The Transactions page is where all your transactions are stored. You can create, filter, sort, and edit your transactions here. This article walks you through everything you can do on the Transactions page.
How it looks: an overview
1: Account dropdown menu to select an account and view it’s balance and transactions
2: Add Income, Add Expense, and More buttons
3: Select All check box for bulk selecting transactions
4: Actions you can take on selected transactions, including Delete, Edit, Merge, and Review
5: Options to Filter, Sort, and Search your transactions
6: Transaction options dropdown menu to Edit more details, Upload Receipt, or View Receipt (if the transaction has an attachment)
7: Mark as reviewed to mark your transactions as reviewed once you verify them
The Transactions page allows for inline editing. You can click on the Description, Account, Category, or Amount fields to edit it without having to navigate to the transaction detail view. Hit the "tab" key to swiftly move across the editable fields.
The Transactions page is also responsive across devices, and allows you to manage your books from desktops, tablets, and mobiles.
Key takeaways for success with the Transactions page:
- Categorize your transactions to ensure your books are balanced and everything is accounted for.
- Review your transactions to ensure that your accounting is up to date.
- Don't forget to account for your sales taxes (especially if they are recoverable!)
From the Transactions page, you can:
- Filter transactions by clicking the Filter button on the top right of the page. There are six kinds of filters:
1: Filter Category to view transactions under a selected category
2: Filter by Status to view transactions that are Reviewed or Unreviewed
3: Filter by Types , to view a specific type of transaction - Deposit, Withdrawal, or Journal transactions4: Filter using the Receipt filter and select either Attached or None to view transactions with or without attachments
5: Filter by date range to view all the transactions within a specific timeframe
6: Filter by last modified date range to view all the transactions modified within a specific timeframe
- Sort: You can sort transactions based on the date from newest to oldest or oldest to newest by clicking on the Sort button on the top right of the Transactions page.
- Search: You can search by description to find a specific transaction, by clicking the Search icon on the top right of the page.
- Add Transactions: Click on the Add Income or Add Expense buttons to create a new Withdrawal/Deposit for your business.
- Add Journal Transactions: Journal transactions are for more complex accounting entries that you cannot complete with a simple transaction (ex: opening balances, long-term asset/liability entries, adjustment entries, payroll entries, etc). To create a journal entry, click on the More button at the top right of the Transactions page, then select Add journal transaction.
- Connect Your Bank/Upload a Bank Statement:You can save time on your transactions data entry by automatically importing your transactions by connecting your bank account to Wave, or manually exporting statements from your bank and uploading them into Wave.
- Categorize: Each transaction you enter needs to be categorized. Indicating what type of transaction it is, what account it belongs to, and if it's tied to an invoice or bill will keep your bookkeeping accurate. To categorize a transaction, click on the category field of the transaction. You will see a list of accounts you can select from. If you don't see the account you want, you can create a custom account by selecting the option Add a new category at the bottom of the list. This will create a new account under your Chart of Accounts.
- Assign Sales Taxes: If you are being charged tax for your purchases or charging taxes on your sales, you will want to manually assign taxes to your Wave transactions. To create a new Sales Tax, check out our How to add a sales tax FAQ.
- Split: To assign a transaction to multiple categories in your Wave account, you will want to split a transaction.
- Add attachments: To upload a receipt or add an attachment, click on the dropdown menu to the right of a transaction and select Upload Receipt. Learn more about uploading receipts here.
- Add Notes: In the transaction detail view, click on the Notes tab to add notes to your transactions.
- Delete: To delete a transaction, select the checkbox to the left of the transaction on the Transactions page, and click the Delete button at the top of the page. You can also delete a transaction by opening the transaction detail view and clicking on the trashcan icon at the bottom right.