How to create a transfer from a business bank account to a personal bank account



  • AlexLAlexL Administrator Posts: 2,869 admin

    Hi @peedee . There's no way to transfer between businesses / personal accounts. If you mark these transactions as "Owner Investment / Drawing" under categorization and recreate them in your personal account, this will accurately record how these were made in the real world.

  • DRodDRod Member Posts: 1

    Wow. This is very disheartening to learn this late in the year. Why wasn't there transparent communication to users that a "MAJOR accounting system change" was forthcoming and THEN schedule it at year end - like any good Accountant would?
    This ability/feature was understood by a large percentage of user (you should know by the volume of use) and it "was" the reason I chose WAVE over other products in the first place. Just thinking about this bad timing...I hope this is not a dig at our president for flushing NAFTA!
    FYI, if you plan to make WAVE a SAAS product in the future, you'd better get a grip on Change Management!

  • SamanmoranSamanmoran Member Posts: 2

    I have relied very heavily on the ability to move transactions from one account in Wave into another, as I have a couple of checking accounts and multiple businesses. It was so easy before! I lumped everything into personal and redistributed business transactions to their respective accounts.
    Now it seems the only way to accomplish this is to upload all the transactions to each account and delete all the irrelevant ones. PITA!
    Please reinstate the ability to move transactions between accounts.

  • LeditrixLeditrix Member Posts: 2

    Personal to business, and vice versa. Please restore this feature. I'm going nuts trying to reconcile end-of-year, just crossing fingers you'll fix it before I have to file taxes. Please, Waveapps! This is a seriously needed feature!

  • AussieAussieAussieAussie Member Posts: 10

    hi @AlexL

    is this topic refer to the moving transactions between personal and business account (i assume this can be done easily, as i have done this before)
    is this post topic about moving asset accounts between business and personal ? (is this possible?)

    edited May 1, 2020
  • SamdSamd Administrator Posts: 552 admin

    Hey @AussieAussie! In this case it'd be transactions rather than full accounts. At the moment, Wave doesn't have the capability to move (or even export/import) Chart of Accounts between businesses, which means for the most part if you need to 'reassign' and account, you'd need to manually create it in the correct profile, and then enter a starting balance for the day it was transferred (you can do so by creating an income transaction into said account, and categorize it as Owner Investment).

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