Reconciliation Update: Help with Technical Issues

Katie_WaveKatie_Wave Administrator, Moderator Posts: 24 admin

Having an issue with the update to Account Reconciliation? Please let us know here so our team can help!

If you're looking for help getting started with your Account Reconciliation, you can get started here.

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Comments

  • snappyfishsnappyfish Member Posts: 54

    I understand why its free, it never works

    edited August 22, 2019
  • ChelseaKChelseaK Member Posts: 261 admin

    @snappyfish Oh no, still not saving, huh? I noticed you reached out to us through a support ticket back in June and our Application Support Specialist, Katie, looked into this issue on the backend. After she looked into this, were you able to save your ending balance?

    Or, did this issue pop up again after the Reconciliation page was updated?

    I can't seem to replicate the issue on my end so I just want to eliminate the possibility that it's a browser issue. Do you mind clearing your cache and cookies and/or opening up a new incognito window in Chrome and seeing if you can save the balance after doing that? Also keep in mind that Wave only supports Firefox, Chrome, and Edge so be sure to use one of the those browsers.

    If you reach back out with details on when the issue started happening again (or if you have never been able to save your ending balance), we can look further into this and hopefully get this resolved as soon as possible.

  • IndigoIndigo Member Posts: 2

    The wave ending balance under reconciliation does not match the ending balance in the account transaction report (General ledger). Seems like a bug

  • AlexLAlexL Administrator Posts: 2,869 admin

    Hey @Indigo . I took a look at the way your data being displayed on the back end and made a small tweak that may have fixed your issue. Feel free to take a look and reach back out if you're still seeing balance discrepancies.

  • IndigoIndigo Member Posts: 2

    Thank you. Its sorted now.

  • cylon58cylon58 Member Posts: 5

    every time I match the top transaction is shows incorrect balance. Statement balance is 1610.12, and wave balance in transaction list is 1610.12, but Wave thinks the balance is 2,345.29

    when I don't match the last transaction is shows reconciled

    edited October 4, 2019
  • BarsinBarsin Administrator Posts: 2,041 admin

    Hey there @cylon58

    Looks like you may have had a similar issue with your accounting that Indigo may have had. I've made some changes in the back end of your business. Can you let us know if you're still experiencing the same issue?

  • cylon58cylon58 Member Posts: 5

    @BarsinA said:
    Hey there @cylon58

    Looks like you may have had a similar issue with your accounting that Indigo may have had. I've made some changes in the back end of your business. Can you let us know if you're still experiencing the same issue?

    Seems to be resolved. Thank you for your help.

  • Just_LurkingJust_Lurking Member Posts: 31 ✭✭

    I'm having a minor but annoying recurring issue with account reconciliation, and I'm hoping someone can suggest a workaround:

    I have a recurring monthly credit card charge which just so happens to fall on the last day of my credit card statement's cycle. However, the charge actually posts to my credit card 1-3 days later (depending on the day of the week the charge falls and whether there's a bank holiday, etc.)

    Unfortunately, this causes my monthly reconciliation to always be off by the amount of this recurring charge. I've been fixing this by editing the date of the transaction and changing it to the "posted" date, which moves the charge into the correct period and allows me to reconcile.

    Is there a better way to allow me to reconcile every month and which doesn't require me to edit the transaction date every month?

    Thanks!

  • FerdausFerdaus Member Posts: 13

    @BarsinA said:
    Hey there @cylon58

    Looks like you may have had a similar issue with your accounting that Indigo may have had. I've made some changes in the back end of your business. Can you let us know if you're still experiencing the same issue?

    Hi @BarsinA,

    I'm having an exact same issues as above. Could you help to look in to my account? Reconcile period of Aug 2019 for MF Genius Resources account.

  • KH_BBCOKH_BBCO Member Posts: 3

    I think I am having the same issue as Just_Lurking. Most recently when trying to reconcile October, I had a few outstanding transactions/reconciling items that hadn't hit my bank account yet so the period was unreconciled. In November, after these items posted, I went back to October and matched them. Afterwards, the Wave balance still did not match my ending bank statement. I moved these transactions to November, and both October and November reconciled.

    In the future, I would like avoid moving transactions, and I also would like to avoid having an unreconciled period simply due to outstanding checks or other pending items.

    I am not an accountant, but my understanding is that having reconciling items at the end of the month is fine, as long as they eventually match.

  • AlexLAlexL Administrator Posts: 2,869 admin

    @Just_Lurking So just to confirm, it shows up on your statement on the last day of every month, but in real life it actually posts the following month (a few days later)?

    @Ferdaus Can you detail your issue some more? I think your issue may be slightly different than what some other users faced above, but I'd like to confirm for sure. Screenshots are encouraged.

    @KH_BBCO What's the workflow for getting your transactions into Wave, are these transactions that appear at the end of the month being pulled in from your bank connection automatically?

  • Just_LurkingJust_Lurking Member Posts: 31 ✭✭

    @AlexL Correct. At least for this account, the date in Wave appears to be the "transaction date," not the "posting date." Basically, Wave reconciliation behaves as if charges which fall towards the end of the (e.g.) November billing cycle but which do not post until the beginning of the December billing cycle need to be reconciled in November.

