Automated bookkeeping with auto-updates

This feature is available with a Pro Plan or Receipts subscription, or if you have a legacy business auto-importing transactions as of May 1, 2024.

Once every 24 hours, Wave automatically categorizes your bank-imported expenses and merges certain duplicate transactions to keep your books accurate. Any auto-updates that Wave makes are highlighted on your Transactions page.

Auto-updates cannot be turned off.

How auto-categorization works

How auto-merge works

How auto-categorization works

Wave categorizes expenses imported from your bank connection based on the transaction description and your past activity. If a transaction is incorrectly categorized or left uncategorized, you can categorize or recategorize the transaction.

Income transactions and transactions imported via statement uploads are not automatically categorized.

Learn how to Review auto-updates to your transactions.

How auto-merge works

Wave merges duplicate transactions when you manually mark a bill or invoice as paid, or you upload a receipt, and a matching transaction with the same account and amount is imported from your bank connection or statement upload.

If an imported transaction has multiple potential matches, to avoid an error, Wave will not merge it. Learn how to manually merge duplicate transactions. If transactions were incorrectly merged, you can unmerge them.

If a merged transaction has a receipt attached, the image remains attached. Click the Receipt icon to the right of the transaction to view the image.

Learn how to Review auto-updates to your transactions.