Contra Asset

PuiyeePuiyee Member Posts: 2

Hi, I'm new to wave and just trying to figure this out :) I'm trying to create a contra account, but I don't see anything that says "contra" in the Chart of Accounts. How do I create this account in Wave and make sure that it's marked against the correct asset account where the money actually is?

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edited October 5, 2019 in Accounting

Comments

  • MikegMikeg Member Posts: 480 ✭✭✭

    @Puiyee,
    Why cash?
    The only contra asset account in Wave is accumulated depreciation. You could use that section or any asset account you create can go negative.

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