accounting_help
Discussion List
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Hear me out. Something very odd happened when I was writing in today's sales. I recorded everything as usual, but then I noticed my cash flow's balance wasn't matching "all accounts" cash, which is the cash on hand shown in the balance sheet. I doubled checked everything, and found out through the Trial Balance that it is unbalanced by t…Aldo 27 views 5 comments 0 points Most recent by Aldo April 5, 2020 3:26AMAccounting Technical Support
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I work as an online Bookkeeping, Remote Bookkeeper, Off-Shore & Freelancer to clients from all walks of life. 🔹I am very passionate about showing the discrepancy in results, 💡Inquisitive to learn and grow. I facilitate the primarily for US-based companies all Accounting&Bookkeeping up to taxation right from the scratch with the best fit …Veera_Gogasani 5 views 0 comments 0 points Started by Veera_Gogasani April 4, 2020 9:32PM Pro Network Listings
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Hi Community! I run a boutique Vacation Rental Management Business and I want to set up my accounting correctly in Wave. We currently manage 6 properties, and plan to grow to 30 in one year. To be clear we do not own the properties, we are simply managing all aspects of them. My expertise is with operations, not booking keeping therefore I nee…Raverpoke 16 views 1 comment 0 points Most recent by Fuzionomics April 3, 2020 8:11PMFind a Wave Pro
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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!
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We have a vehicle that was originally purchased prior to starting the business. Once the business started, it was used for the business. I have transferred the remainder amount of the loan at the time of starting the business. Some payments are being made directly from the business account while some payments are still being made from a personal a…SouthlandOutdoor 24 views 5 comments 0 points Most recent by magicwill April 2, 2020 8:11PMFind a Wave Pro
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Today, traditional accounting solutions such as bookkeeping and taxes are no longer sufficient to meet the realities of SMEs. With the popularity of digital technology and the emergence of new business models, it is essential for any company to develop innovative competitive advantages. To do so, the first step is to assess the company's financial…
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We have had a few pieces of equipment get stolen off of our landscaping trailer, I'm not sure how to go about accounting for this. Also, we have a couple pieces of equipment that have been sold after purchasing, how do we account for the sale of such pieces?SouthlandOutdoor 22 views 22 comments 0 points Most recent by Mikeg March 20, 2020 8:27PMAccounting Technical Support
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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 60 views 9 comments 0 points Most recent by NicoletteB March 18, 2020 6:35PMAccounting Technical Support
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Hello all, I was wondering what the process would be if I’d like to setup my ETF investment accounts on my wave bookeeping accounts. Basically amounts are debited via my checking account and then ported over to an investment account. Since this isn’t really a withdrawal and more of a deposit into another account, how should i go about allocating …Violanation 104 views 4 comments 0 points Most recent by scameron March 14, 2020 1:16PMAccounting Technical Support
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Hello, My business has a piece of real property as an asset that is being developed- there are expenses such as building material costs, permits & Govt fees & such that need to go to increasing the basis value of the asset, how do I enter this in Wave so that it comes out on the Balance sheet & P&L correctly??Bookkeeper1 12 views 7 comments 0 points Most recent by Bookkeeper1 March 4, 2020 1:31AMAccounting Technical Support
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Hello, I hope this is the correct category for my question. How do I account for services rendered that were donated? We are working with a non-profit that provides free cleaning to cancer patients. We did the work and they will provide us with a donation receipt in the amount we would normally have charged. Do I create an expense account title…AnthonyG 16 views 15 comments 0 points Most recent by EmmaP March 2, 2020 4:00PMAccounting Technical Support
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Not sure if this is the correct area for this question. I just purchased multiple assets that will need depreciated. Is it best to put them all in 1 depreciating asset account with 1 corresponding Depreciation account and just put all the entries there? or should I create a new account for each asset with it's own depreciating account and an acc…Farmer_Frank 13 views 1 comment 0 points Most recent by Mikeg February 28, 2020 2:36AMGeneral Discussion
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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 …brightstar123 189 views 4 comments 0 points Most recent by Carver0611 February 28, 2020 12:25AMAccounting Technical Support
