Chart of Accounts : Category and sub-category

razaraza Member Posts: 1

Can we create an expense group/ category and sub-group/sub category. For example: Category : Advertising and within this category a sub category could be: Print Media, or Trade show events or catalogs etc. How can we incorporate this? Similarly for Payroll and other major categories. Thanks

Comments

  • CharlotteCharlotte Administrator Posts: 644 admin

    Hi Raza! Wave does not have the ability to create sub-accounts and groups. You will need to create a separate account in your Chart of Accounts for each one that you need to create.

  • chenley54chenley54 Member Posts: 1

    I need to clean up the chart of accounts and delete those accounts that we don't need. How do I do that?

  • CharlotteCharlotte Administrator Posts: 644 admin

    Hi Chenley! What you would want to do here is archive the accounts you do not need. This FAQ explains the archive function.

  • @raza said:
    Can we create an expense group/ category and sub-group/sub category. For example: Category : Advertising and within this category a sub category could be: Print Media, or Trade show events or catalogs etc. How can we incorporate this? Similarly for Payroll and other major categories. Thanks

    A workaround would be to use the common term as a prefix to many accounts. i.e. Advertisements-Media , Advertisements-Newspaper etc.

  • OonaOona Member Posts: 1

    It seems like the "REAL" answer her is NO you cannot subcategorize...you're just adding another account.??? That seems like it would be a pain if i wanted to run a report at EOY for Utilities and what the total for the year was per payee??? are you saying i'd have to run a separate report for each account?

  • RLJackRLJack Member Posts: 4

    @Oona That's what it sounds like to me. It's annoying, but that's exactly what I've been doing; running each account separately to get the individual subcategory totals, then manually adding them up for a category total. Like @Mohamed Imran Buhary Seyed Mohamed said, I do already have them named like "CATEGORY:SUBCATEGORY", but the search functions are too limited to take full advantage of this naming scheme. I'm new to accounting/bookkeeping and learning out of necessity (business startup), so that's one of the things I didn't know I needed when I was deciding what software to use. I hope they will add this feature. Better yet, I'll be happy when my business grows enough to hire somebody else to deal with it!

  • gabrieltomescugabrieltomescu Member, Administrator Posts: 33 admin

    @Oona @RLJack As per my colleague's answer at the top, Wave does not currently support creation of sub-accounts.

    You can view all transactions for each account using the Account Transactions report, but our filters only allow you to see one account at a time. I will pass your feedback along to our product team that being able to select multiple accounts in the filters would be very useful for your use-case.

  • RLJackRLJack Member Posts: 4

    @gabrieltomescu Selecting multiple accounts in the filter would be extremely useful. Short of supporting actual sub-accounts, this would be a good workaround. Thank you for your feedback.

  • brettrarnoldbrettrarnold Member Posts: 1

    Why doesnt wave have that ability to make subcategories... It doesn't make sense

  • JamieDJamieD Administrator Posts: 448 admin

    @brettrarnold We understand that a lot of our users would love to have sub-categories in Wave. It's something that's been discussed before, and we will be working on a viable solution for our users in the near future -- just no immediate plans as of right now. Again, the common workaround is to create a new account in the chart of accounts section. Once we have released a feature such as this, we will definitely keep our users updated in the threads they create for feature requests.

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