Wave Accounting Tutorial for Small Business | FREE Accounting Software (Beginners Overview)

[@FirstImpressionMarketing-cc2bu]

This was super helpful! Thank you for the quick tutorial! (:

[@StewartGauld]

Glad it was helpful!

[@AdrianRConant]

Hi, thanks for the video! Just one question: Can you set rules to categorize automatically income/expenses transactions?

[@StewartGauld]

Yes, absolutely you can for automatic reconciliation.

[@jeanninemcwhorter919]

If you figure out how to set these rules please share😊

[@rmuscat1276]

Wowwww! Thank you so much. This app is a dream come true. Thanks for helping me get it going so fast!! ♥️♥️💋

[@StewartGauld]

Welcome!

[@Ronin460]

Hey thx for the information. Do you know how I can connect to Wave to Loyverse POS? That would be a great for me and saving tons of time.

[@StewartGauld]

I will have to look into this mate

[@Ronin460]

@@StewartGauld please let me know if you find something! I will share your contents with my peer business owners!

[@jamesmellosiii9639]

Can you please do a video for wave accounting for individual users who just simply want a place to easily keep their accounting records in order to pace them along to their bookkeeper?

[@StewartGauld]

Hey James, I will look into this mate.

[@ipsolateral1]

Great job. Thanks for valuable information!!!

[@StewartGauld]

Glad you enjoyed it!

[@mariabenjumea8403]

Hi guys, thank you so much for this video, a question, if I do not deal with customers at all ( a third party does it for me), who do I use as my customers? I get paid monthly by my third party company. Thank you for any help.

[@StewartGauld]

Welcome Maria! I would use the third party provider and set them up as customers.

[@etiennedevoliere]

Thanks for all

[@StewartGauld]

Welcome!

[@NinaRossBusiness]

Thank you for the video.... clear and informative.

[@StewartGauld]

Glad you enjoyed it!

[@michaelthomas3476]

Hey Stewart thanks for this video. Very thing I need for my small business. I'll let you know how it goes in a month or two.

[@StewartGauld]

All the best!

[@chereealexander7087]

Great overview! Thanks!

[@StewartGauld]

Glad it was helpful!

[@katherineaikenhead74]

Love the video! How do you categorize federal tax due and the payment

[@StewartGauld]

Good question! This is something you will have to talk to your accountant.

[@edwardkomito7881]

Hi Stewart. Let's say you want to enter individual transactions from a credit card statement into the ledger. Further assume there are multiple transactions from the same company. I don't want to set up a recurring invoice since these are individual transactions. Any invoice would be paid to the credit card issuer, but I want to keep close track of different categories of expenses within the credit card statement. Is there a way to create a recurring vendor w/o creating a recurring invoice? Also, are you aware of any way to export or upload the ledger to either another software program or to your own accountant? Thanks.

[@StewartGauld]

Hey Edward, I suggest you talk with the team at Wave to support you on this. Both of these are possible. I will keep this in mind adding to an updated tutorial in the future.

[@fanmrfoxx7487]

Great Video In Customer Center is there a way to add a CC email? or only a comma with second email to have 2 recipients? I have 1 client that wants invoices sent to 2 people. I would prefer this be automatic and would like to suggest to the software engineering team to set up another box for CC email. Perhaps a bcc email also. This is a feature on QB desktop but not the online version. I want to be done with QB! way too expensive for my small business with no employees.

[@StewartGauld]

Thanks, I will have to look into this.

[@markkeith4907]

Love the informative content mate, don't regret subscribing.

[@StewartGauld]

Thanks for that Mark! Glad you're getting value.

[@乐学好静]

Thanks!How to record transfers from a personal account to a business account.

[@StewartGauld]

Updated tutorial coming soon! Will cover this.

[@mnblkjpoi-z2h]

What do you do when you have an item you buy and resell? It doesnt appear to allow you to store the same item twice (at the different price points)

[@StewartGauld]

Hey! I'll have to look into this.

[@KrestEngineers]

Thank you for the great video. At year end, how to transfer profit to owner's equity or retained earning to close out the year?

[@StewartGauld]

Hey, Good question, you will need your accountant to help you with this.

[@thogmey]

Nice guys and good explanation. Thank you

[@StewartGauld]

Glad you liked it!

[@allthingsnadinemaria]

Great information

[@StewartGauld]

Glad it was helpful!

[@randythemitoman]

loved your synopsis

[@StewartGauld]

Thanks

[@carmmontemonyo6653]

Thank you for clear tutorials

[@StewartGauld]

You are welcome Carmelo!

