accounting_help
Discussion List
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Hi there, This is my first year with wave and I am just finalising my accounts, I am just checking I have created entries for my starting balances, however when I pull off the account balances report it says all my balances are zero, they should show my entry as the starting balance, not zero, is this correct? ThanksJusmih 28 views 1 comment 0 points Most recent by Mikeg February 19, 2019 3:04AMAccounting Technical Support
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How should I handle cash back rewards from the credit card I use for my business? The cash back reward gets automatically applied to my balance, reducing what I owe. I don't want to chart it as Income. Should I create a new chart of account in the Assets or Equity section specifically for the cash back reward? Any other suggestions?
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Hi, On dashboard in the box below "Bank Accounts & Credit Cards" it shows £2,266.59 Under Accounts > Transaction in the drop down box it shows £1,973.46 Why are they different?
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My fiscal year end is june 30. This makes using reporting in wave a real pita as far as I can see so far. I have told wave my year end, but there are only calendar year pre-sets for date ranges in the reports. There should be fiscal year date ranges as those are more important.
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Hello All, I'm running a web Design business out of my house and I'm wondering how much I should be reimbursing myself for internet and cell phone expenses as they're both critical for the business. -Thanks in advance! Curtis
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Hi, I'm a childminder and need to record meals taken by children as an expense (not charged for separately to care). Is there a way to do this easily as a reoccurring expense as I need to add different numbers of meals on different days.
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Hi everyone, I'm a new Australian-based small business owner and I'm struggling with a problem with Wave. Everything has been working well, however I have noticed that my 'All Accounts' balance is inaccurate because it contains duplicate transactions. For example, my 'Payments by Wave' page will show "Invoice payment for Invoice 5" and then my b…brightstar123 13 views 0 comments 0 points Started by brightstar123 February 12, 2019 4:44AM Accounting
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I'm completely new to book-keeping so thank you in advance and sorry if these are stupid questions- 1) If I paid for advertising for my company, and someone paid me for their portion, which I had already paid for, how would you show that? 2) If I receive payment for a project, that's split 50/50 how would I show that in accounting? I've alre…
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I have my biz CC and my biz bank account connected to Wave. When I make a purchase using the CC the individual purchases are automatically imported where I can adjust and verify them. Then I pay the CC from my bank account. This is automatically imported as an expense. It's not really an expense, though, as the expense was recorded when I impor…
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Folks: I have an asset-based business where I own an asset that is rented out and I receive a settlement statement each month from the management company. I record this through a journal entry to record each month's performance. I've connected my bank accounts, and I end up with all these duplicate entries. As an example, I record an entry on t…
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Birkley Accounting specializes in entrepreneurial services in order to relieve the bookkeeping burden a rising business faces. My goal is to help refocus your energy back on advancing your craft. I’m based in Nashville, Tennessee. Not located in Music City? I’ve been a Wave Accounting user since 2012, and remote work is most of my business. www.…BirkleyCPA 6 views 0 comments 0 points Started by BirkleyCPA January 31, 2019 7:05PM Find a Wave Pro
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I need to submit my business return to CRA and because my first year was very simple (zero revenue, very few expenses), I don't want to use my accountant for this (I have another business that is much more complicated and he and my bookkeeper use Quickbooks to manage bookkeeping and accounting for that). From what I can tell, Wave doesn't have …
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Hi, I'm a sole proprietor, and needing assistance with my bookkeeping. I would like to meet with a professional to make sure I'm on the right track and keep better organized. HELP, please!
