Most often, the time you'll spend on the Transactions will be spent categorizing. This view expands when you add a new transaction or select an existing one.
You’ll see a few new options when adding a category. For any withdrawal transactions, there will be four pre-populated options for categorization above a list of the rest of your accounts.
Selecting the Transfer option will create a transfer between your selected transaction and a matching deposit transaction you choose
Selecting the Bill Payment option will bring up a list of your unpaid or partially paid bills to which you can apply the transaction.
Selecting Refund Sent for an Invoice in Wave will call up a list of your paid or partially paid invoices to which a refund can be applied. Selecting this option will link the transaction to the invoice, and you will see it on the Invoices page.
Refund for Income will bring up a list of income accounts to which any income has been recorded so that the income from any previous transactions can be offset by the refund transaction.
If the withdrawal transaction you have entered does not fall under the four categories you see here, then it can be categorized to any of the other accounts that you see in the drop-down.
If you have entered or selected a deposit transaction, you’ll see a similar group of suggestions pre-populate under the Category drop-down:
Selecting Payment Received for an Invoice in Wave will allow you to indicate that the transaction is a payment for an unpaid or partially paid Wave invoice.
Refund Received for a Bill in Wave will call up a list of any of the bills for which you have recorded a payment. Recording a refund will mark the bill as unpaid by the amount of the transaction.
Selecting Refund for Expense will populate a list of accounts to which expenses have already been recorded. Selecting the account to which the original expense was recorded will offset the expense account by the deposit amount.
Just as with withdrawals, if none of the four categories above apply to the transaction in question, it can be categorized using any of the accounts that appear in the drop-down below the options we’ve just reviewed.
Another new addition is the Save button you’ll see in the transaction details view. This will confirm any details you enter or modify. When you hover your cursor over the Review checkmark, you’ll see a message that says Save and Mark as Reviewed.
This article has been shortened and formatted to display in a small window. Read the full article in our Help Center.