    My credit card balance disagrees, as my November credit card billing statement only contains the charges which actually posted in November, This actually raises a related question, as to whether transactions which are imported via bank feed are supposed to import the transaction date or the post date?

  • KH_BBCOKH_BBCO Member Posts: 3

    @AlexL I enter the transactions in Wave manually, dated when the expenses are incurred or when the balance is due (accrual accounting). I do not have my bank account connected.

  • EmmaPEmmaP Member Posts: 639 admin

    Hi @Just_Lurking! Your bank statement is the true record of what has happened in your bank account, so you should record transactions as they show on your statement. When it comes to importing our data aggregator will import transactions that are available for import at the time (this may include transactions that have not posted yet). We don't have control over what imports and when, but this is why reconciliation is important!

    Hey @KH_BBCO! If you are trying to account for transactions that have not hit your bank account yet, you can follow the process in this Wave guide to account for them: Bookkeeping undeposited funds!

  • KH_BBCOKH_BBCO Member Posts: 3

    @EmmaP Thank you! I think that is exactly what I was missing.

  • travis88travis88 Member Posts: 18

    Not sure if it's an actual issue with the platform or just an "ID-10-T" (you'll get it later) error on my behalf from lack of coffee @ https://community.waveapps.com/discussion/6531/reconciliation-transaction-debit-vs-credit-and-odd-balance/p1

  • AlexLAlexL Administrator Posts: 2,869 admin

    Hey @travis88 . I took a look at your data on our end and it looks like there may have been an issue with the way it was being displayed. I made a small tweak which should have corrected this, but please let us know if this isn't the case!

  • AdonisAdonis Member Posts: 15

    Seems that i have a similar problem. Previously reconciled period shows as unconsidered after addition of new transactions (new Period). Checking or un-checking any transaction in the reconciliation window, shows the balance as fixed and reconciled. Going back to reconciliation main page , shows the period un-reconciled again.
    Statement balance is correct in Account Transactions report. Its wrong in Account Balances.





  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    Hey @Adonis! I've just gone through with a small refresh to your account data. Can you let me know if this issue has been rectified?

  • AdonisAdonis Member Posts: 15

    Hi ConnorM,

    Many thanks!!!. Looks like issue is rectified!!

  • RushdyRushdy Member Posts: 4

    Hi @ConnorM

    I'm having an exact same issues as @Adonis. Could you help to look in to my account? Reconcile period of Aug 2019 for BU EMBROIDERY account. Kindly assist.

    Thanks.





  • AlexLAlexL Administrator Posts: 2,869 admin

    Hi @Rushdy , can you take a look and confirm whether or not you're still seeing this issue?

  • RushdyRushdy Member Posts: 4

    Hi @AlexL
    Thanks for asking. Yes its still remain the same. The transaction is matched but the is different amount RM3,344.00 for transactions between August 2nd, 2019 and August 31st, 2019 as shown in the below screenshot.

  • LoriKLoriK Member Posts: 4

    I am having trouble categorizing my bank to credit card transfers now. I see two transactions, but when I select transfer, the matching transaction does not show to select. Since wave has been inputting duplicate transactions on me (such as duplicate deposits), I'm not sure if I should be trying to add these myself or what. I've waited several days to see if it has corrected, but it still hasn't. Thank you.

    *UPDATE Still unable to reconcile credit card payments from my bank account. It just creates new transactions when I try to link the transfers together.
    Lori

    edited January 13, 2020
  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    Hey @Rushdy - have you gone through and compared the transactions in Wave to the transactions in your bank account, for the dates in those time periods? It looks like everything should be correct in terms of the data being in the right place. Is your ending balance in that reconciliation period accurate?

    @LoriK Thanks for reaching out here, could you please provide a little more context around what you're seeing here? I'd love to see a screenshot of the duplicate transactions you're seeing, or the accounting practice that you're trying to implement in Wave to reflect a real-world movement of funds.

  • LoriKLoriK Member Posts: 4

    When I would go to review transactions for a credit card payment, there would be two. One for the card payment and one from my bank account to the credit card. I would select one of them, click on transfer - and wave would automatically find that transaction to link it to. Now, it will not find that transaction at all and if I create new, then I have another transaction (making 3).! This picture shows where there should be a choice for the matching transaction. This issue didn't start until 2020 for me. I attached a picture, but it isn't showing for me.

    edited January 14, 2020
  • LoriKLoriK Member Posts: 4

    posting picture again.

  • LoriKLoriK Member Posts: 4

    I'm also going to show that wave is recording deposits twice when they only appear once in my bank statement (How I wish it was true LOL! )

  • Ava19EWAva19EW Member Posts: 2

    Hello all,

    I have successfully reconciled two bank accounts, however, I have a minus figure for the reconciliation amount for payments by wave and I don't really understand what this means or how to fix it? Would appreciate your help. Thanks so much, Ava K

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