The Transactions page is where all of your transactions live. You can create, filter, sort, and edit your transactions here. Take a moment to check out everything you can do.
There are three main takeaways for success with the Transactions page:
- Categorize your Transactions! It's the best way to ensure your books are balanced and everything is accounted for.
- Review your transactions to ensure that you're confident your accounting is up to date.
- Don't forget your sales taxes (especially if they are recoverable!)
This is the transactions page:
From the Transactions page, you can:
- Filter. There are 6 kinds of filter:
- Filtering by Categories allows you to view transactions of a certain type, like Refunded Invoice Payments, or from a specific Income or Expense category.
- See all transactions that are Reviewed or Unreviewed with the Status filter.
- Under the Types filter, select Deposit, Withdrawal, or Journal transactions.
- Under the Receipt filter, select Attached or None to filter by transactions with or without attachments
- Filter transactions by date range to view all the transactions within a specific timeframe.
- Filter transactions by last modified date range to view all the transactions modified within a specific timeframe
- Access the account filter by clicking "All Accounts" in the top left corner of the page
- Search transaction descriptions, for example, to find a specific check, by clicking the search icon in 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.
- Journal Transaction: This is a special transaction 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) and can be created by clicking the down arrow next to the More button.
- Connecting Your Bank/Upload a Bank Statement: if you want to save some time on your transaction data entry, check out our automated Transaction upload by connecting your bank account to Wave, or export manual statements from your bank and upload them into Wave.
- Categorization: each transaction you enter needs to be categorized. Indicating what type of transaction this is, what account it belongs to, if it's tied to any invoices/bills, etc. will keep your bookkeeping accurate. To categorize a transaction, select the dropdown arrow next to "Choose a category," or click on the dropdown arrow to the right of the row to open up the transaction details and then select from the category menu.
- Assigning 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: When you need to assign a transaction to multiple categories in your Wave account, you will want to split a transaction.
- Delete: to delete a transaction, click on it, and then on the trashcan icon at the bottom left of the transaction details section.