Sub-categories, classes and "tags"

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Comments

  • americanriveramericanriver Member Posts: 4

    I hadn't heard of Buxfer either, lol. The free stuff is always on my radar: http://www.buxfer.com

  • motoramblermotorambler Member Posts: 26

    @JamieD said:
    Hey everyone! Thanks again for giving a +1 this particular feature request. Our development team is definitely aware of how important it is for our brave entrepreneurs to have a tracking feature available to them in our software. With that being said, it's something that has been discussed heavily, and could be implemented in the future. I don't want to come on here and set a complete expectation of when this will be available to our users, since that wouldn't really be fair if we can't deliver on what we say we can. As far as I can say, the feature being asked about is well known and has been in discussion for future planning on how to improve our software to meet client needs.

    This reminds me of the often requested purchase orders. What is it now, 5 years and counting? But that is another topic...

    With all due respect @JamieD , your comment counts for nothing without an implementation target date. But hey, thanks for confirming that this much needed core functionality might be added to Wave "one day in the future".

    edited November 30, 2018
  • emmamhemmamh Member Posts: 2

    Yes, project tracking is a SUPER basic requirement for any business financial software, as ideally anyone in a service-based business has repeat clients who they are doing different projects for. Can't believe this hasn't been implemented yet. It's also been publicized in articles as a major weakness of waze, so I would think for that reason alone you would add the feature. (here's one example: https://www.merchantmaverick.com/best-wave-alternatives/)

  • emmamhemmamh Member Posts: 2

    Agreed with everyone here. Such a basic feature that should've been implemented long ago and something that is getting you negative publicity, so for that reason alone I would think you would rush to add it: https://www.merchantmaverick.com/best-wave-alternatives/

  • UHRP3UHRP3 Member Posts: 78 ✭✭

    @emmamh said:
    Agreed with everyone here. Such a basic feature that should've been implemented long ago and something that is getting you negative publicity, so for that reason alone I would think you would rush to add it: https://www.merchantmaverick.com/best-wave-alternatives/

    @emmamh

    This community is for wave user and wave potential user.
    Secondly wave team is giving the product free and the update too are free.
    Also wave team is doing there best to deliver the features but there must be some priority set at there end.

    You can justify that why you require a particular feature and I am sure wave team will look into it.

    So it is not good to mention any other product in this forum.

  • mdegivemdegive Member Posts: 2

    I definitely need sub-accounts as soon as possible!

  • BenWilliamsBenWilliams Member Posts: 1

    @Mani I hope the decision was made to add this feature. It's actually a requirement for running a Series LLC. We must have a way to classify/tag/categorize between the various cells/series of the Parent LLC. Without this feature, all the Series/Cells money is mixed with no way to track, which increases the likelihood of a law suit "piercing" the separate Cells and being treated as one entity, thereby defeating the purpose of the Series LLC.

  • SeajaysSeajays Member Posts: 6

    Yeah this would be great, we run a theatre club and have various shows through the year, where we categorise our expenses (props, set, costumes) etc., and it would be fantastic to have a tag, so we could run reports against each production.

  • OonaOona Member Posts: 1

    It seems like the "REAL" answer her is NO you cannot subcategorize...you're just adding another account.??? That seems like it would be a pain if i wanted to run a report at EOY for Utilities and what the total for the year was per payee??? are you saying i'd have to run a separate report for each account?

  • BethBnycBethBnyc Member Posts: 1

    Wow, I just spent a lot of time entering in all my accounts because you can't migrate over from my previous software, just to find out there are NO job costing possibilities. I'm a designer and work for lots of different clients and I want to know how profitable each project was. I will need a million accounts at this rate (fees, labor expenses, reimbursable expenses, reimbursed expenses, purchases, reimbursed purchases, shipping, etc for at least 15 jobs PER YEAR!!!). PLEASE, PLEASE work this out soon!!!!!!

  • RLJackRLJack Member Posts: 4

    @Oona That's what it sounds like to me. It's annoying, but that's exactly what I've been doing; running each account separately to get the individual subcategory totals, then manually adding them up for a category total. Like @Mohamed Imran Buhary Seyed Mohamed said, I do already have them named like "CATEGORY:SUBCATEGORY", but the search functions are too limited to take full advantage of this naming scheme. I'm new to accounting/bookkeeping and learning out of necessity (business startup), so that's one of the things I didn't know I needed when I was deciding what software to use. I hope they will add this feature. Better yet, I'll be happy when my business grows enough to hire somebody else to deal with it!

