reconciliation not working

haroldbradley_54haroldbradley_54 Member Posts: 1

I have been trying to reconcile the last month in Wave but every time I enter the bank amount for that month it sends it reports and doesn't do any reconciliation. Please help

Comments

  • Katie_SilkinaKatie_Silkina Guest, Unconfirmed, Applicant, Member, Administrator, Moderator, Employers Posts: 73 admin

    hey @haroldbradley_54 could you send along some screenshots where this process is breaking for you? Please provide any additional information as well, it will help us navigate you along this workflow. Thank you.

  • Liz_uk62Liz_uk62 Member Posts: 1

    I'm having the same problem as Harold - ie reconciliation not allowing me to put in bank balance just sending me directly to report. Many thanks

  • Ryan_WRyan_W Administrator Posts: 461 admin

    Hey @Liz_uk62,

    Would you be able to take some screenshots of what happens when you click on Accounting > Reconciliation, and the page you land on? If you're clicking the "Reconcile" tab directly next to the month you're reconciling, it should take you to the Account Transactions Report. Is this what you're seeing?

    If so, this is good! The Account Transactions report is what you need to compare your bank statement with your Wave transactions to make sure everything matches up. If this isn't what you're experiencing, please let me know!

  • jacquiwalljacquiwall Member Posts: 2

    I am also having issues with reconciling my accounts. On Friday, everything was working fine, however today, I have gone back in to continue and for some reason, all accounts are no longer reconciled back to May 2017. I have checked each off against the bank statements, and the figures are correct, start, end and all transactions, but it is not reconciled and I am not sure where to go next except cancel all transactions and start again.

  • JamieDJamieD Administrator Posts: 1,091 admin

    Hey @jacquiwall. I would be happy to do further investigating on this issue -- could you please send me a direct message with your email address and business name so I can take a look at exactly what's going on? Thanks again!

  • garyfehrgaryfehr Member Posts: 2

    I'm having a similar problem. My account was reconciled through Dec 2018 before the new version, now it shows Unreconciled for many of the months and when I click Reconcile it just takes me to a report for that period. username: garyfehr, email: [email protected]

    Update to post:
    I think I figured out the issue and maybe this will help others with the same problem. Really two issues.
    1. The new version does not like transactions with dates that don't match the bank statement. Often when I purchase something and scan the receipt in right away, it won't clear my bank until a few days later, which may cross over into the next bank statement period. In the old Wave this was not an issue somehow but now it is, the transaction has to reside in the same period as the bank statement or Wave will consider it a mismatch.

    1. Since the button says "Reconcile" for unreconciled months and "View" for reconciled, I expected Reconcile to bring up some sort of editor similar to Transactions where I could adjust amounts or dates of entries, whereas I expected View would just give me a report. But they both do exactly the same thing! When I finally realized that was the intention, despite the buttons having different labels, it made sense. So then I knew I had to go into Transactions to fix whatever was wrong. Having said that, it is a royal pain to have to leave off from Reconcile and manually bring up Transactions, filter by account and date range, and then uncheck everything and recheck everything to find out the offending transaction. Why can't Reconcile just bring up the correct range in Transactions instead of showing a report? Seems like we've taken a step backwards here on a great product.
    edited February 10, 2019
  • ErikErik Administrator Posts: 194 admin

    @garyfehr thanks for your helpful update! I'll bring up your feedback to the team here as something to look over when planning our feature roadmap, so thank you for offering it!

  • MCSMCS Member Posts: 3

    Seems like a lot of things aren’t working in your software. I’m am wasting a lot of time now going back and forth from transaction to reconcile.....and still even though all the transaction are there ....it still won’t reconcile..waste of life

  • MCSMCS Member Posts: 3


    Thinking this may be some of the problem....information is getting messed up.

