Wave Cloud Accounting Business

Wave Cloud Accounting Business screenshot

Text-only Preview

Document on Bookkeeping
Procedures in Wave Accounting Application

Wave for Beginners
Contents
1. Understanding basic functions and features in Wave .............................................................................. 3
1.1 Login to Wave ..................................................................................................................................... 3
2 Wave Dashboard....................................................................................................................................... 3
3.Wave Transactions..................................................................................................................................... 5
4. Creating Sales Invoice ............................................................................................................................... 5
5. Creating Bill ............................................................................................................................................... 7
6. Receipt ...................................................................................................................................................... 8
7. Accounting ................................................................................................................................................ 9
8. Reports.................................................................................................................................................... 11
9. Payroll ..................................................................................................................................................... 12
10. Accounting setting: ............................................................................................................................... 13
10.1 Financial Settings ............................................................................................................................ 14
10.2 Invoice Setting................................................................................................................................. 15
10.3 Product............................................................................................................................................ 16
10.4 Customers ....................................................................................................................................... 16
10.5 Vendors ........................................................................................................................................... 16
10.6 Sales tax .......................................................................................................................................... 17
10.7 Guest Collaborators ........................................................................................................................ 17
10.8 Export.............................................................................................................................................. 18
2 | P a g e

Wave for Beginners
16
Purpose of Document: The document aims at explaining the user on how to maintain books of
accounts in Wave.
1. Understanding basic functions and features in Wave
Wave runs on a cloud platform where the data remains on server of Wave and you can login
to the accounting platform just like you login to your email ID on Gmail or Yahoo.
Having your data on Cloud gives you an ease of access and you can login to your accounts
from anywhere. You just need a reliable internet connection.
1.1 Login to Wave
For login into Wave you need to Go to https://my.waveapps.com/login/ and just login with
your Login details
You can use any of your favorite internet browsers to login to Wave.
2. Wave Dashboard
Once you login to Wave you shall be on the Home page of Wave called "Wave Dashboard"
It is your key to business reports you require to see at a glance. You can adjust the things
you wish to see on your dashboard.
You can see a Quick view of bank account and credit cards ,income and expense graphs
invoice details and Net income of Business.
It can be customized on the go as per your reporting requirements.
3 | P a g e

Wave for Beginners
You can add Bank accounts and also Upload Bank Statements Of your Current Banks
You can See the Chart Of income and expense done in your Business
4 | P a g e

Wave for Beginners
You can see the invoice payable to you and bills you owe
You can see net income on your Dashboard
3.Wave Transactions
Here You can see transaction and you can also add transactions of income and expenses
You can also get connected with your bank and also upload Bank statement
4. Creating Sales Invoice
Crete a new invoice: For creating an invoice, you need to input following information into Wave:
o
Name of Customer
o
Date of Invoice
o
Due date of payment
o
Invoice Number
o
Reference
o
Item Sold
o
Description which you wish to mention in invoice
5 | P a g e

Wave for Beginners
o
Qty
o
Price
o
Discount
o
Account where effect needs to be given
o
Tax rate
Here is how the input screen looks like
After Fill all the information sales invoice is ready. You can send the invoice directly to the party.
6 | P a g e

Wave for Beginners
Here is how the invoice look like.
The party can directly pay through invoice by fill credit card and payment details.
5. Creating Bill
Creating a bill is just like a creating sales invoice you need to input following information.
o
Name of vendor
o
Date of Invoice
o
Due date of payment
o
Invoice Number
o
Reference
o
Item purchase
o
Description which you wish to mention in invoice
o
Qty
o
Price
o
Discount
o
Account where effect needs to be given
o
Tax rate
7 | P a g e

Wave for Beginners
6. Receipt
This is very useful function.
By this function one can claim his expense by uploading receipt.
By uploading wave it automatic detects all the expense of receipt so here no need to enter the
details which is in the receipt.
8 | P a g e

Wave for Beginners
7. Accounting
In this function you can see the overall position of your organization .
It shows the balance sheet of organization
9 | P a g e

Wave for Beginners
You can edit the names and also remove expenses which are unnecessary for your organization.
It also shows the equity side.
You can also add journal transaction
10 | P a g e