accounting_help

Discussion List

  • Hi everyone, I am in the UK and I am looking for some urgent support - happy to pay. I am preparing my business for sale so I am getting my books in order from May 2018 to date. Everything has been perfectly reconciled but I have some questions about: The use of inter company loan as a way of accounting for payments into my business account tha…
    Ava19EW 7 views 1 comment Most recent by Mikeg January 18, 2020 6:45PMUsing Wave
  • I deleted an invoice, but the amount still shows on the P&L. When I click on the income account for the details, there is no activity. There is absolutely no transactions/journal entries for this income account, but it still shows on the P&L. Any suggestions to help correct this?
    MichelleAR 30 views 7 comments Most recent by ConnorM January 15, 2020 2:51PMAccounting Technical Support
  • I have checking account dividends deposited into my checking and I'm not sure how to properly categorize this. I also have the same issue with my credit card issuing cash back rewards which appears as a credit. Does anyone know how to do this? Thanks!
    rudykro 22 views 0 comments Started by rudykro January 8, 2020 4:40PM Find a Wave Pro
  • ERVERV
    I am a travel agency owner, all the money I receive is from vendors paying a commission that one of the travel planners earned. I want my daily bank account to reflect the money that is actually available - even if I haven't paid my travel planner. Right now I record the commission from my vendor as follows: ACCOUNT: Business Checking, DEPOSIT,…
    ERV 15 views 0 comments Started by ERV January 8, 2020 12:11AM Find a Wave Pro
  • Hello, I am looking for a bookkeeper who is experienced with using Wave to help me get started with organizing, transferring and cleaning up my hard-copy bank / credit card / business transaction statements that I have been keeping since March 2018. I have tried to enter the data myself but as user-friendly as Wave is, I am having trouble with t…
    fiolal 18 views 2 comments Most recent by Kimpton January 2, 2020 4:22PMFind a Wave Pro
  • SriSri
    In old system, after entering Journal transaction details we used to delete Bank Transaction row. But I am not getting in new system for Journal transaction. Still I need delete bank transaction row or just keep it. If keep it, what category it belongs? Journal transaction (Image) Bank Transaction
    Sri 12 views 2 comments Most recent by BarsinA December 31, 2019 5:46PMAccounting Technical Support
  • I run a business that allows Pros and other instructors/coaches to use my platform to run clinics, lessons, camps, and other things like this where their students use my site to register. It's kind of like a marketplace where students can look at the various coaches and choose the one they like the best, and at the end of the day, all the registra…
    jord8on 14 views 1 comment Most recent by BarsinA December 31, 2019 2:29PMFind a Wave Pro
  • Hello! I am having trouble understanding how to handle repayments for expenses paid by Shareholders before forming the company and I am afraid that I may have already made some mistakes. This is what I've done so far. In chart of accounts, I've created the following accounts: * Under Liabilities & Credit Cards / Due to You and Other Business…
    MaxAR 16 views 0 comments Started by MaxAR December 26, 2019 1:23PM Accounting Technical Support
  • I recently sold my business vehicle and paid off the business loan with the proceeds. Previously, I had created a journal entry for a long-term asset for the vehicle and an account for the business loan under long-term liabilities. The vehicle was not fully depreciated. How should I categorized the revenue from the sale and the pay-off of the l…
    chanyockert 9 views 1 comment Most recent by Mikeg December 24, 2019 12:20AMGeneral Discussion
  • I have a small business bank called Small Business Bank and I cannot get Wave to find it or reconcile statements even after I upload .csv files I would love someone to talk me through this over the phone. Feeling stuck and need to get an invoice out. Im very new to Wave
    MaxAnderson 29 views 1 comment Most recent by Mikeg December 12, 2019 1:19AM
  • Flat Rate Fees! Business people need to save time and money, and know the "bottom line". Whether you are a start-up or established business, winding down or selling, I can help. Backlogs, shoe-box accounting, sorting out messes and more are my specialty. Financial Statements to Balance Sheets, Tax Preparation working with Tax Practit…
    AccountsPro 8 views 0 comments Started by AccountsPro December 10, 2019 11:11AM Pro Network Listings
  • Is it possible to change the Invoice Payment description, instead of just saying "Invoice Payment" to "Invoice Payment from Customer Name" Though it is in category description, but it would be very helpful if the transaction description is updated for both bill payment and invoice payment with the vendor and customer name. Spec…
    cetustone 13 views 2 comments Most recent by cetustone December 3, 2019 5:12PMAccounting Technical Support
  • When we input multiple invoice payment through transaction=>add income, the invoices gets updated but the cash flow does not update accordingly, and if I make any edit from the transaction the invoice I edited is updated but other invoices in the same transaction is getting a second entry, and all the other invoice is showing paid double or tri…
    cetustone 9 views 4 comments Most recent by cetustone December 3, 2019 5:10PMAccounting Technical Support
  • Would anyone know why my debit transactions would show in the credit column and vise versa after uploading my bank statements? I went to reconcile, one month reconciled, but the transactions were in the wrong column. Is there any way to address this? I even tried to edit the transactions, but in the edit box they are showing up correctly as a Depo…
    Pamela 4 views 6 comments Most recent by AlexL November 25, 2019 5:12PMAccounting Technical Support
  • Hi all, longtime user first time caller. I currently am starting a hospitality business (motel) and I'm trying to update a balance sheet to include the value of the real estate and the liability of the loan and am having trouble creating the right accounts to accuately represent in the reports. Any suggestions on how best to handle? Thank you in a…
    mentalsweat 9 views 3 comments Most recent by Mikeg November 14, 2019 12:15AMUsing Wave
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    Athar_Accounting 24 views 0 comments Started by Athar_Accounting November 1, 2019 1:17PM Pro Network Listings
  • In balance sheet in reports, I see non recoverable tax showing as negative liability for a purchase where in actual it is non recoverable thus shall not show up as credit in liability.