  • Ryan_WRyan_W Administrator Posts: 461 admin

    Hey @MCS, would you be able to elaborate on what information is getting messed up in your Transactions page? All this shows me is that you have uncategorized transactions, although that shouldn't impact your ability to reconcile; double check that you're filtering for the right account when you're in the Reconciliation page and you should be able to review the relevant transactions directly.

  • ArthurMakArthurMak Member Posts: 3


    Apparently, the amount in reconciliation is not updating according to the transection. The first screen shot shows the balance in October is the same as September. However, in second Screen shot, I have actually upload a back statment to the same account. I have also try put transection in category and manually record a transection. None of them make the balance change in October.

    FYI, the transection in September is work. I uploaded bank statment csv and it affected the balance in reconciliation but not working in October.

  • AlexLAlexL Administrator Posts: 559 admin

    Hi @ArthurMak . Can you confirm that the account selected at the top of your Reconciliation page is OCBCSavings? The lack of categorizations shouldn't affect your Wave balance but manually recording transactions should. Let us know.

  • seamfaseamfa Member Posts: 2

    Very frustrating. I am in the same boat. I get 2017 to May 2019 reconciled, refresh the page and part of it is Unreconciled again.

  • JamieDJamieD Administrator Posts: 1,091 admin

    @seamfa It sounds like the reconciliation itself isn't actually saving which might be part of the problem here -- to confirm, you are looking at the same account when going through the reconciliation process as well right? Perhaps in this situation some browser troubleshooting would be beneficial for you as well (clearing your cached data/cookies). Let us know if it still persists, we may need collaborative access to test this on your account as well.

  • seamfaseamfa Member Posts: 2

    JamieD, actually it appears it was a bug either in the software or the system; they are all green, happy & reconciled! :)

  • GrittCommGrittComm Member Posts: 7

    I had the issue where I would reconcile, and then the account would be unreconciled. Now, I go to reconcile, and as someone said before, Wave doesn't like that transaction are not in that month. For example, my July statement lists June and July transactions. You have to manipulate the transaction and give it a false date so that Wave will reconcile.

  • MyronMyron Administrator Posts: 143 admin

    Hi @GrittComm , we understand that many people do not have bank statement cycles that end neatly at the end of the month. The reconciliation tool in Wave accounts for this by letting you adjust your statement end date. The statement end date can be edited by clicking the pencil icon next to the statement balance.

  • DebsDebs Member Posts: 1

    I have an issue with reconciliation. Normally I click on accounting then on reconciliation and the screen looks like the screen shot of GrittComm but today all that shows is 'Manually added accounts' and I can't get past it.

  • ChelseaKChelseaK Administrator Posts: 241 admin

    @Debs Yes, this is actually expected behaviour! Our Reconciliation feature has gone through quite a transformation and we've tweaked the way reconciliation works in Wave. Now, when you open up the reconciliation page, you'll see your manually added the accounts (the accounts that exist in your Accounting > Chart of Accounts). The feature has been upgraded to make reconciliation smoother and you can read more about the updates here: https://community.waveapps.com/discussion/5609/reconciliation-reimagined-️#latest

    Also, what's GrittComm? Haha hopefully that is not an embarrassing question!

  • LB2020LB2020 Member Posts: 4

    Hi there - I am trying to reconcile my bank account and for some reason, all my deposit transactions are showing up under "DEBIT" and all my debit transactions are showing up under "CREDIT". I checked my transactions to make sure I have it properly categorized (eg. under "deposit" and "withdrawal"). The transactions are correctly categorized. I last used the reconciliation feature around May of this year (2019) and was able to reconcile each month in 2018 without any issues. Why is the reconciliation feature now pulling my transactions backwards under "DEBIT" and "CREDIT"? Thank you kindly!

