Record or edit a payment on an invoice

You received payment from your customer for an invoice in Wave and now need to mark the invoice as paid. Here’s what you need to do.

If you use Wave Payments, Wave takes care of the bookkeeping for you, and the invoice gets marked as paid as soon as the customer makes a payment.

There are two ways to manually mark an invoice as paid in Wave:

If you use Wave for bookkeeping, and import transactions through a bank connection or statement upload, you can categorize the payment transaction associated with the invoice to mark your invoice as paid, instead of manually recording a payment.

If you import transactions into Wave, manually recording a payment on the invoice will create a duplicate transaction on the Transactions page. If you chose to do this, check to ensure the transactions were automatically merged. If not, you can merge the two transactions while reconciling your accounts. To merge, click on the checkboxes beside the two transactions, and select the Merge button at the top of the page.

How to edit the payment details of an invoice

Record a payment on the invoice

  1. Click Sales on the left navigation menu, then select Invoices.
  2. Locate the invoice, and click on Record payment to the right of the invoice. If you don’t see the option, click the dropdown arrow to the right of the invoice, and select Record payment.
  3. Edit the date and amount if required.
  4. Select the Payment method or type of payment you received.
  5. Select the Payment account, the account where you received the payment.

    To ensure accurate transaction records, you can no longer select Property, Plant and Equipment, Other Long-Term Liability, and Business Owner Contribution and Drawing accounts as a Payment Account for your invoices.

  6. Add any relevant notes in the Memo / notes field.
  7. Click Submit.

The invoice is marked as Paid. An income transaction is also created on the Transactions page (Accounting > Transactions), and the category field will show the invoice details.

Categorize a payment transaction associated with the invoice

  1. Click Accounting on the left navigation menu, and select Transactions.
  2. Locate the income transaction associated with the invoice.
  3. In the Category dropdown select Payment Received for an Invoice in Wave and select the appropriate invoice

The invoice is marked as Paid.

How to edit the payment details of an invoice

You can still edit the details of a payment after the invoice is marked as paid. To do so:

  1. Click Sales on the left navigation menu, then select Invoices.
  2. Click on the invoice to view it.
  3. Click Edit payment under the Get Paid section.
  4. Make the required changes, then click Submit.

The changes you make will automatically sync with the transaction on the Transactions page.

Alternatively, you can also edit the payment details by editing the transaction associated with the invoice payment;

  1. Click Accounting on the left navigation menu, then select Transactions.
  2. Locate the transaction, and edit the required fields. Or, click the dropdown arrow to the right of the transaction, and select Edit more details to edit any additional fields.

Changes you make to the payment details will also get updated on the invoice.

If the invoice was paid through Wave Payments, you cannot edit the payment details. This is to maintain an accurate record of payment transactions in Wave.