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How do I handle transactions if I have multiple businesses but are using the same accounts (credit card and bank)? For example, I imported my credit card to both businesses/accounts in Wave. Do I delete the transaction in one account, keeping it only in the appropriate account? Or, do I refrain from deleting and categorize them appropriately?rosemaryhitchens 23 views 1 comment 0 points Most recent by AlexL February 24, 2020 8:10PMAccounting Technical Support
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I am just converting my hobby of raising honey bees into a business. So I need to know how to classify purchases I have made for bees and the actual hives themselves. From live bees, to the wooden boxes what type of accounts do I put them in? The Wooden ware has a life expectancy of 20 years so would need to depreciate it. Bees, 1 year...Farmer_Frank 20 views 1 comment 0 points Most recent by EmmaP February 20, 2020 9:39PMAccounting Technical Support
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Hi all! I thought I would have found this topic in the archives but my search didn't turn up anything that helped. I have a C-Corp w/ an S-Corp tax designation that received a Federal Tax Refund from the IRS for last year. I'm doing the 2019 Acct Recs and I'm not sure how to treat it. I was going to create a new account with just that title &quo…Pop_BookKeeper001 59 views 4 comments 0 points Most recent by Mikeg February 18, 2020 7:01PMAccounting Technical Support
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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 an…Mikebrcic 375 views 6 comments 0 points Most recent by Silverfox February 18, 2020 6:36PMAccounting Technical Support
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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 45 views 3 comments 0 points Most recent by Mikeg February 15, 2020 12:18PMAccounting Technical Support
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Hi Folks... I'm new to using Wave and have figured everything out but one thing: where in the world do I log professional development courses that I have purchased to grow my own skills? I've created a category for it so it can be posted correctly, but I'm not sure if I would enter it under Purchases-"Receipts" or Purchases-"Product…jacki0486 22 views 3 comments 0 points Most recent by EmmaP February 13, 2020 3:51PMAccounting Technical Support
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I have a company that has 4 owners. I have set up the 4 Owner's Investment and Draw accounts for each owner to properly track investments and draws, but I'm hesitant to set up Retained Earnings into 4 accounts if the profits will not automatically be allocated to each owner account. Will I have to do a journal entry at the end of the year move pro…S_Coleman 32 views 3 comments 0 points Most recent by Mikeg February 12, 2020 9:36PMAccounting Technical Support
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I am a TV writer in Quebec in need of a Wave friendly accountant to prepare the Revenu QC and CRA tax return of myself and my boyfriend. You can email me at [email protected]PenelopeLaurence 22 views 0 comments 0 points Started by PenelopeLaurence February 6, 2020 10:14PM Find a Wave Pro
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Hi, I have uploaded a receipt from the app and approved it and it is now in done status and I can see them in the back office. So this is great. BUT I can't find this record in my accounting -> transaction, it is not recorded there. I am new to wave for according my research and from what I understand when a receipt is done, it should appear i…chrisswintoo 20 views 2 comments 0 points Most recent by chrisswintoo February 6, 2020 9:37PMAccount Settings Technical Support
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As our business has grown WAVE has grown with us! Ease of invoicing has made it so smooth for our website design and SEO company to invoice clients. We love the new you WAVE, looking good! - Susan WebMax dot CA (We are happy to assist any micro or small business - ask away!)webmaxdotca 17 views 0 comments 0 points Started by webmaxdotca January 31, 2020 4:28PM General Discussion
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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…
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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,…
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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…
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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 TransactionSri 25 views 2 comments 0 points Most recent by BarsinA December 31, 2019 5:46PMAccounting Technical Support
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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…
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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 24 views 1 comment 0 points Most recent by Mikeg December 24, 2019 12:20AMGeneral Discussion
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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 WaveMaxAnderson 72 views 1 comment 0 points Most recent by Mikeg December 12, 2019 1:19AMAccount Settings Technical Support
