Businesses that accept online payments or subscribe to Wave’s Pro Plan can send payment receipts directly through Wave. Learn about Wave’s plans and how to subscribe or how to set up online payments.
Create an account for undeposited funds
To send a receipt for an invoice, the invoice must be marked as paid. Since you have not yet received any funds, you need an account to keep track of the undeposited funds.
The Chart of Accounts page is only available on the web browser version of Wave.
- Log into your Wave account on waveapps.com.
- On the left-side menu, click Accounting > Chart of Accounts.
- Click Add a New Account.
- For the Account Name, use something like Undeposited Funds.
- In the Account Type drop-down, select Money in Transit.
- Click Save.
Mark the invoice as paid
Record the payment on the invoice manually. When asked for the payment account, select Undeposited Funds. Learn about how to record an invoice payment.
Send a receipt
When a payment is recorded on an invoice manually, a pop-up box will appear to confirm the payment was added. To send a receipt to the customer immediately, select Send (a) receipt.
To send the receipt later, follow the steps in Send a receipt for an invoice payment.
Create a transfer after the funds are deposited
When the funds are deposited in the real world, a transfer needs to be created to reflect the movement from your Undeposited Funds to your bank account. If you do not import transactions, you will need to create an income transaction.
- Open the Transactions page.
- Locate the income transaction and open the Category field.
- Select Transfer from Bank, Credit Card, or Loan, then select the Undeposited Funds account.
- Wave will automatically create the other side of the transfer transaction to represent the money movement.