How to ensure receipt expenses are not duplicated

SystemSystem Posts: 188 admin

imageHow to ensure receipt expenses are not duplicated

If you have linked the same bank account to Wave to which your receipts are being charged, then you may see duplicate transactions.
As soon as you verify the receipt in Receipts by Wave, an expense...

Read the full story here


edited November 30, 2018 in Help Center Discussion
«1

Comments

  • DWPSoundsDWPSounds Member Posts: 3

    It would be nice to be able to upload/add receipt images directly to existing accounting transactions, like you can with quickbooks self employed.

  • Ryan_WRyan_W Administrator Posts: 460 admin

    Hey @DWPSounds, out of curiosity do you have feedback about the merge function in Wave? Or is it the workflow of uploading the receipt to the Purchases tab, then reviewing to post to your Transactions page that you find indirect? Any and all feedback is welcome!

  • DWPSoundsDWPSounds Member Posts: 3

    the merge function itself works ok, it's just the workflow is cumbersome. It would be nice to be able to upload receipts directly in the transaction view to existing transactions instead of the current two step process.

  • ilesinvestmentsilesinvestments Member Posts: 1

    I completely agree with @DWPSounds. Would be nice to "add receipt to existing charge/purchase" or even just have the ability to add a receipt image without adding the charge to the accounting page. Having to go in and delete or merge transactions is an added step that could probably be avoided.

  • ErikErik Administrator Posts: 190 admin

    @DWPSounds @ilesinvestments thank you for offering your feedback! I see where you are coming from and will bring this up to the team -- while I can't make any promises about this functionality at this very moment, I can assure you that your input will be heard!

  • AJBAJB Member Posts: 2

    New to Wave but having experience with multiple accounting solutions: a nice solution i know off is that receipts are automatically matched to a transaction. Most of the time beside the amount also the name match. The match could than be presented as 'these seem to match' or something alike

  • RHCRHC Member Posts: 2

    Yes would agree with all here - seems unnecessarily long winded to have to merge the bank and receipt transactions.
    When you logon initially the bank connection should pull in the transactions automatically and you then should be able to add the receipts directly to the transaction or else upload a lot of receipts and the software present likely transaction matches

  • JudeRoseJudeRose Member Posts: 20

    This duplicate does cause a few issues for me and my clients. I struggle to moan too much as Wave is still a great product for £0 each month!
    Would be great to hear feedback from @erik in due course

    Is there a list of developments that are being considered?

  • Barry8SchneiderBarry8Schneider Member Posts: 2

    where is the link to "our FAQ on merging transactions for details" ?

  • HaydnHaydn Member Posts: 1

    It would be great to see an icon on the transaction page next to the transactions that have a receipt attached to them (like the 'tax' icon) so we can quickly see at a glance which transactions are missing the receipts (or have receipts) without having to click on each transaction to open the right hand details pane. To find transactions that are missing receipts (or have receipts attached) is a very long arduous task with the way the software is setup at the moment..... Still this is a great piece of software for the price :-)

  • PastpresentpixPastpresentpix Member Posts: 2

    It would be nice to be able to upload/add receipt images directly to existing accounting transactions, like you can with quickbooks self employed.

  • PastpresentpixPastpresentpix Member Posts: 2

    I am trying to second this comment from DWP sounds -- I couldn't agree more!! > @Pastpresentpix said:

    It would be nice to be able to upload/add receipt images directly to existing accounting transactions, like you can with quickbooks self employed.

  • Ryan_WRyan_W Administrator Posts: 460 admin

    Hey @Pastpresentpix for what it's worth, the workflow you're describing is something we're working towards, so keep an eye out for improvements like this in 2019!

  • PeterFreePeterFree Member Posts: 7

    I agree that manually merging receipts to bank transactions seems like exactly the sort of thing that should be automated. Surely the software should be able to offer likely matches.... 1-2 days later, same amount with same or similar vendor. Otherwise, at least add option to add receipt directly to tra stars otheres have suggested please

  • SophiaSophia Administrator Posts: 147 admin

    Hey @PeterFree thanks for adding your feedback here, we'll make sure the appropriate team gets eyes on this thread :) As Ryan mentioned, we're working towards a workflow like that later this year, so watch this space!

  • BJA_IncBJA_Inc Member Posts: 1

    Wanted to cast a vote for the "attach receipt" feature suggested by other users below. The ability to attach receipts to imported bank transactions would be more far more valuable to me than the current workflow that requires me confirming the text-scan accuracy and then manually merging it with corresponding imported entry. It's twice the work just to attach a receipt. Thank you, and looking forward to an update!

  • KrutchKrutch Member Posts: 2

    "Attach receipt" feature is a huge missing piece in Wave and has been a major pain for me. This should be a huge priority to implement at this point. The feature has been "in the works" since early last year.

  • FallenindustryFallenindustry Member Posts: 1

    Are you kidding? How is this not an automated thing!? I have been holding off on using the app out of fear that it wouldn’t automatically sync up to the matching transaction. But I always thought that I was being paranoid, because that would be a total pain to have to go in a manually link the 2 trasactions. Well guess I was right. That’s terrible.

  • EnduringEpilepsyEnduringEpilepsy Member Posts: 1

    @Krutch said:
    "Attach receipt" feature is a huge missing piece in Wave and has been a major pain for me. This should be a huge priority to implement at this point. The feature has been "in the works" since early last year.