[@escamilla30]

Can you do a tutorial on how you would setup Wave for the Profit First method?

[@StewartGauld]

I will look into this! Thanks!

[@pkellyspurles]

I love Wave, but after setting it up this morning, it now seems to think I am outside Canada and the US and the webpage shunts me to Zoho Books. The only thing I can think of is that I was using an e-SIM at one point today. I’ve since deleted cookies etc and am definitely in Canada. Still no luck! I spent a few hours setting it up and actually quite liked it. Except now I can’t get back in… Weird times.

[@StewartGauld]

Thanks for that. Interesting.

[@chanex5324]

If a LLC, taxes as S-corp can Wave slow you to pay yourself from business account into personal checking? I believe so, but making sure this isn't accounting solely. TIA

[@StewartGauld]

Hey! Yes I believe so.

[@WhatEver-fv2vd]

That was helpful! Thank you!

[@StewartGauld]

Welcome!

[@ryankoser7935]

I’m moving from quick books to wave. So let’s just say my end off the year bank balance was $5000. How do I put that number in wave to pick up where I left off with quick books?

[@StewartGauld]

Hi Ryan, You can upload your reporting files from quick books to Wave. I suggest you get in touch with Wave if you need help with this.

[@JackJakich]

Amazing ! But im grocery distributor , i have +1000 product on excel sheet ! No way to add them as copy ?

[@StewartGauld]

Welcome! Hmmm I don’t think this would be the best tool for you.

[@turtlesflyunderme]

Thanks for the vid!

[@StewartGauld]

Our pleasure!

[@DeborahColeman-y3h]

Can you use Square POS with wave accounting? I already have Square set up with my bank account and set the up the card reader to my cell phone for payment. I want an accounting program and I am looking into wave. Does wave and square work together, and if so, do you have a video on this. Thanks :)

[@StewartGauld]

Hey mate, I will have to look into this. Great question! Thanks.

[@DeborahColeman-y3h]

Thank you for looking into this. I look forward to hearing back from you. Cheers, Deborah :)@@StewartGauld

[@JackTheRipperLK]

Thank you for this

[@StewartGauld]

My pleasure!

[@mandeqeid8516]

Can Wave accounting software be used lik QBO? And if so does it come with subscription?

[@StewartGauld]

Hey! No I do not think so.

[@georgenemurpy4165]

Wave seems pretty straight forward. I have been a QB user for many years and their new payment plan does not work for me with my two accounts. I did not see anything about backup. How can I save my data or does Wave provide some kind of back up?

[@StewartGauld]

Hey Georgene, All you data is safe but there is not current backup. You can export your transactions.

[@sararoz6779]

Thank you dear

[@StewartGauld]

Welcome 🤗

[@Matiullahkhan-yz5pj]

Hi, I want to use wave to recieve payments from clients as a company name. to crate wave account should I need to register my business.

[@StewartGauld]

Yes you will need to add your business details.

[@buddhamathew6906]

Hello, Thank you for the information. How easy is it to merge from QB's to Wave. I want to make the switch but want to make sure all my accounts/clients / reposts transfer well? Thanks

[@StewartGauld]

Welcome! I suggest reaching out to Wave and asking of they can help you with this for a smooth transfer of data.

[@ayoubhossain3895]

Would you please share how do i import invoice from Google sheet into Wave?

[@StewartGauld]

Hi mate, This depends what you are trying to import. I will keep this in mind for a tutorial in the future. Cheers

[@Tom-lo4xm]

Stewart, we are new nonprofit. Currently our needs are simply to create a log of donations and expenses to submit to an accountant. How is this accomplished in our wave account? Our needs will grow, but this is al we need. Obviously, I'm not an accountant...lol

[@Tom-lo4xm]

What I mean is we'll manually enter this information.

[@StewartGauld]

Hey Tom, I'll have to look into this. I suggest bring an accountant on board.

[@Tom-lo4xm]

Thank you Stewart!

[@jeanninemcwhorter919]

Do you show more detailed accounting in wave?

[@StewartGauld]

Not yet!

[@jidgerydooo]

Hi, do you know if you can invoice and take payments by bank transfer? Also, can Wave be used in the UK?

[@StewartGauld]

Hey mate, At the moment Wave is not in the UK.

[@PeterTransportation]

I signed up for wave as a business, I put my business info, but when I want to connect the bank, it doesn't offer to connect to Santander bank Business, it gives me only personal. I can't find a way around it. Could you please explain how to connect to business account?? Thank you!

[@StewartGauld]

Have you reached out to Wave support?

