accounting_help
Discussion List
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I just migrated myself from Quickbooks Pro desktop(Windows) to Wave. I'm getting used to the new setup and have a question about work flow. In Quickbooks, when a customer paid me(in person), I would open their invoice, click on "receive payment", then enter the payment. At this point, the (check) payment would go into a Quickbooks account calle…burgertime 19 views 5 comments 0 points Most recent by MervynTan August 17, 2019 8:42AMAccounting Technical Support
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How to record purchase return and sales return in wave?Ushm 11 views 3 comments 0 points Most recent by Ushm August 14, 2019 10:30PMAccounting Technical Support
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As if you hadn't already noticed, the first VAT quarter end that is subject to the new MTD for VAT regulations is due for filing by no later than next Wednesday (7 August). If you haven't already done so make sure you are signed up for filing under MTD now as it can take 72 hours before you'll be able to file. If you are going to be late with …MerlinAccounts_UK 20 views 0 comments 0 points Started by MerlinAccounts_UK August 3, 2019 12:02PM Accounting
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I am trying to import old bank transactions into the wave system i downloaded them as both CSV and QFX file types but when i try to import them it tells me "something went wrong with your file upload. Try confirming that the file type is an accepted file type." I've tried several times and several of the files types but it still keeps giving me th…
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How many of you have decided to stay with Wave despite the severing of the bank connections (from September) and the decision not to support MTD for income tax when (if) it comes into effect in 2021? Whist ever there are UK users of Wave we're more than happy to provide support to those users in processing their accounts and vat returns, as wel…MerlinAccounts_UK 20 views 0 comments 0 points Started by MerlinAccounts_UK July 29, 2019 9:42AM Pro Network Listings
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I created an invoice in June & charged my client sales tax. They just came back with their sales tax exemption form. The invoice has been paid. How do I refund the sales tax in the system?Oceanside 15 views 1 comment 0 points Most recent by JamieD July 24, 2019 7:37PMSales & Invoicing Technical Support
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I created a nickname (via my bank website) for my main deposit account and now I am seeing them as two “separate” accounts, or rather the same account, one with the original name and one with the new nickname. How do I tell my system that it is one and the same? Or even better, delete it? Bear with me, I’m new to accounting rules. Thank you!!Creeksideautotag 8 views 3 comments 0 points Most recent by Barsin July 22, 2019 8:12PMAccounting Technical Support
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Hi all, I have been recording my expenses in wave apps using cash on hand before I made any deposits into a bank account. So, I have been running a negative balance for a few months. I have recently made a deposit into a bank account and would like to withdraw money from the business account back to my personal account covering the expenses I h…billtlee 26 views 7 comments 0 points Most recent by JordanFromWave July 9, 2019 9:08PMAccounting Technical Support
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My name is Noman Fayyaz ( Accounting & Tax Financial Services ). I am an EA and MS in Accountancy with over 10 years of experience in taxes and accounting. I am located in NJ but have clients from coast to coast. Through the cloud, I can assist you with accounting, payroll, business formation, and various tax filings such as federal, state, lo…
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I specialize in helping small to mid-sized businesses with many professional services including but not limited to the following: - Tax - Accounting - Bookkeeping - Financial Coaching - Other Consulting Opportunties My game plan is to take a wholistic approach, and evaluate your business to see where I can save you time, money, and he…lallen52 18 views 2 comments 0 points Most recent by lallen52 July 6, 2019 10:04PMPro Network Listings
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6 April 2019 kicks off the new tax year (2019-20), but this is also when the 2019 tax returns (covering the 2018-19 tax year) can start to be filed. . Returns done on paper MUST be filed by 31 October whilst returns filed online have until 31 January 2020 to be filed. Your self assessment tax payments are due in January and July each (save for …MerlinAccounts_UK 98 views 2 comments 0 points Most recent by NFayyaz July 6, 2019 9:39PMPro Network Listings
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Hi, I'm just wondering how to enter a Start up Government Grant into my wave accounts, which Category. Is it a "Capital Interest" or anything else? I also need to know where and how to enter Personal Investment into my wave account? Which category does it go in?Kadthulas2004 51 views 4 comments 0 points Most recent by Sergio July 5, 2019 11:16AMAccounting Technical Support
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Is there a way to attach a photo to the invoice? I have an art gallery and would like to attach in the description a picture of each artwork. Thank you
