Debit and Credit - Switched

HybridevolutionHybridevolution Member Posts: 1

Our business is slowly moving over to Wave. We have been struggling to reconcile due to the fact that our ending balance from our bank statements and Wave's ending balance hasn't matched up. We have uploaded bank statements as well. Today we realised that our Credit and Debit transactions are mixed up in Wave/transactions - our statements are correct and we have checked our uploaded statements (this does not correct it). Because the Debit and Credit columns are switched (e.g. according to Wave, our client's payments are seen as an outcome and our Dues and Subscriptions are seen as Income), the Balance column does not match on our side.


  • AlexiaAlexia Administrator Posts: 3,314 admin

    Hi, @Hybridevolution.

    Could you share a screenshot with a few lines from your bank statement? I'll be able to see what's happening, and hopefully, offer a solution.

    Make sure you obfuscate any personal information from that screenshot as well. If you'd rather, you're welcome to send me that screenshot through private message, rather than in public.

  • ShaunCShaunC Member Posts: 2

    I'm having the same issue as above, can you help?
    Some of my invoices that have been payed are listed as debits?

  • ShaunCShaunC Member Posts: 2

    It has doubled my income somehow.

  • ZoeCZoeC Administrator Posts: 388 admin

    Hey @ShaunC, thanks for reaching out! This Help Centre Article might be able to explains things here. Asset accounts, which would include bank accounts like checking or savings, treat Deposits as debits and withdrawals as credits in Wave.

    In regards to your income being doubled can you explain that for me a little but more? Please note that if you have a connected bank account, all of your bank's transactions will ultimately end up getting imported into Wave. What this means is that if you manually record a payment on an invoice, you will end up with a duplicate when your bank deposit transaction gets imported into Wave.

    Because of this, instead of recording the invoice payment manually, you can wait for the bank deposit transaction to be imported, and click the downward arrow on the right of the transaction. Select "Create Invoice Payment", locate the correct invoice, and click "Create Payment". This will effectively close the invoice without having to worry about duplicate transactions getting recorded on your books.

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