change from Uncategorized to Transfer To/From

BicoastalBicoastal Member Posts: 3

Hi There. I'm new to doing my own accounting and I need some direction. I automatically set my bank statements and my credit card statements to import into waveapps and it worked great. I had to manually enter older statements which I already did but I'm having one issue. I don't know how/what to classify my AX payments from my bank account. The statements that were auto download are great. They say transfer from business advantage +700 transfer to AX Business Gold Rewards, Then transfer to business gold re -700 Transfer from Business advantage. I don't know how to manually do this for the transactions that I have entered. Right now they are classified as Categorized Expense.

Thanks in advance for any help.

edited January 9, 2019 in Accounting Technical Support


  • BicoastalBicoastal Member Posts: 3

    I still can't figure how the software automatically did it and I can't do it manually. Please help.

  • SamdSamd Administrator Posts: 555 admin

    Hey @Bicoastal - we should be rolling out a way to do this manually on your account very soon. Essentially when categorizing, you'll just need to select Transfer as a transaction type, and Wave will generate the requisite Transfer to/from for your accounts.

    In the mean time until this update is rolled out, you can head over to Accounting > Journal Transactions, and create a transfer this way, which will move the money from one account to the other in Wave. This will prevent it showing as income/expense on your reports, rather than just a move between accounts.

  • BicoastalBicoastal Member Posts: 3

    Thanks for the response Sam. I'm new to doing my own accounting. I went to Accounting > Journal Transactions and it says "You have not added any journal transactions yet." Can you please dumb it down and give me some info on how to adjust the existing adjustments that I need to make for 2018? Right now the payments to my AX account is named "Uncategorized Income"

  • JamieDJamieD Administrator Posts: 1,145 admin

    Hi @Bicoastal. When you click on Add a Journal Transaction (from that screen) you should be able to select specific accounts in Wave (ex a bank account) that will allow you to move money from one account to the other (similar to making a credit card payment). For example, let's say I have a personal bank account in Wave and need to move funds from this to owner's equity. I can simply add $1000 from my personal bank account (as a debit) and then credit my owner's equity account the same amount (again, these are accounts in the Chart of Accounts section). I hope this helps!

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