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  • Hi all, Having a discussion with my accountant about how to adjust foreign currency exchange at end of fiscal year. The trial balance is correct but the reconciliation of the $US bank account is off by the exchange rate to $CAD. What is the proper way to acknowledge exchange fluctuation on invoices created and paid in $US but need to be reconci…
    lohm 4 views 0 comments Started by lohm December 2, 2020 9:52PM
  • created a liability account under customer prepayment, and while recording the transaction i have added the customer to the category(above created account), in spite of this, the transaction is not showed in the Customer Statement - Account Activity, for the respective customer.
    Mrgst 1 view 3 comments Most recent by JulianP December 2, 2020 5:31PM
  • Can someone please confirm how Wavep Payments work - If some don't have a registered company in the USA then we cant use Wave payments?
    sagarkumar9 2 views 0 comments Started by sagarkumar9 November 27, 2020 9:24AM
  • MBKMBK
    Evening. We are currently running an alternative financial services company and have signed up to use wave apps for accounting purposes. I need guidance on 1. Is wave apps suitable for use with this type of business 2. Not really sure how we will account for loan transactions, loan repayments etc on the solution. Looking forward to your input …
    MBK 3 views 0 comments Started by MBK November 26, 2020 7:52PM
  • Hi there, An old chestnut here but one that is far more relevant now given that so much more products are being sent by courier or post. Have wave given anymore thought to developing a delivery note function.
    Eoin 1 view 0 comments Started by Eoin November 22, 2020 4:33PM
  • How can I categorize a deposit transfer to one of my accounts from a bank account that cannot be linked to my Wave? The funds were transferred to me from an bank account which does not belong to me or my business, hence my inability to link it in Wave and represent it as the source from which the funds came from in the transfer. The funds transfer…
    BV00 1 view 3 comments Most recent by Barsin November 18, 2020 10:52PM
  • GC3GC3
    My last transaction of $11,000 is now on hold and I have no insight into when I can access this money. This never happened before. How can I find out what is going on?
    GC3 1 view 0 comments Started by GC3 November 17, 2020 10:55PM
  • I'm looking to open a small business checking account for a business I'm starting. Which banks integrate best with Wave? Anyone have experience with Novo, Aslo, BlueVine or Radius Bank? I don't plan on much cash usage so would prefer to be 100% digital and online. Thanks in advance for any recommendations.
    ToddB 33 views 3 comments Most recent by Barsin November 16, 2020 8:48PM
  • Hi. I have a stack of refunds and at least for a couple of them that are within 90days, the refund option isn't available? I find the refunding of sales enormously tiresome and pathetic in this app. I love it for everything else, but its so asinine in its design. Also asking random strangers to access my acocunt to issue refunds form greater tha…
    CaineD 4 views 1 comment Most recent by AlexL November 6, 2020 8:26PM
  • Is it possible to reorder items in the estimate just like you can on the invoice form? this would be very helpful since we are generating a service estimate and need to modify the order several times.
    Magic 1 view 1 comment Most recent by Barsin November 6, 2020 7:41PM
  • In this scenario, there are 3 companies: 1. Manufacturer 2. Agent 3. End user/final payer Manufacturer is not licenced to sell in the end user's geography, so bills End User through Agent (which holds appropriate licence to sell). Example: * End user invoiced $100 by agent * End User pays $100 to Agent, for which the Agent earns $30 commission * …
    GeoffW 2 views 1 comment Most recent by AlexL November 6, 2020 5:25PM
  • Help! I've searched everywhere and tried numerous things, to no avail. Hoping there is a simple solution. I have real estate agents who are both customers (they receive a monthly bill) and vendors (we pay commissions). Sometimes I need to retain part of their commission to pay their outstanding invoices. However, on their 1099 I need the numbe…
    LaDonna 11 views 1 comment Most recent by JulianP October 29, 2020 4:32PM
  • I just received a cc payment from a client of 44700. after fees. Only $2800 is available for instant payout. Is there a limit on the instant payout availability?
