Merge transactions

CharlotteCharlotte Administrator Posts: 552 admin

Uploaded a receipt and have your bank account connected? Marked an invoice paid and have the payment import from the bank as well? Duplicated income or expense transactions are now easier than ever to manage with the merge function.

Simply select two transactions that are both deposits or both withdrawals, with matching amounts and accounts and click the merge button highlighted in the above image.

Merged a duplicate but need to reference some details of the source transaction? Click 'View source transactions' when viewing the details of the merged transactions to pull up all the details:

What do you think of this feature? Has it been useful? Anything you think we can improve? Let us know below!

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Comments

  • ndjndj Member Posts: 2

    Wow, this is so useful. Let's me enter a transaction manually that I know is coming and when it shows up due to import I can just merge.

    Thanks!

  • EarlEarl Member Posts: 1

    Thank you very much for this feature! Now we dont need to delete bank transactions that match up with a receipt - awesome.

  • JustinAJustinA Administrator Posts: 16 admin

    @ndj @Earl Good to hear you're both finding merge useful! Thanks for the feedback.

  • prmsssprmsss Member Posts: 2

    Awesome :) I've been waiting for this - very useful icw bank transactions import!

  • mmckiviganmmckivigan Member Posts: 1

    If a check is recorded in a money in transit account, and then it comes through on the bank import it would have been nice to do this with a one click merge. When I try to merge it says it can't merge from two different accounts. So to get around this, I have to move the money in transit record to the same account then do the merge.

  • JustinAJustinA Administrator Posts: 16 admin

    @mmckivigan Thanks for the feedback! In this scenario you don't want to merge the transactions though. When the transaction comes in via the bank import you should be categorizing it as a transfer from the money in transit account.

    This will ensure the income/expense is correctly bookkept on the day you logged the check in the money in transit account, and your balance sheet correctly reflects both the balance of the money in transit, and the account the check was deposited in or withdrawn from.

  • ABKABK Member Posts: 1

    "When the transaction comes in via the bank import you should be categorizing it as a transfer from the money in transit account."
    YES. This is EXACTLY what I have been searching tutorials to figure out. To be clear, 1) I have a $200 check received (from an invoice payment) line item with "money in transit" account 2) And then now bank imports line item for the $200 check with 'ABC Checking Acct' as the account

    So...HOW to do what I just quoted??
    3) "Categorize IT as a transfer" referring to EDITING the bank import transaction to make it a transfer somehow? Or "Categorize it as a transfer" by adding a third transaction--a "Created Transfer" ? (I saw instructions on "created transfer" somewhere amidst all my confusion)
    Thanks in advance!

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Hi, @ABK.

    If you categorize the $200 transaction from your bank connection as "Transfer from Money in Transit" and choose your Money in Transit account, Wave will automatically create the other side of that transfer. So if categorize that transaction as a transfer, Wave will create a matching $200 expense to Money in Transit and categorize it as "Transfer to Bank Account".

  • StephanieZStephanieZ Member Posts: 1

    Does the receipt image show up on the transactions page after I merge? Or do I still have to go back to the purchases --> receipts page to see the image? THank you!

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Hi, @StephanieZ,

    The image of the receipt doesn't currently appear on the Transactions page regardless of whether the transaction was merged. You will see a mention of the receipt on top of the "Edit transaction" frame, but for the time being, there's no direct link between the transaction on the Transactions page and the image of the receipt.

    While I can't guarantee this will be added to Wave, it is something we've been asked for often, and we are aware of the demand for more of a connection between receipts and their transactions.

  • AprilSukAprilSuk Member Posts: 1

    Oh wow, when I looked up 'duplicate transactions' in the help center it told me to delete one, which was a huge hassle to do over and over again. I am so glad I searched again in here and see now you can merge them! Thank you! (You may want to have someone edit your help pages though).
    https://support.waveapps.com/hc/en-us/articles/115002894323-How-to-ensure-receipt-expenses-are-not-duplicated

  • JustinAJustinA Administrator Posts: 16 admin

    @AprilSuk Thanks for flagging that article! I'll have someone update it. And glad to hear you're finding the duplicate function useful!

  • KopupKopup Member Posts: 5

    @Alexia said:
    Hi, @StephanieZ,

    The image of the receipt doesn't currently appear on the Transactions page regardless of whether the transaction was merged. You will see a mention of the receipt on top of the "Edit transaction" frame, but for the time being, there's no direct link between the transaction on the Transactions page and the image of the receipt.

    While I can't guarantee this will be added to Wave, it is something we've been asked for often, and we are aware of the demand for more of a connection between receipts and their transactions.

    One of my accounts still has an old interface, where I can also merge the receipt record and payment record, and the receipt image can be viewed directly. I don't know why this new interface removed this functionality, which I found it's super useful.
    (without the link to the image of the receipt, I found the value of keep receipt or even upload it, reduced a lot)
    I would really appreciate if you can bring the function back. thanks!

