaction moving $$ out of an account but didn't download the transaction moving $$ into the other account, but that's no…
    KJIsaacson 15 views 3 comments Most recent by CallieP July 22, 2020 6:31PM
  • How do I change the format of my prices in the invoice. Currently it only allows for round figures, however, my prices are not round figures ie 1234,56. Currently only allowing me to add 123456,00
    Liz_Cot1 10 views 2 comments Most recent by Liz_Cot1 July 21, 2020 7:28AM
  • Hi all, I have a frustrating problem and hopefully, someone out there can help me out. All my expenses for my business are inputted into Wave account by uploading bank statements, that have been downloaded from my online bank account. Once the statements are uploaded I then go through each individual entry and designate as an expense, or paid i…
    giftedmidfielder 18 views 2 comments Most recent by Mikeg July 21, 2020 12:22AM
  • Hello :) I get a 20% discount from my vendor. This allows me to charge my clients the recommended retail price while still marking it up with 20%. How do/can I add the discount to vendor products that I resell to clients? The client mustn't see the discount. I need to capture the supplier invoice, add line items to project number and/or client in…
    liezl 12 views 1 comment Most recent by Barsin July 15, 2020 8:25PM