When you created your business in Wave, we set up your Chart of Accounts with a list of common accounts (or categories) that other businesses like yours have found useful. Of course, you are free to add different accounts and categories (such as your own specific bank accounts or income and expense categories) to Wave.
To create new accounts & categories:
- Click Accounting in the menu at the left of your screen and select Chart of Accounts.
- Click on Add Account.
- Browse through the different categories and select the one that best matches what you're looking for.
if you're searching for an Expense category, you can find it under Expense(s), and then do the search. Similarly, if you're looking for an Asset, you can find it under Asset(s), and so on.
- Edit the account name.
- Wave may ask you if this is a Payment Account. Here is more info: What is a payment account?
- Click Save.
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