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Hi, @Kopup,

    It's absolutely fair for you to expect this feature after having used it in the old version. This feature wasn't as much removed from Wave as it simply hasn't been rebuilt for the new version.

    With that said, I can tell you that we are aware of the demand for this feature to return and that we are listening to your feedback.

  • rwall88rwall88 Member Posts: 9

    +1 Please add that link between the receipt picture and the transaction in the transaction screen.

  • rwall88rwall88 Member Posts: 9

    Is there a way to search for duplicate transactions? We have added several receipts and they automatically created duplicate transactions. I know I can merge now them but I have to find them first.

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Hi, @rwall88,

    No, there is no way to automatically detect them, but regular reconciliation can make it easier. If you bring up the transactions for a specific account on the Transactions page, you should be able to easily see the transactions with the same dates and amounts that should be merged.

    Once you've verified a transaction, make sure to check the "Verified" checkmark to its right. You'll be able to filter it out in the future, which can make reconciliation much easier later.

  • KristinKristin Member Posts: 1

    Is there a feature where the software automatically detects and alerts us of possible duplicated transactions?

  • Katie_SilkinaKatie_Silkina Administrator Posts: 35 admin

    @Kristin not at this time, but more and better automation of transaction management is definitely something on Wave's radar. We're excited to move forward the R&D in this space. If you have any additional business information to share that will help us build the right solution for you - please don't hesitate to post.

  • RJSparksRJSparks Member Posts: 1

    I'm new to Wave and I just received my first credit card payment via Wave. The payment that Wave recorded and the bank imported payment are doubling my income. I selected both transactions to merge them and the button was not enabled to click. How do I resolve the double income entries?

  • MorayfieldMorayfield Member Posts: 16

    Hope the auto match feature would come soon, or if the auto match/auto merge feature is not sucessful, just let the user click a button and pick a 'similar' transaction from the bank feed.
    This will be a lot easier and cleaner way to manage the receipts.

  • iltilt Member Posts: 2

    I'm using the new interface on the transactions page for the first time and can't find how to merge a receipt with part of a split transaction. This used to be possible, but I can't see how to just select a component of a split transaction. Thanks in advance for your help.

  • Katie_SilkinaKatie_Silkina Administrator Posts: 35 admin

    @RJSparks take a look at the following article: https://support.waveapps.com/hc/en-us/articles/115004964423-Bookkeeping-changes-to-Payments-by-Wave if your customer paid you with their credit card directly through Wave, the bookkeeping would've been taken care of for you automatically. If something has duplicated due to this process please feel free to submit a bug ticket to our team <here>.

    @Morayfield great suggestion! Thanks for sharing.

    @ilt I'm afraid it's not possible to merge to part of a split transaction. I would recommend separating the split into a separate transaction or removing that amount from the original item if your receipt transaction already exists.

  • PolsteadPolstead Member Posts: 11

    +1 for Receipt functionality in Accounting -> Transactions. To be honest there is little to no value in entering receipts if they are not accessible from the merged bank transaction.

  • iltilt Member Posts: 2

    @Katie Silkina Thanks for the work-around. It would be good if the ability to merge a receipt to a part of a split transaction could be reinstated. As I understand from your explanation of the benefits of the new split functionality, it's to help keep split transactions grouped together so it mirrors your bank statement. Unfortunately, making a separate transaction completely removes this link, and its origin will have to be added manually as a note, whereas before it was always automatically shown. Thanks anyway for always trying to improve Wave.

  • PolsteadPolstead Member Posts: 11

    We could merge receipts with accounting transactions in the previous version so not sure this is a new feature. One problem however is that previous merged receipt/payment transactions are not showing the 'View source transactions' link so you can't get to the receipt from the Accounting -> Transactions screen.

  • SamdSamd Administrator Posts: 154 admin

    Hey @Polstead! This is something our Team is aware of and working on getting fixed, and thank you for the feedback!

  • PolsteadPolstead Member Posts: 11

    Thanks @Samd! Just to again say that without the ability to get to the associated receipt from a bank transaction the Receipts system is pretty much of minimal value - so really looking forward to having this functionality again.

  • BretsterBretster Member Posts: 1

    I have two invoices for the same customer but the customer made one bank deposit for both invoices, is there anyway to merge these transactions or what the best way to do it?

    Cheers

    edited November 21, 2018
  • Ryan_WRyan_W Administrator Posts: 94 admin

    @Polstead not sure if you saw my response to you before, but I wanted to confirm for you that we've restored the link between receipts and corresponding bank transactions!

    Meanwhile, @Bretster there's a way to manage this! In the Transactions page, click on the bulk bank deposit. You'll see the option to "Split this deposit". Then, you can break the total down into the amounts for each invoice, categorizing each split amount as Payments to (relevant invoice) in Wave. This article from our Help Center covers it in greater detail: https://support.waveapps.com/hc/en-us/articles/115004964203-Improvements-to-transaction-splitting

    Hope that helps!

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