Transactions imported through a bank connection or statement upload, and transactions automatically created in Wave when you manually record a payment on a bill or invoice, can lead to duplicates. The new Auto-merge feature eliminates the manual work required to ensure your books stay accurate. This article will walk you through everything you need to know about this new feature.
Auto-merge is currently in beta and being rolled out to select users. You cannot opt in to this beta feature at this time.
What is Auto-merge and how does it work?
If you import transactions in Wave (through a bank connection, statement upload or Wave connect), and also manually mark your invoices and bills as paid by directly recording a payment on the invoice/ bill, you would see duplicate transactions. The Auto-merge feature detects these duplicate transactions and automatically merges them.
If you receive a payment for an invoice or make a bill payment, you may prefer marking your invoice or bill as paid immediately to stay on top of your accounting without having to wait for the transaction to import through your bank connection, or upload a statement. When you manually record a payment on an invoice or bill, Wave automatically creates a transaction on your transactions page to mark the invoice or bill as paid. Later, when the transaction is imported through your bank connection or a statement upload, it would result in a duplicate, as Wave has already created a transaction to account for the invoice or bill payment that you manually recorded.
The current workflow to resolve the duplicate transactions is to manually merge the automatically created Wave transaction and the imported transaction by checking the boxes beside the two transactions, and selecting the “Merge” option at the top of the page. The new Auto-merge feature eliminates this manual process by automatically merging these transactions, saving you time.
The Auto-merge feature only applies to transactions under the same account. This will only work for individual invoice or bill payments and not lump sum payments for multiple invoices or bills.
How will I know if a transaction was Auto-merged?
When Wave automatically merges your transactions, the new activity feed on the transactions page will be updated. This allows you to stay in control of your books by reviewing the actions that were taken. The activity feed updates every week.
You will see a new Activity button on your transactions page and clicking on it will open the activity feed which shows you if any transactions were auto-merged. The activity feed will show you auto-merges from the each week grouped together. You can click on the option View merged transactions in the activity feed to view auto-merged transactions. This will show you a view of your transactions page with the “Auto-merged” filter applied.
You can also filter for auto-merged transactions anytime by clicking on “Filter” at the top right of your transactions page and checking the “Auto-merged” filter box.
What if a transaction was incorrectly merged?
On your transactions page, all auto-merged transactions will have a merge icon beside the transaction. If you click on this icon you will see a modal which allows you to mark the transaction as reviewed or unmerge the transactions.
Clicking on the Mark as reviewed button will mark your transaction as reviewed on the transactions page with the green check mark. Clicking on the Unmerge button will unmerge the transactions and you will see two separate transactions on your transactions page. If your transaction is not categorized, you will notice the "Mark as reviewed" button is greyed out on the modal, and you will need to first categorize the transaction before you can mark it as reviewed.