Money In Transit

snappyfishsnappyfish Member Posts: 32

Hi,

Please see screenshot, from today 28th Jan. I've had "money in transit" since 1st Jan?

This money is already in my bank?

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Comments

  • SamdSamd Administrator Posts: 358 admin

    Hey @snappyfish ! It looks like Wave may not be processing the transfer properly. Do you have a bank account connect to Wave to pull in the transactions? If so, when the payment actually hits your account, head to Accounting > Transactions, locate the bank deposit and select "Transfer from Bank, Credit Card or Loan" and then Payments by Wave as the origin account which should set up the transfer.

  • snappyfishsnappyfish Member Posts: 32

    @Samd said:
    Hey @snappyfish ! It looks like Wave may not be processing the transfer properly. Do you have a bank account connect to Wave to pull in the transactions? If so, when the payment actually hits your account, head to Accounting > Transactions, locate the bank deposit and select "Transfer from Bank, Credit Card or Loan" and then Payments by Wave as the origin account which should set up the transfer.

    Hi,

    Yes I have had a bank account set up since July 2017

    Sorry, so this is a bug?

    So payments have been pulled in as "stripe payments" normal practice was to delete then? So what do I do now? This seems like a complicated way to do things, wave is supposed to help me not have me work around bugs?

    edited February 8, 2019
  • Katie_WaveKatie_Wave Administrator Posts: 19 admin

    Hey @snappyfish,

    Nope, this isn't a bug. This is a bookkeeping update that was introduced when you were upgraded to the latest version of Wave's accounting platform.

    Like @Samd described, rather than deleting anything, instead you can just categorize your bank imported transactions from Stripe deposits as transfers from the Money in Transit account. This update means that you're much more accurately showing what happens between when a client pays an invoice, and when the funds land in your account.

    We've gone over everything about how this works in this article: https://support.waveapps.com/hc/en-us/articles/115004964423

  • snappyfishsnappyfish Member Posts: 32

    @Katie_Wave said:
    Hey @snappyfish,

    Nope, this isn't a bug. This is a bookkeeping update that was introduced when you were upgraded to the latest version of Wave's accounting platform.

    Like @Samd described, rather than deleting anything, instead you can just categorize your bank imported transactions from Stripe deposits as transfers from the Money in Transit account. This update means that you're much more accurately showing what happens between when a client pays an invoice, and when the funds land in your account.

    We've gone over everything about how this works in this article: https://support.waveapps.com/hc/en-us/articles/115004964423

    Thanks, Manually added income to match bank statements and dates etc. Now I see a true balance for "money in transit" that matches future payouts for stripe.

    Thanks

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