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Hi! Wave newbie here. On any given week, I have multiple customers--some recurring, some one-time service users. I'm going to set up my repeat customers as a CUSTOMER, but what about my one-timers? Should I create a CUSTOMER sale for them or make a transaction only? To give you an example: In a 5 day work week, I can have up to 25+ customers …
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When I verify a receipt, it posts it to accounting, however there is nearly always another transaction there that has automatically imported from my bank account, is there any way to merge these? Otherwise I end up with two transactions with screws with my accounting My work around might just be to disconnect my credit card from Wave as then I'…
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When I enter receipts from expenses that I charged on my credit card how do I enter the payment made to these said expenses. Doing a transfer does not work as i have been told to do in the past because I am paying the amount owing to the card in a lump sum and not for each individual transaction therefore, the amounts don't match. When I enter the…Bonnie_67 36 views 3 comments 1 point Most recent by eliteacchk December 26, 2018 1:37PMSales & Invoicing
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Hello, I wondered what I should put a car park ticket as in my expenses? I'm a wedding photographer and had to pay to park at this particular venue. I could only see car insurance, fuel and similar as separate sections. I've just decided to go from my silly spreadsheet to this and am finding it massively helpful already. TIAsophieannphotography 17 views 1 comment 0 points Most recent by Erik December 20, 2018 7:04PMAccounting
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Unfortunately it's too late for us to take on new cases that are wanting their 2018 returns done and filed by the deadline BUT we're always looking to engage new clients, even if it means you are going to be late with your 2018 return. Indeed, if you sign up with us in January we will guarantee filing your 2018 return BEFORE the daily penalties ki…MerlinAccounts_UK 29 views 0 comments 0 points Started by MerlinAccounts_UK December 18, 2018 10:56PM Accounting
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So, Wave was able to import my Wells Fargo bank statements back to September 9, 2018 for a new account. I went in to Wells Fargo to try to get a file showing all transactions from January 1, 2018 to September 9th, 2018, but the file format won't upload into Wave. Is it possible to enter the transactions from January 2018 to September 2018 manually…
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"I'm trying to account for all the Stripe merchant charges over the year but finding it difficult. I just tried to contact support with the following but got the message "there was an error processing your request please try again later" - not great. Anyway apologies if I'm missing something obvious but this my support request: I'm looking at t…bodgerrolls 15 views 1 comment 0 points Most recent by bodgerrolls December 11, 2018 9:41AMTechnical Support
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I am new to wave and also to my business. I have incurred some business expenses that i have paid out of my personal funds. Now i have added these individual expenses into wave accounting transactions and associated to a personal account in lieu of my business checking account. Now to balance my books, how do i make an entry to get reimbursed from…ProSmartConsulting 62 views 1 comment 0 points Most recent by eliteacchk December 8, 2018 3:44PMAccounting
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Hi everyone I'm just getting started with Wave. So far I'm really impressed by the interface and ease-of-use! I have run into one error though that I really can't wrap my head around. I'm a complete accounting novice, so sorry in advance in case I don't understand some of your advice! Background I am a sole trader working in the music in…alexjones_26 59 views 2 comments 0 points Most recent by JordanFromWave December 6, 2018 12:26AMAccounting
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Hi Community, I've bought some equipment to be rented out but I'm curious as to the accurate way to record this within Wave. When I upload the receipt, wave automatically suggest (correctly I suppose?) that this goes into (debit) an expense account and comes out of (credit) an asset account. That's all well and fine, but I believe this shoul…
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Hello, This may because I am fairly new to Wave's accounting software but something very interesting is happening. I linked a Credit Card to the Wave app because that's what is used for all business expenses other than expenses that need to be drafted from a checking account. When the expenses come through, I categorize them as appropriate (…
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Hello I'm the Treasurer for a school PTA, so using the free version of Wave. Nothing particularly complicated and I've been using it for a couple of months and have a basic handle on it, but I don't see how I can add a .pdf to a transaction (i.e. a receipt and other documents linked to the transaction from the bank reconciliation) like you can …
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I've done a search and can't find any questions or answers that come close to what I am looking for, so here goes. I am a maker and I just set up formal business and accounting structures for my work this year. As of right now, I am only recording material costs as an expense and product sales as income. My sales volume and product variety doe…
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Hello. My name is Diyor and I'm new to business accounting. I imported goods and received an invoice from customs broker including GST for the goods purchased. In order to record it properly, should I create entries that reflect separately the services of a customs broker and GST and GST for Goods as a separate entry? Please kindly advise what wou…
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Is there a Cash only view of an Income Statement as oppose to Accrual?Shewster 11 views 0 comments 0 points Started by Shewster November 23, 2018 2:04AM Technical Support
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Hi guys, I am struggling to load items onto an invoice. When clicking add item which opens the drop down, then clicking on one of the items, nothing happens. I tried to create new items directly on the invoice, which does create a new item, but when I click “save and continue” I get an error message stating ”Items: This field is required”. …Sebastian 9 views 2 comments 0 points Most recent by Sebastian November 16, 2018 10:26AMTechnical Support
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Hello, I'm having a strange problem. My Transfers In and Transfers Out between my checking accounting and Paypal account are showing up on my Income Statements as Uncategorized Income and Uncategorized Expenses, respectively. This is obviously messing up my totals quite a bit. Could anyone offer some help?atelierMUSE 26 views 0 comments 1 point Started by atelierMUSE November 14, 2018 5:36PM Technical Support