    I agree. This is something so simple and an obvious feature that is missing here. I have several transactions that reimburse someone for multiple expenses; some paid online, some paid with cash. The ability to attach documentation to a transaction needs added ASAP.

  • Zoe_caffZoe_caff Administrator Posts: 289 admin

    Hey @EnduringEpilepsy, thank you for your feedback on this. We are definitely working towards introducing this feature but as we have mentioned, unfortunately we still have no ETA. We will definitely update you as soon as there is an update on this!

  • LindaR58_LindaR58_ Member Posts: 3

    Hi, my partner has been importing receipts via his mobile app, and when you merge the bank transaction and the receipt which appears as a duplicate on the bank, it puts the account balance up by that amount? Surely this is wrong? if you are merging the two, shouldn't it take away the receipt amount from the bank balance? Help!

  • TukTuk Member Posts: 1

    I would find it very awesome (and logical!) if i could just upload a receipt that's already been paid, and later attach that to a bank transaction (which is automatically imported because of the Bank Connection). Imo, this is basic/normal accounting workflow! If the date and amount are corresponding, Wave should actually do this automatically.

    Creating two transactions and later 'merging' them manually really doesn't feel like proper accounting and takes more time than it should. I hope you can implement a more efficient workflow soon!

  • ElevationTECHElevationTECH Member Posts: 6

    I have two receipts uploaded from the same vendor, however I made one payment to the vendor for both amounts. Wave does not allow me to merge transactions with different amounts. How do I go about making sure there are no duplicates in this case? Is deleting the one transaction with both totals the only way?

    Brian

    edited March 14, 2019
  • Ryan_WRyan_W Administrator Posts: 460 admin

    @BrianH2o in your case, I actually recommend deleting the two expense transactions that are created by the separate receipts posting to your Transactions page. I only recommend this because you want your transactions to mirror what actually happened in your bank account--the bulk payment for both at once--for the sake of reconciliation (i.e. making sure your Wave transactions reflect your bank transactions 1:1). Meanwhile, those receipt images still exist in Wave--and can be exported in the Data Export > Export Receipts, so you still have an audit trail for those receipts. If you kept both receipt transactions and deleted the bulk transaction, you're not reflecting your actual bank statement as accurately.

  • ElevationTECHElevationTECH Member Posts: 6

    @Ryan_W said:
    @BrianH2o in your case, I actually recommend deleting the two expense transactions that are created by the separate receipts posting to your Transactions page. I only recommend this because you want your transactions to mirror what actually happened in your bank account--the bulk payment for both at once--for the sake of reconciliation (i.e. making sure your Wave transactions reflect your bank transactions 1:1). Meanwhile, those receipt images still exist in Wave--and can be exported in the Data Export > Export Receipts, so you still have an audit trail for those receipts. If you kept both receipt transactions and deleted the bulk transaction, you're not reflecting your actual bank statement as accurately.

    Thank you, that makes sense..

  • kinofistkinofist Member Posts: 6
    1. I have found that more tools to sort help in bookkeeping ease of use. There should be an option to sort AND search via not just by date, but by vendor, NOTE, dollar amount, payment source, category, tax, receipt capture…any field. This multi-plane spreadsheet should have more (even basic) spreadsheet options.
    2. You should be able to post receipts to an asset not just expenses. I have a lot of capital acquisitions and they should be able to go to the asset section easily. I currently have to make a capital expenditure category in the Expenses section to import receipts easily then factor that out later when reporting expenses. I could add another transaction to move afterwards but that is silly.
    3. The number of transactions in any displayed list/search should be numbered and current tallies at top of page.
    4. Tax overrides should be flagged/tagged for easy spotting and verification.
    5. You should be able to merge in the search results instead of having to go find them in an EVEN bigger pile.
    6. I know I briefed upon this before but..you should be able to search dollar amounts!
    edited March 18, 2019
  • Ryan_WRyan_W Administrator Posts: 460 admin

    @kinofist thanks for putting that list of suggestions together! I know you got a hold of us on the weekend and got pointed to our Research Labs, so hopefully that's a good avenue for you to explore and continue providing constructive feedback!

  • That_GuyThat_Guy Member Posts: 2
    Yes. Searching by dollar amount and having receipt app work with assets are so important, they are possibly deal breakers for me. Furniture business. Book business, eBay store, Amazon store. (Over 1 million different entities sell on Amazon alone.) Lots of inventory aquisitions. In fact you have pretty much alienated the entire "buy low, sell high" segment of the small business community. In my humble opinion.
    Rest looks good so far.
  • amsams Member Posts: 3

    I tried using the bank connectors to automatically import transactions. I figured that would leave less room for error than manually typing everything in. However, if I want to upload receipts, then it becomes extra, error prone work, because I have to find both the transaction and merge them. By default it will chose the one of the names (from the receipt or from the transaction) and I have to re-type it. The date on a receipt is also usually different than the date it cleared in the bank account, so I need to fix the date as well. Anywhere I am doing things manually like that adds room for error.

    Like someone else suggested a while back, I think the best way to handle it would be to add an "add receipt" button to the transaction menu which would attach the receipt right there.

Sign In or Register to comment.