Welcome to 378 new Wavers! ☃️
Charlotte
Member Posts: 695 admin
Hi everyone, nice to meet you!
I'd like to extend a warm welcome to 378 new Wavers today.
Let’s break the ice! We're closing in on the end of the year. What's a goal you've set for yourself or your business in 2019?
Are you running or have you run any holiday-related promotions for your business? Please feel free to share any relevant links below along with your intro.
For anyone who is joining us for the first time and wondering what goes where:
If you're a new Wave Pro or you're looking for an accountant or bookkeeper, this is the section for you.
If you are experiencing technical issues or you have a question about how to use Wave you can visit this category.
This is the place to be if you'd like to talk feedback and suggestions. We're always interested in hearing more about what problems you need to solve, and how we can help you do that.
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Hi Charlotte,
Is anyone else experiencing issues connecting to bank account information to sync recent transactions? Or is it just me?
I am too my Reconciliation screen won't load
G'Day from Down Under Charlotte,
Thanks for the welcome.
Been using WAVE for over a year since leaving another high profile Cloud product in 2017. We are a little 'different' in Australia but we can make our strange Tax System work. Be interesting to know how many Aussies are on here?
Running a small business is made easy with WAVE, Grouse (excellent)!!
Sandgroper
Just one of the 2 Million Small Business Owners in Oz
I'm having recent issues connecting to my bank also. Wave tech support suggested that I export from my bank and import manually. Hopefully it'll get fixed soon.
HI I am also experiencing issues connecting my bank account. This has been going on for a good while now.
Additionally, when trying to gain access to my online bankingn via desktop, the bank says my account temporarily unavailable for 10 minutes due to log in attempts so close together. Banking app working fine on my phone.
Hi, anyone know how to close the accounts/financial statements for the prior year, so there is no adjustment made in the prior year? This is because the prior year financial statements has been audited, and it is to prevent adjustment in the prior year. And this will effect the financial statements balance audited.
Hey @aein. At the moment Wave doesn't have a year-end close function, but operates on rolling balances, with all past data remaining editable. Other accounting platforms don't allow you to touch historical data, but in Wave, you can pull up reports and make adjustments at any time. This means that your previous years never really "close". All that happens at year-end is that current year earnings get zeroed and added to previous year earnings.
At the start of your new fiscal year, you will see your new previous year earnings balance, fresh income and expense account balances, and your usual bank account balances.
What Wave doesn't do is put those amounts under a common account, such as retained earnings, that you can post transactions to. If you want your previous year income/loss to roll forward into retained earnings, you will need to manually do this. Here's how:
This could get confusing, so if you are concerned about your year-end balances and need some professional accounting help, you might want to get in touch with a professional accountant, which we always recommend
HI there, I'm new ... I have been nominated to be treasurer to a local bowling green, Glasgow Scotland. I' retired and have set up an account. I find the layout easy to understand until I get to categories... Not being an accountant its difficult.... Any advice and tips would be greatly appreciated. Trevor..