Wave Accounting

Set up bank feeds by configuring the cash and bank accounts in the chart of accounts, connecting your bank institution, and importing transactions through uploading bank statements.

Download bank transactions as csv or Excel formats from your institution, upload to wave accounting, and convert them into financial statements through bank feeds and practice files.

Import bank data into Wave accounting by uploading a CSV file, mapping the date, amount, and description fields, and linking the import to a cash and bank account.

Learn to import bank feed data into Wave, build balance sheet and profit and loss statements, and categorize expenses to ensure accurate double-entry accounting.

Learn to record capital expenditures as assets from bank feeds, categorize them as furniture and fixtures, and reflect them on the balance sheet and income statement with depreciation considerations.

Record inventory purchases in wave accounting using bank feeds, showing outflows and updating the balance sheet and the income statement with cost of goods sold under cash or accrual methods.

Record investments paid from the checking account in wave accounting by creating an investment asset, applying bank feeds, and reclassifying to the balance sheet and income statement.

Record owner withdrawals with bank feeds, categorize as draws or miscellaneous expenses, use electronic transfers to create an audit trail, and review 2019 balance sheet and income statement.

Add a customer deposit via bank feeds in Wave Accounting, categorize it as income, and refresh the balance sheet and income statement for 2019 to reflect net income.

Learn to set up sales tax in Wave, apply a 9.5% rate to invoices, and manage cash-basis and accrual implications on reports like the balance sheet and income statement.

Record a loan-related deposit with bank feeds and reclassify it from unclassified income to a note payable liability. Update the balance sheet accordingly.

record an owner deposit and reclassify it from income to equity using the owner investment account, updating the balance sheet and income statement reports.

Set up the beginning bank balance in wave accounting with a journal entry adjusting the checking account and equity (owner investments or draws), aligning the balance sheet and enabling reconciliation.

Reconcile the first month’s bank activity in Wave Accounting by importing data from bank feeds, updating balance sheet and income statement reports, and matching transactions to the bank statement.

Upload April bank transactions from a CSV file into Wave Accounting, verify date, amount, and description columns, then categorize unclassified income and expenses to update financial statements.

Learn to add expenses in Wave for the second month, including bank fees, by tagging vendors and updating the balance sheet and P&L.

Learn how to record insurance in Wave accounting using bank feeds, treating it as a prepaid asset, choosing accrual or cash basis, and updating the balance sheet and income statement.

Record payroll checks in Wave Accounting using bank feeds, allocate to salaries and wages on the balance sheet and income statement.

Learn to add inventory in Wave accounting, applying cash basis, accrual, and periodic methods to set up an inventory account and compute cost of goods sold.

Learn how to record loan payments in Wave, adjust bank feeds and balance sheet, and allocate interest and principal using an amortization approach with accountant help.

Match invoice payments to bank deposits in Wave by linking accounts receivable and sales. Learn to use bank feeds, accrual and cash concepts, and reports to verify deposits against invoices.

Learn to process a single bank deposit covering two invoices in Wave, using bank feeds to split and match payments to invoices and update the balance sheet and income statement.

Record sales receipts and bank deposits using bank feeds, clearing accounts, and cash on hand to match deposits with income in Wave.

Perform a bank reconciliation using bank feeds, adjust the balance sheet and income statement, and verify reconciled items against the bank statement for April.

Upload credit card transactions via csv file or other formats, connect to the bank, and map charges and payments to the correct liabilities and accounts to update financial statements.

Categorize credit card feed data in Wave Accounting by updating reports, assigning transactions to utilities and office supplies, and reconciling with a credit card clearing account.

Reconcile your Wave credit card by importing bank feeds or csv data, match the ending balance to the statement, and verify with the balance sheet and the income statement.