Using Wave for Charity

KasunKasun Member Posts: 2

Hey all, I'm Kasun from Sri Lanka & searching for an accounting solution to a charitable institution from Wave. There I have an issue with the standard names given on wave, Income, expenses, net profit etc. that does not match for a charitable institution.
Is there any possibility to change those wordings on Wave flatform?

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  • GraceMGraceM Administrator Posts: 8 admin

    Hi @Kasun from Sri Lanka!

    Thank you so much for taking the time to comment and post a question. I understand what you mean in that the language may not fit with how a charitable institution regards what are essentially credits or debits to the organization. By design this is accounting language that's built into the app and can't be changed. As a workaround though, what you can do is in the Chart of Accounts, you can add an Account by creating an income account and give it a name that is makes more sense to a charitable institution such as "Donations". Save it as such and it will be accessible under Chart of Accounts. Once it's created under the Chart of Accounts, you'll be able to categorize any donations or incoming money to the charity under that name so that it's a bit more accurate based on your needs. It's still tracked under Income however and will be plugged into the accounting tool.

    Hope this helps! Have an amazing day!

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