Hi, may I know why I can not find the liability accounts in Category? Can someone help? Thanks.
Liability accounts that aren't also Payments accounts should show there. Can you tell me a bit more about what you're trying to account for, and I can help you out a bit.
If you're trying to pay a credit card, you'll have to treat it as a transfer. To do this, select both sides of the transaction and click the Transfer button, in the top part of the page.
Hi Alexia, thank you for your reply. Let me explain my situation. When the credit card transaction flow into Wave, I will debit expense and credit the credit card payable account, so when the debit card company debit to our bank account, I will debit the credit card payable account and credit cash in bank account. This is what I plan to do. Please let me know if my concept is correct or some other way I should use. Thanks.
So in the first case, you would create an expense transaction where the account is your credit card, and your expense account is the category (you pay for the Expense from your credit card).
As for paying back your credit card, you'll make two transactions. An expense to your bank account and an income to your credit. You'll then select both transactions and click on the transfer button. This will categorize both transactions as the two sides of a transfer.
Hi Alexia, thank you for pointing out there are two transactions for the paying back the credit card. I'm not familiar with the transfer button. What do you mean "This will categorize both transactions as the two sides of a transfer"? Would you please explain more. Thanks.
@sstc, we have an article on the Help Center explaining the process. Here you are.
Hi Alexia, thanks for your information.
Hi Alesia, when I click the transaction, it did not open the details, would you please advise what I should do ?
The details are that panel on the right, under the words "Edit Transaction Details" that you highlighted.
Hi Alexia, my transactions showed "transfer to" and "transfer from" in Category, does that mean I already done the "transfer"?
Yes, @sstc, this means you're good!