How to Categorize Your Transactions in Wave?

To do well in bookkeeping with Wave, it's important to regularly check your transactions, sort your expenses into groups, and regularly make sure everything matches up. Creating your own categories, using automatic tools, and checking things often can help keep everything correct.

In Wave, when you mark an invoice as paid, it automatically updates your financial records to show the correct income using which you can easily track invoice payments.

To reconcile accounts in Wave, follow the steps given below:

• Open your Wave account
• Press on the ‘Reconcile’ option
• Choose the account you wish to reconcile
• Input the ending balance from your bank statement
• Hit Reconcile
• Examine Wave's transactions against your bank statement
• Mark off every transaction that matches
• Hit Mark as Reconciled for every transaction
• Hit Save

To import transactions in Wave, follow the steps given below:

• Open your Wave account
• Go to the 'Banking' section
• Click on 'Upload a Bank Statement'
• Follow the steps to upload a CSV or OFX file.

Wave Accounting is a popular solution designed for small businesses and freelancers, especially those seeking a free accounting solution.