  • ManiMani Administrator Posts: 82 admin

    I'd like to help clarify where we are, and where we are not, putting our focus in 2019 around this issue. As of now, to get to job costing, we'd need to put into place several other lower level concepts like jobs or projects, attribution of income, expenses, estimates and the like to that job or project, and then special reporting atop that. Therefore, we have no plans to delivery this type of end-to-end experience in 2019, and we want you to be able to make the right kind of decision for what software you use for your business.

    As for subaccounts, we will be revisiting the priority of this feature in the second half of 2019, as it will impact the Chart of Accounts, how you categorize transactions, mark invoices and bills as paid, and how reports are rendered with roll-up. To do right by this, we'll need some time and we'll come back to the community to gather deeper feedback when the time is right.

  • americanriveramericanriver Member Posts: 4

    Ok, fair enough. Job costing might be a bigger programming challenge. But at least consider a WP like taxonomy such as tags to help categorize transactions in finer detail.

  • gabrieltomescugabrieltomescu Member, Administrator Posts: 33 admin

    @Oona @RLJack As per my colleague's answer at the top, Wave does not currently support creation of sub-accounts.

    You can view all transactions for each account using the Account Transactions report, but our filters only allow you to see one account at a time. I will pass your feedback along to our product team that being able to select multiple accounts in the filters would be very useful for your use-case.

  • ManiMani Administrator Posts: 82 admin

    @americanriver said:
    Ok, fair enough. Job costing might be a bigger programming challenge. But at least consider a WP like taxonomy such as tags to help categorize transactions in finer detail.

    Yes, this has been looked at. Again, no commitments in 2019, but we are looking at this earlier than the more complex executions.

  • AbrahannyAbrahanny Member Posts: 1

    @Mani - Thanks for revisiting the ability to add tags/classes to Waves Apps. Waves is a great growing tool with many good features, yet having the ability to segment certain types of expenses, will facilitate reporting as well as the ability to better manage many of the invoices (either in progress/paid) on a dashboard. Thanks for all you guys do.

  • RLJackRLJack Member Posts: 4

    @gabrieltomescu Selecting multiple accounts in the filter would be extremely useful. Short of supporting actual sub-accounts, this would be a good workaround. Thank you for your feedback.

  • brettrarnoldbrettrarnold Member Posts: 1

    Why doesnt wave have that ability to make subcategories... It doesn't make sense

  • canadian_guycanadian_guy Member Posts: 1

    I have exactly the same issue. I am trying to attribute some of the expenses and income to a particular project/line of business. I was surprised to find out this was "on the radar" for awhile yet no ETL...

  • JamieDJamieD Administrator Posts: 1,145 admin

    @brettrarnold We understand that a lot of our users would love to have sub-categories in Wave. It's something that's been discussed before, and we will be working on a viable solution for our users in the near future -- just no immediate plans as of right now. Again, the common workaround is to create a new account in the chart of accounts section. Once we have released a feature such as this, we will definitely keep our users updated in the threads they create for feature requests.

  • JKetterJKetter Member Posts: 2

    @Mani -- I second / 99 this, ;-) . Thanks for evaluating a tagging protocol on the dev roadmap.

    It would add a lot of value to many different kinds of SBs.

    I know it adds lots of complexity to traditional ERP's and Accounting Software if you go the full class / cost accounting route, but I bet if you simply set it up as an "additional field" or tagging feature, and then over-time incorporated the ability to add those same custom fields to reports as a slice/filter, it wouldn't take much time/UAT to roll something basic out.

    If you guys ever want some extra input ;-), I'm a retired CFO and used to oversee the tech roadmaps for Amazon.com's Global Financial Systems.

  • hansjohnsonhansjohnson Member Posts: 1

    Have been watching and testing Wave for years now and I'm absolutely astonished at the unwillingness to add a tagging feature. Friken Mint has tagging. This can't be taken as a serious functional accounting system without it. So sad, I could refer 1000's of clients to this app if they just added it. Come on guys, be transparent, communicate your roadmap, make it happen already.

