If you sent a full or partial refund to your customer, or received a refund for something you purchased, recording the transaction in Wave ensures your books are accurate.
Bookkeep a refund you sent for an invoice in Wave
Bookkeep a refund you sent without an invoice
Bookkeep a refund you received for a bill in Wave
Bookkeep a refund you received without a bill
Bookkeep a refund you sent for an invoice in Wave
If you use Wave's online payment feature and refund an invoice paid through Wave, the bookkeeping is taken care of automatically.
- Open the Transactions page.
- Find the expense transaction associated with the refund, or create a new expense transaction.
- Select the category Refund Sent for an Invoice in Wave, and choose the appropriate invoice from the list.
- Select Save.
The refunded invoice will appear as Overdue on the Invoices page. If you don’t expect to receive another payment for this invoice, write off the invoice.
Bookkeep a refund you sent without an invoice
- Open the Transactions page.
- Find the expense transaction associated with the refund, or create a new expense transaction.
- Select the category Refund for Income, then the income account you selected when recording the sale.
- Select Save.
Bookkeep a refund you received for a bill in Wave
- Open the Transactions page.
- Find the income transaction associated with the refund, or create a new income transaction.
- Select the category Refund Received for a Bill in Wave, and select the appropriate bill from the list.
- Select Save.
If you use Wave's payroll feature to pay contractors through direct deposit and receive a refund for a contractor bill in Wave, you will not be able to delete it, even if you no longer need to make this payment.
Bookkeep a refund you received without a bill
- Open the Transactions page.
- Find the income transaction associated with the refund, or create a new income transaction.
- Select the category Refund for Expense, then the expense account you selected to record the purchase.
- Select Save.