  • mommyof4grlzmommyof4grlz Member Posts: 9

    @LB2020 In accounting a debit is an addition to an account (left side) and a debit is a subtraction from an account (right side). This is because a debit either increases an asset or expense account or it decreases a revenue, liability or equity accounts. A credit is the opposite. A credit decreases an asset or expense account or it increases a revenue, liability or equity account. You are always working with 2 accounts one where the money is accounted from and one where it is accounted to. because you have to account for the same money in both accounts. so for example a $50 debit is a checking account is a $50 credit to an advertising account. you are removing the money from the checking and putting into advertising. In reconciliation my assumption has always been to use the credit & debit terms in their opposite form for continuity sake in the deeper accounting actions when working with your other accounts. I don't know if this is the actual reason but it is how I keep it straight in my head!

  • LB2020LB2020 Member Posts: 4

    @mommyof4grlz Oh my, thank you for your insight. After going over each of my transactions, I discovered a couple of errors. Once those errors were fixed, I was able to reconcile for that month. As for the terms "debit" and "credit", it appears my understanding of those terms was flawed for accounting purposes. Thank you for helping to clarify!

    edited September 11, 2019
  • mommyof4grlzmommyof4grlz Member Posts: 9

    @LB2020 Glad to have been of assistance. It is more confusing because of the terms "debit card" and "credit card" those cause confusion when it comes to accounting in my mind because they are used in the opposite definition than in accounting. So for me when I'm working with banking I use "deposit" and "withdrawal" and ignore the credit and debit terms.

  • LB2020LB2020 Member Posts: 4

    @mommyof4grlz Yes, it's confusing but I think I'm getting a hang of this accounting thing, thank you! I am still running into some kind of system glitch. When reconciling for a particular month, the "Wave Balance" as shown at the top (next to "Statement Balance") appears to be incorrect. There's a particular transaction it does not seem to like. When I open that transaction and hit "Save" without making any changes, a window pops up saying that month is now reconciled. But when I return to the reconciliation page, it says that same month is unreconciled again. When I pull up that month, the "Wave Balance" has reverted back to the incorrect amount. I've tried deleting that same particular transaction and recreating it but to no avail. I've also tried clearing my cache data and cookies. It seems others above have run into something similar. Is there a way to troubleshoot this glitch?

  • EmmaPEmmaP Administrator Posts: 57 admin

    Hey @LB2020 & @mommyof4grlz! Thanks for reaching out here! Debits and credits can be confusing at the best of times. Thanks @mommyof4grlz for giving us your insight here, it is much appreciated! This Wave guide on debits and credits also has a good overview if you want to take a look!

    @LB2020 in terms of your reconciliation, is your 'Statement Balance' correct? You can edit this by clicking the pencil icon beside the statement balance. This Wave guide on the new reconciliation tool may also help! If the statement balance is correct and you are still getting the error, are you able to take some screenshots of what you are viewing and pop me a DM? Then we can investigate further!

  • mommyof4grlzmommyof4grlz Member Posts: 9

    @LB2020 & @EmmaP I do believe there are some transaction hangs ups in the back end of the system. I did a video conference with some of the wonderful Wave peeps earlier and I do believe it was determined that some transactions get hung up in the back end and mess with the balances in reports and such. I think I ran into it again after my discussions with them earlier but I decided to wait to see if more time is needed for the system to update on the back end.

  • LB2020LB2020 Member Posts: 4

    @EmmaP & @mommyof4grlz Thank you very much for your messages! To my happy surprise, the reconciliation I was having trouble with last week seems to have resolved itself. I haven't touched it since last Wednesday, so at some point between then and now, it fixed itself and all the months are now reconciled.

    @EmmaP Yes, the "Statement Balance" was correct and the Wave Balance in the column was correct, but strangely, the Wave Balance at the top, in the summation line, was larger by an amount equal to a particular "Debit" transaction. If I just clicked on that transaction and hit "save" without making any changes, it reconciled and the correct Wave Balance showed in the summation line. But when I went back to the reconciliation page, the Wave Balance in the summation line reverted back to the incorrect amount. It wasn't saving the "correction". I will note to take a screenshot if something wonky like that occurs again!

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