  • MitchellGillespieMitchellGillespie Administrator Posts: 17 admin

    A heartfelt thank you for everyone's responses above.

    To be completely transparent, our accounting product & engineering teams are currently focused on moving customers from our older version of the accounting platform to our new version launched last year. This effort has been a long push for us because of the complexity of accounting. When completed, our new platform unlocks the team's capability to build features like tagging much much easier.

    As Mani has spoken about above, we appreciate tagging transactions to projects, productions, office locations, etc. At this point in time we have not prioritized this functionality to be worked on in the next 6 months. Our product roadmap changes as more signal comes into our teams, so I highly encourage customers to continue their advocacy for this feature.

    Thank you,

  • TrevorHTrevorH Member Posts: 1

    Absolutely need tags/some sort of labeling as a feature. Tags simply represent categorization - an essential element to nearly every part of business. There's no place in your Customers area to see notes about the customer.

    I've been through every accounting software out there and was excited to find Wave, until now. I was using zipbooks $35/mo (ripoff) plan JUST to have tags, and am actually considering going back because otherwise I'm going to have to manually sort through a spreadsheet to filter through my customers.

    The only way to label which customer is which (I have clients in different industries I absolutely need to filter) is to add a keyword to the beginning of their name, which isn't a great solution for a modern day SaaS.

  • solobrosllcsolobrosllc Member Posts: 2

    Must have. Otherwise I have 100's of accounts in my chart of accounts, it's insanity.

  • PierrePierre Member Posts: 1

    @Mani said:
    @kacit @twestrick @pyba @shawnthompsonllc @Jenny_kitekids @jalop123j @PBrooksMac I'd like to thank you all for participating in this conversation. We're listening very carefully to this feedback. Truth be told, we've explored this in the past but chosen not to move forward, but it seems the time has to come to revisit as a product group and see if it now makes more sense for our users in 2019. No promises, but we hear your need loudly.

    @PBrooksMac I also would like to respond to one comment in this thread: "Ideally we would have a class system or project tracking, but I definitely don't expect that in a free product". We're committed to you, and every other Wave user. We will never neglect your collective needs by being the "free product". Free is part of our ethos because we believe in helping every entrepreneurs around the world increase their odds of success by having the right tools to run their business without unnecessary overhead. For North American users, when they need financial services to get paid faster, pay their employees, or smooth out their cash flow, we're there to help should they entrust us with solving those needs. That's how we earn revenue. We'll never use free as an excuse, and you should always hold us to a high standard.

    Thanks so much for being such wonderful users. To all new readers: please keep the comments pouring in. We're listening.

    You heard them loudly, can you update us on the tag development ? I also relly need this system. For me being able to set tags on my invoices would be a basic but essential feature that would save me so much time.

    Regards,

  • danedobredanedobre Member Posts: 2

    I agree - tags & classes is an essential feature. Everyone I know that has used tags in the past swears by it. Google now has tags for pretty much most of its ecosystem. I would also recommend 100's of clients to waveapps if it had tags.

  • memememe Member Posts: 2

    I'm fairly new to Wave and LOVE it for the most part. As I started looking at the reports the end of last year to get everything ready for tax prep I came across the very same problem of needing to view my expenses by project or in my case rental properties. Today, finally, I figured out how to fix my issue!!

    For each project or property you need to create a "vendor" which is under the Purchases dropdown. Then you need to attached each expense transaction to the appropriate vender. By doing this you can then pull up the report called "Account Transactions" and change the "Contact" dropdown to the vendor (then update report, of course). This will then show all transactions with a total of each expense type.

    (I also created a vendor name labeled as my business name to see my expenses that can't be separated by property such as my cell phone bill, office supplies ...)

  • CharlotteCharlotte Member Posts: 695 admin

    Appreciate it @danedobre we'll share an update here in the forum as soon as we have one. If you have any insights to share, please don't hesitate.

  • jpojpo Member Posts: 7

    I would dearly love to see projects introduced into Wave.

    We often run functions and activities and the ability to allocate revenue and expenses to each function or activity is something I currently have to track manually in Excel. It wasn't to bad when we had only two/three functions per year, now we have at least one 10-15 functions per year and growing. It has got to the point where I need to consider an alternative accounting solution. It is such a shame as Wave has been at the foundation of our lives since the beginning.

    I would gladly pay for Project allocation and reporting...

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