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Hi all, I'm looking at my Profit & Loss statement and I'm seeing that Wave is recording: Payroll Gross Pay + Payroll Employer Taxes + Payroll Salary & Wages as operating expenses. This means it shows the payroll amounts twice as an expense and this expense is duplicate. When I look at Payroll Gross Pay, it shows in the books as…
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So Wave have announced they're pretty much back stepping from UK & EU customers - all bank links to be terminated from September for users with UK/EU based banks, and a clear decision too to abandon all hope of MTD for Income Tax compliance (potentially to come into effect in April 2021). Where does it leave you, the UK user then? Well, th…MerlinAccounts_UK 63 views 0 comments 0 points Started by MerlinAccounts_UK June 18, 2019 2:27PM Accounting
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Hi I have a 2 part question, 1. Since Wave accounting does not close accounts, and use accounts like income summary, how do we properly update Owners Equity? Without making the December Profit and Loss account wrong, which happens if you use closing accounts? 2. A separate issue, how do we categorizes Interest Expense? Since it is not an operat…
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Hello,I am a professional full time accountant that does bookkeeping/consulting on the side. I work remotely, but am based in sunny Sarasota FL. You will have my personal phone number to call or text with questions. This is done on the side so I charge much lower than a CPA or full time bookkeeper. I am also available during the evenings and wee…troympapa 125 views 8 comments 2 points Most recent by HuskyLogic June 9, 2019 7:07PMPro Network Listings
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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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Getting Error trying to save add end of month balance totals in Wave, driving me mad.. any ideas please? EDIT: I can only update certain months, others throw the error
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Hi guys! Does anyone know an Estonian accountant using WaveApp? Thanks for the recommendations.
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Hi there! I have operated a very small business since 2015 and I have never kept track of things like: inventory, assets, liabilities. My transactions have been extremely minimal, though I do have inventory and I have filed taxes and kept bad records. I want to start a fresh set of books from 2018 onwards, but I am lost as to how I account for…
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Hi all. I am a new consultant that just incorporated and I recently started a contract with a client. I am new to being a business owner and know nothing about accounting. I'd like to list off what I'm going to be doing and I hope someone can tell me if Wave can take care of these items. 1) I know that Wave can connect to my Business Bank Acc…
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Small business based in London looking for accounting services familiar with Wave. Would like help with HMRC filings, VAT (if applicable), and PAYE (for 1 employee).
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The transaction are appearing after the invoices are paid. However for the past 5 days they are still in transit and are not being sent into my bank account. The bank connection has no errors and I have updated it multiple times over the past few days. Could you help in resolving this issue. Thank you.
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so I don't normally use account reconciliation, should I? I run a small self employed business with somewhere between 50 and 100 transactions occur in wave. I have looked back through reconciliation and first month that doesn't match is November 2017 Difference is £52.85 Looks like an invoice was recorded as paid in Wave transactions 25/1…
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Non-recoverable Sales Tax (PST) is acting like a recoverable sales tax, but only for Asset PurchasesHi there, I live in BC where we have both two sales taxes: GST (recoverable) and PST (non-recoverable). When I record an EXPENSE using Wave (see my Shopify transaction), you can see only GST is marked as recoverable, even though I accounted for both taxes in my entry. For expenses, my sales taxes are behaving as expected. However, whe…
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Hola si ocupas ayuda con tu contabilidad y a revisar tu empresa estoy para ayudarte. Vivo en Honduras y he trabajado con contabilidades de Honduras, Guatemala, Panama, Colombia, El Salvador y Mexico. escribeme a [email protected] SaludosJacinto_Cho 13 views 0 comments 0 points Started by Jacinto_Cho April 21, 2019 10:15AM Pro Network Listings
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Jacinto Cho Honduras, Centro America Hola, trabaje en auditoria en Deloitte una de las 4 grandes firmas del mundo. Luego trabaje en Tesoreria en Louis Dreyfus Company, unas de las 4 grandes empresas de Commodities del Mundo. Ahora trabajo en Grupo Cadelga como analista financiero. Tambien tengo mi propia empresa que se llama Desarrollo Emprended…Jacinto_Cho 17 views 0 comments 0 points Started by Jacinto_Cho April 21, 2019 10:02AM Pro Network Listings
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Need help on creating Share Capital Account , common shares and class preferred shared account
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Hi, How should the following two transactions in an S Corp's Wave account be categorized and/or handled? Transaction #1: A $50 personal expense is mistakingly made with the business debit card Transaction #2: In an effort to correct transaction #1, a $50 deposit is made to the business checking account from the owner's personal bank accou…