    Sharon_gardens2 3 views 1 comment Most recent by JulianP October 26, 2020 4:41PM
  • I have a concern regarding completing transfers to and and from accounts that are not, and cannot be linked to my Wave account. I periodically transfer funds from one of my bank accounts to someone else's account. However, in Wave, due to the fact that such an external bank account does not belong to me, and therefore cannot be linked to my Wave a…
    BV00 1 view 4 comments Most recent by BV00 October 21, 2020 9:00PM
  • I convert my monthly amazon ca sales to USD using the monthly CAD/USD avg exchange and enter this value in my Amazon ca holding account (asset). This is to account for my cash balance held in Amazon. Waveapps converts foreign currency to USD based on the transactions day spot rate. When Amazon ca deposits funds to my CAD bank I treat it as a tra…
    dontworryaboutit 1 view 1 comment Most recent by Barsin October 7, 2020 4:17PM
  • How often does waveapps convert foreign currency value to my home currency on the balance sheet? Example. My home currency is USD. I recieve $1000 CAD to my CAD bank in Jan 2020 and the balance sheet shows $750 USD (CAD/USD exchange that day was 0.75). Now its Dec 2020. The $1000 CAD is still in my CAD bank. CAD/USD exchange is now 0.95. Will t…
    dontworryaboutit 1 view 1 comment Most recent by Barsin October 7, 2020 4:07PM
  • Hello, Is there a way to record transaction in 2 currencies at the same time, using an exchange rate of our choice? (not the one used by xe.com) so for example, let's say i bought a tshirt for 10$. Exchangee rate on xe would say the conversion to LBP would be 15,000 LBP although, in real life due to rapid inflation in Lebanon, i actually paid 50…
    ralphhaiby 1 view 1 comment Most recent by JulianP September 28, 2020 7:19PM
  • I picked a used camera to use for our studio. How do I expense it as there is no receipt or vendor. Also, should I put it as an expense or a capital asset as it is a pricey camera. And finally, how do I set up depreciation for it- maybe at 3% per month?
    ajaffarali 1 view 1 comment Most recent by JulianP September 28, 2020 3:19PM
  • Is this a new intentional change or a bug? I hope its a bug. I highly rely on this info to be front and center multiple times a day and having to dig for this and instead having "things you can do" front and center which I will probably never use, is just a huge step backwards for this application.
    Ayoung72 225 views 30 comments Most recent by AlexL September 28, 2020 3:13PM
  • I picked a used camera to use for our studio. How do I expense it as there is no receipt or vendor. Also, should I put it as an expense or a capital asset as it is a pricey camera. And finally, how do I set up depreciation for it- maybe at 3% per month?
    ajaffarali 1 view 0 comments Started by ajaffarali September 19, 2020 4:17PM
  • Hi Team , Refer to the above I use waveapps to help Entrepreneurs to prepare their financial report . We use the reporting that is available to send it to the auditor for audit purpose . When we run the report one of the issue was the Account Transactions which previously had transactions but no transactions in the current year the report does n…
    faridah 35 views 3 comments Most recent by Barsin September 14, 2020 6:53PM
  • Dear team, with this 31st August deadline, how do I know whether my account was automatically updated or not. Your response would help a lot Thank you
    EBITS 1 view 2 comments Most recent by EBITS August 31, 2020 9:51PM
  • I just started this cleaning business and I have a lot of questions. Before I ever got my first payment and before I even had a business account. I was paying everything out of pocket. I am sole-proprietor and its just me. So my first question is how to accurately enter this into accounting and can I pay myself back? I unders…
    Martha_Melissa86 11 views 1 comment Most recent by KarlAviu August 28, 2020 5:07PM
  • Hello, I created USD account because USD is kept on that account. After I entried some transactions the SUM at the bottom shows I have now 600+USD, but only 500+CAD. Look here: IS there some way to fix this?
    WaveWaveWave 11 views 6 comments Most recent by Barsin August 24, 2020 4:47PM
  • Hello, I am new to wave, and new to business. I have an llc, how can I report property tax that I pay monthly? What Accounts or Categories do I need to create? I read that it’s prepaid and I have to do additional entries. But I am actually making payments to the county. they may or may not be prepaid with them, but for me they are deducted from my…
    investment_company 2 views 2 comments Most recent by investment_company August 22, 2020 10:08PM
  • Is there a way to customize the P&L report to only reflect one of my accounts? I have not been able to do so. Kind of important so any input would be greatly appreciated! Thank you!
    Pattid4621 143 views 4 comments Most recent by iSolveIT August 19, 2020 3:36PM
  • My Wave account is linked to my bank account, yet I'm getting discrepancies with the following 3 items, 1. Total Income, 2. Wages, and Payroll Taxes, Each is off by over 20%. Income is understated, while Taxes and Wages are overstated. As a result, I'm showing a net less which is fairly close to my net profit when compared to my bank transactio…
    DanV 11 views 1 comment Most recent by ConnorM July 9, 2020 6:46PM
  • I'm just assessing which invoicing system to use and Wave keeps losing points as I test it, find something missing / a nuisance and then see that other people have requested the same feature a long time ago and nothing has changed - apart from admin adding another post saying, "thanks for your feedback, we might implement that one day!" …
    Dasham 21 views 1 comment Most recent by IloD July 7, 2020 11:43PM
  • I know about the account where customer makes pre payments but how do I apply those payments that have already been paid in advance to the invoice?
    Nateo 31 views 4 comments Most recent by ConnorM July 7, 2020 5:24PM