We are currently experiencing issues with our bank account integration (automated transaction import) functionality. The root cause of this issue appears to be system updates recently undertaken by a number of North American financial institutions, which resulted in transactions being imported multiple times, or omitted altogether.
Over the past several weeks, our engineers, and those of our banking integration partner, have been working to adapt our system to these recent changes. As of Monday, September 18th, we have implemented an update to resolve the issue causing transactions to be missed, and both teams of engineers are continuing to work towards a resolution for the multiple transaction issue.
Understanding the Issue
Wave’s Bank Integration feature makes it possible to automatically pull transactions data into Wave, allowing you to to update your books without needing to manually enter or import data.
Connecting to bank data is a highly specialist area, requiring dedicated knowledge of banking system world-wide, and close working relationships with many financial institutions. Like all other online accounting systems and financial portals, Wave accesses bank data via specialist third-party bank data integration partner, enabling us to connect to more than 10,000 online banking websites and financial institutions across the world.
Due to the complexity, number, and variety of banking systems worldwide, issues occasionally arise for all financial platforms that provide this type of functionality. Most often, this is due to banks updating their own systems without regard to potential knock-on effect on their customers who choose to access financial data via a system such as Wave. Unfortunately this is an industry-wide phenomenon.
Here at Wave, our dedicated Integrations Team of engineers are committed to working with all necessary parties to ensure we are able to offer reliable bank connections, and to resolve such system issues as inevitably arise as quickly as possible.
Steps to Take
If you have experienced the missing transactions issue, you will need to enter your missing transactions into Wave. This can be performed using a bank statement upload in OFX, QBO, QFX, or ASO formats*, or by entering your transactions manually using the add income and add expense buttons on the Transactions page.
If you have experienced the multiple transactions issue, please manually delete transactions using the delete option on the Transactions page. This action can be performed in bulk.
In either case, you can then reconcile your accounts to ensure your numbers are correct. You may wish to turn the integration off and to continue to upload statements for the duration of the issue.
Please note that the aforementioned issues differ from bank integration issues such as failure to update or import most recent transactions. If you are experiencing bank connections issues other than those described above, please see our troubleshooting guide.
* Transactions can also be uploaded in CSV format, although for the greatest convenience please choose any of the formats referenced above were your bank provides these.
When will this be fixed?
We know the bank connection feature in Wave is important to you. Unfortunately, at this time we are unable to provide a firm estimate of when all Wave customers will see their bank connections updating normally.
If you have raised a support ticket for either of these issues, our Customer Support Team will notify you as soon as we are able to decisively resolve them. Additionally, we will post updates to this article whenever we have further information available.
Unfortunately, our Customer Support Team are unable to provide additional information or trouble-shooting on a one-to-one basis. There is no need to raise any support request for this issue; all affected customers will receive a fix at the same time, after these issues have been resolved through updates to our bank data provider’s systems and, if necessary, Wave’s own systems.