accounting_help

Discussion List

  • 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 10 views 4 comments Most recent by EmmaP October 11, 2019 9:08PMAccounting
  • 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 11 views 1 comment Most recent by EmmaP October 11, 2019 8:49PMAccounting
  • 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 3 comments Most recent by AlexL October 11, 2019 5:21PMAccounting Technical Support
  • 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 15 views 2 comments Most recent by shivatraders October 4, 2019 4:53AMAccounting Technical Support
  • Under the Transactions Tab, prior to the September 2019 update, you used to be able to move a transaction to the 'Personal Account' by opening a drop down menu alongside the transaction and selecting 'Move to Personal', and vice versa. This is now gone in the new update; how do we proceed in moving our transactions between accounts now?
    Delegatus_NZ 22 views 3 comments Most recent by AlexL October 1, 2019 6:34PMUpgraded Accounting Experience
  • 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 11 views 1 comment Most recent by AlexL September 30, 2019 6:27PMAccounting Feature Discussion
  • 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 17 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 12 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 12 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 33 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 26 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 28 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 21 views 0 comments Started by MerlinAccounts_UK August 3, 2019 12:02PM Accounting
  • 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 16 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 22 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 25 views 1 comment Most recent by JamieD July 24, 2019 7:37PMSales & Invoicing Technical Support
  • 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 10 views 3 comments Most recent by BarsinA July 22, 2019 8:12PMAccounting Technical Support
  • 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 ha…
    billtlee 27 views 7 comments Most recent by JordanD July 9, 2019 9:08PMAccounting Technical Support
  • 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…
    NFayyaz 12 views 0 comments Started by NFayyaz July 6, 2019 10:35PM Pro Network Listings
  • 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 20 views 2 comments Most recent by lallen52 July 6, 2019 10:04PMPro Network Listings
  • 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 th…
    MerlinAccounts_UK 127 views 2 comments Most recent by NFayyaz July 6, 2019 9:39PMPro Network Listings
  • 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 69 views 4 comments Most recent by Sergio July 5, 2019 11:16AMAccounting Technical Support
  • 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
    Azel 52 views 4 comments Most recent by chuckg June 25, 2019 3:26PMSales & Invoicing
  • 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 Journal…
    peng_o 155 views 5 comments Most recent by Mikeg June 19, 2019 8:05PMAccounting
  • 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, the …
    MerlinAccounts_UK 64 views 0 comments Started by MerlinAccounts_UK June 18, 2019 2:27PM Accounting
  • 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 operatin…
    ddme 38 views 3 comments Most recent by Kimpton June 11, 2019 7:22PMAccounting
  • 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 132 views 8 comments Most recent by HuskyLogic June 9, 2019 7:07PMPro Network Listings
  • 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 an…
    Mikebrcic 116 views 5 comments Most recent by greenwave June 8, 2019 3:16PMAccounting