[@mohanakumar5706]

Thank you for Good Information.

[@StewartGauld]

You are welcome mate!

[@PedroCruz-tg9uq]

What about payments if credit card transaction have a fraud detection or protection verification of transaction

[@StewartGauld]

They have a protocol in place for this. You can read more about this on their website.

[@talinizic4269]

Thank you.....how and where do you upload your balance forwards.

[@StewartGauld]

Hey Tali, Thanks for that question, I will have to look into this.

[@songbirdpersonalassisting]

Hey there! I was wondering what category you put for the "Transfer from Wave Payments to your bank account" transaction. When I put "Transfer to bank, credit card, or loan" then selected the business account it created ANOTHER transfer. The bot doesn't seem to be much help

[@StewartGauld]

Hey mate, I will have to look into this!

[@songbirdpersonalassisting]

@@StewartGauld Thank you so much! I'll wait around for your response

[@4tun8nanette]

I think this was 1 of the issues I had that caused me to stop using Wave. Also, I couldn't seem to disable the sales tax calculation feature. I'm a service business, no sales tax.

[@phorntheptextile715]

is there a way to Export all the invoice as PDF in one go? instead of exporting one bill per time

[@StewartGauld]

Yes you can.

[@phorntheptextile715]

@@StewartGauld How?? is there a video to show?

[@TheEmrotti]

I just joined, How can I transfer all my transactions from QB to Wave? Pls send a link Thanks

[@StewartGauld]

You will have to download and upload your data. I suggest getting help from Wave.

[@rondasutton5715]

Is Wave online accounting? Do they offer Desktop?

[@StewartGauld]

Yes they do!

[@birhanubelete20]

Hey can i use wave for a restaurant and cafe business?? and when selling one product there are a lot of items that we can add so is there any way to manage the sales of product and ingredient items added to the product

[@StewartGauld]

Yes you can use Wave to mange these types of businesses.

[@laramiller9966]

I am looking at moving to Wave from QBO. Is it possible to import from QBO to wave?

[@StewartGauld]

Hey Lara, I will have to look into this.

[@jacquelinejackson5191]

Thank you, but when using Accounting section, I need assistance For instance how to enter a transaction whereas a check from a customer was returned

[@StewartGauld]

Hey Jacqueline, I suggest getting into touch with Wave support to help guide you through this process.

[@jaisilroy2176]

Hai, Can you please tell how to download the PD7A (statement of current source deductions) from this software.

[@StewartGauld]

Hey mate, Good question, I will ask my team about this.

[@RCSwingAway1]

I have customers who are consumers who I will invoice and ask to pay right away and I have customers who I will invoice and give terms to. Can the invoice have a link to pay? I do not have an e-commerce site.

[@StewartGauld]

Yes you can link Stripe and collect payments.

[@RCSwingAway1]

I am confused. I got an email from Wave payments asking me for payment and processing history and it says they do not accept third party payment processing. @@StewartGauld

[@RCSwingAway1]

And they want bank statements but I am a new company so i am just setting up so I can get started.

[@ropecrewman36]

Thanks for the very thorough tutorial! Quick question: If I've already been doing bookkeeping on spreadsheets, is there any way to upload the data to Wave?

[@StewartGauld]

Hey, Yes you can upload to Wave, however, I suggest engaging with Wave for the correct migration.

[@ropecrewman36]

@@StewartGauld OK. Thanks!

[@bronazshare2261]

may ask, why i need to register for zorobook first.. i don't need that.. did anyone have the same problem

[@StewartGauld]

Hey! You shouldn't need too!

[@JRoseBooks]

Do you know how we’d enter Amazon sales? For each of my books? It seems the only category is “sales.” I’m wondering if I have to add like 50 booksellers as “customers?” I’ve had Wave for awhile and I can’t seem to figure it out. :/

[@StewartGauld]

Hey mate, Thanks for the question. I will have to look into this.

[@NicoleLepore-m7s]

Can you post General Journal entries with Wave?

[@StewartGauld]

Yes you sure can.

[@alexrileyfoxhound5453]

With this software are you able to send a Terms and Conditions form that a customer can digitally sign?

[@StewartGauld]

You will have to integrate another software for this.

[@alexrileyfoxhound5453]

@@StewartGauld Thanks

[@AishaJabbi]

How to receive money through wave app

[@StewartGauld]

You can setup the payment gateway to get paid.

[@jomariang6161]

Do you have a video on how to give access to an accountant of your choice?

[@StewartGauld]

Hey mate, I do not sorry. However, there are many Wave resources to help you with this.

