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Discussion List
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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…
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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…
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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 $1000 CAD is still in my CAD bank. CAD/USD exchange is now 0.95. Will t…
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I have just completed my year-long Wave experiment and I am (truly) very sad to say I've just ponied up the coin to buy the newest version of QB desktop. :disappointed: Wave is a wonderful platform that I really like, so I would be remiss to not explain myself. The bottomline for me is reporting capabilities. I need to be able to drill down, de…
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Hello, Is there a way to record transaction in 2 currencies at the same time, using an exchange rate of our choice? (not the one used by xe.com) so for example, let's say i bought a tshirt for 10$. 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…
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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?
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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.
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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?
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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…
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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
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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…
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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?
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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 0 points Most recent by investment_company August 22, 2020 10:08PM
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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!
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With our world impacted by the spread of the coronavirus, we've all had to adapt to change. We're looking to our community of small business owners to find those who have completely pivoted or in some way reimagined their business model in response to COVID-19. Whether you're consulting other entrepreneurs on navigating through these tough times, …
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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…
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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!" …
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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?
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Greeting to all Thanks for wave team is doing best, Actually I'm two days ago trying to apply to wavemoney.com but I can find in web search If someone can tell me how I can apply for wave money Account I have seen in promotion my dashboard account but I can't I registered or apply I can only read more the https://www.waveapps.com/money Someon…
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I had been experiencing problems with the old banking integration system with Santander bank in late 2018. I just got the notice that my account has been updated and that I needed to reconnect my Santander bank account. Upon trying to do so, though, it looks like only PERSONAL Santander accounts are supported. Business banking requires a differ…
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It’s been 7 days since the customer has paid his bill. I haven’t received any payment yet. How long should it take? He used a bank payment.
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We purchased a property for retail space. Included in the "amounts paid by/for borrower" is a portion of the annual property taxes. These taxes are listed as adjustments for items unpaid by the seller on the closing Settlement Statement. They did not come out of the downpayment and we did not write a separate check, so there is no acc…
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Why my wave account cannot to click Products that i sell. This is the first time happen. Please help
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I am doing accounting (but not an accountant) for a non profit that purchases prepaid gift cards at a 5% discount and sells them at face value. I want to keep this income separate from other income as all the profit goes to support a Children's Village in Madagascar. I have an asset account for Card Inventory, an income account for Card Sales, a…
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I added a bill for a payment to Home Depot for new appliances. It looks like I cannot add those appliances to my Property charge of accounts... only for expenses? So do I need to manually enter a journal transaction any time I buy something that needs to be capitalized?
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The more information that's being stored in this app, the more in slows down. Is there any way to export out old invoices and items so that I can save space on my current app
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I am able to print a customer statement but can anyone tell me how or where I can print a Vendor/Supplier Statement? In other words - a report that lists all the transactions relating to a Vendor for a selected date range showing opening and closing balance?
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WAVE, Develop your own bank connections first! The WaveApp's weakest and most annoying deficiency is bank imports. Capital One does not import, Hancock Bank, does not import, Chase is two-three days behind with the 'new' integrator. STOP and fix what features you have that are broken! Please. The bank connector company needs to add to their c…
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What is the correct accounting procedure for goods purchased for a client and charge a service fee? For example, I purchase $1000 worth of products for a client and I charge a fee for doing so. Say $200. The client must then pay me for the cost of the products plus my service fee.