    shivatraders 7 views 3 comments Most recent by shivatraders October 8, 2019 8:45PMAccounting Technical Support
  • I started using this app in June'2019 and in initial days i was just playing around and understanding. Initially my new company company bank accounts were being setup so entered the amounts to cash in hand account instead of my bank account. one of the entery of $39 was marked as reconciled on June 30th but later i moved all entries of Cash in han…
    shivatraders 12 views 2 comments Most recent by shivatraders October 4, 2019 4:53AMAccounting Technical Support
  • Hi All, Thanks Wave for working on great app like this, I understand you are trying to make it better everyday but i want to point out my main issue here. I have a small trading business and i want inventory tools. Lets say i buy product A at $10-10 qtty and sell for $12 -5 qtty. Now system shall tell me product wise how much profit i earned onl…
    shivatraders 15 views 1 comment Most recent by AlexL September 30, 2019 6:27PMAccounting Feature Ideas
  • Throughout the year, I have been creating invoices for a customer. He paid each time. At the beginning of the following year, he sends me a 1099 MISC. I believe on a Schedule C I have to report the 1099 received but do I have to remove the income from this customer in wave apps for reporting purposes? I’m a little confused. Please provide clarity.…
    mrv717 12 views 3 comments Most recent by Mikeg September 20, 2019 8:22PMSales & Invoicing Technical Support
  • 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 week…
    troympapa 26 views 0 comments Started by troympapa September 16, 2019 4:57PM Pro Network Listings
  • Hello, I have committed an accounting sin of electronically receiving business income into my personal checking. It was easier for the client as electronic transfer of funds was a hassle into my business account. I did diligently electronically transfer all of these income funds to my business checking. Now I am left to sort out the Wave accoun…
    FLDave 15 views 4 comments Most recent by FLDave September 14, 2019 8:35AMAccounting Technical Support
  • We FinancialsBook.com offer Accounting, Bookkeeping, Tax & Financials Reporting related services within very economical budget. Our clientele have diversity of wide businesses and range from startup & SME to corporate companies. Our motto is to provide accurate and robust services to client for an effective decision making.
    adminfb 14 views 2 comments Most recent by adminfb September 7, 2019 6:11AMPro Network Listings
  • So, 7 August 2019 was the deadline for filing the first MTD VAT returns for those businesses that were UK VAT registered with taxable turnover above the UK VAT registration threshold. How many of you had to file under MTD? Did you use Wave's VAT100 report and then link this to suitable bridging software? What did you use and how did you get on? …
    MerlinAccounts_UK 85 views 0 comments Started by MerlinAccounts_UK September 3, 2019 12:38PM Making Tax Digital
  • How to record purchase return and sales return in wave?
    Ushm 61 views 4 comments Most recent by ChelseaK August 21, 2019 6:30PMAccounting Technical Support
  • 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 acc…
    burgertime 40 views 5 comments Most recent by MervynTan August 17, 2019 8:42AMAccounting Technical Support
  • 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 th…
    MerlinAccounts_UK 31 views 0 comments Started by MerlinAccounts_UK August 3, 2019 12:02PM Making Tax Digital
  • 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 gi…
    Bree 13 views 3 comments Most recent by Myron August 2, 2019 6:29PMBank Connections
  • 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 well …
    MerlinAccounts_UK 23 views 0 comments Started by MerlinAccounts_UK July 29, 2019 9:42AM Pro Network Listings
  • 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 37 views 1 comment Most recent by JamieD July 24, 2019 7:37PMSales & Invoicing Technical Support