[@4tun8nanette]

I am a service small business. I dont need yo track sales tax. Can sales tax calculations be disabled?

[@StewartGauld]

Yes. We are updating this tutorial soon and will include this information. Thanks.

[@quintoncarroll1083]

I sell on eBay. When eBay managed payments are deposited into my bank account, do I categorize this income as a transfer?

[@StewartGauld]

Hey, This would be a categorised as a sale.

[@rockabs4]

Hi there, thank you! How do I add a user to my account?

[@StewartGauld]

Welcome! Under setting you can add your team or connect your accountant.

[@StanBell-qr2ym]

How do I manually Input bank statements

[@StewartGauld]

You can upload a file of all your bank statements.

[@AzD435]

Can you upload receipts to it

[@StewartGauld]

Yes you can.

[@cliffordrogers2734]

Thanxs

[@StewartGauld]

Welcome mate!

[@anndelorge1338]

I don't have your starting point. I guess they made some changes. They don't ask me how I do my books.

[@StewartGauld]

Hey! You should be able to skip this part.

[@shafrazvlogs4618]

nice video bro

[@StewartGauld]

Thanks for the visit!

[@rupalisingh9410]

Can anyone help me set up everything for my business pls ?

[@StewartGauld]

Hey mate, I suggest getting in touch with your accountant.

[@MrTommyKimes]

I'm surprised that can add a recurring invoice but not a recurring bill.

[@StewartGauld]

Hey mate you can!

[@JamesRankin]

Love wave

[@StewartGauld]

Thanks for that James.

[@taragmg]

I can not find bow to connect my bank account to Wave :(

[@StewartGauld]

Hey mate! Are you having issues connecting with your bank?

[@taragmg]

@@StewartGauld just found out that Bank connection doesn't support to Australia

[@StewartGauld]

@@taragmg Hey yes I mentioned that at the beginning. We suggest checking our Xero as the next best option!

[@taragmg]

@@StewartGauld What's your opinion about Quickbooks :)

[@JeffChr]

good luck with bank rec if you have outstanding checks.

[@StewartGauld]

Thanks for that.

[@pranayakhadka3507]

Is this all software free of cost bro??

[@StewartGauld]

Completely free. Only payment transaction fees. See their pricing page for more info: www.waveapps.com/pricing

[@pranayakhadka3507]

@@StewartGauld If it's free of charge then, I would love to use it. Thanks...

[@StewartGauld]

@@pranayakhadka3507 Make sure you can use it in your country.

[@pranayakhadka3507]

@@StewartGauld I will check whether my country is mention in list or not? Actually, I am from Nepal. OK 👍

[@asklimited5396]

Anyone can help me.when i login to wave its not but zoho

[@StewartGauld]

Sorry?

[@asklimited5396]

@@StewartGauld I hv created wave company . But when i login to it 1st tym no way. They ask to login zoho .i try this few tyms with different emails but no use . This is not only 4 me .i saw lots of comments abt the same plm. I m 4m 🇱🇰

[@MacknowledgeEnt]

No customer service!

[@StewartGauld]

You will want to link your accountant.

[@tonneblack5168]

Nothing is ever free. What is the catch?

[@StewartGauld]

Hey mate, Yes free. See the pricing here: www.waveapps.com/pricing

[@youtubegarbage4u]

waveapps is truly free. They make money for accounting advisors and payment processing/invoicing for people who need those features. This a great free software bar none.

[@ahmedKhan-dj2jc]

Hi

[@StewartGauld]

Hey

[@chandorequestrian]

Great info. PLEASE talk slower!

[@StewartGauld]

Hi mate! You can slow the video down if you like.

[@TheMoneyMagnate]

Just slow the vid down

[@patu5798]

The way this guy says wave is really annoying

[@StewartGauld]

Thanks for the feedback!

[@youtubegarbage4u]

how do we mark a transaction as personal transaction so that it is not included in business reporting? quickbooks self employed is great for this as one just mark a transaction as simply personal but waveapps made this rocket science. How do we do this???

[@StewartGauld]

Hey mate, This can happen with new accounts. Give your page a few weeks and the option to add a user name should appear.

[@youtubegarbage4u]

@@StewartGauld ??? your reply is not relevant to my comment. Are you using a bot software to reply to comments???

[@newmanfertig886]

You don’t co-mingle personal and business transactions. Ever.

[@Vampirat3]

stop stopping videos to ask me to subscribe. I am just here to get information how dare you waste my time like that.

[@StewartGauld]

Hey, I appreciate your feedback!