Wave Accounting

Learn to use bank feeds with free accounting software (Wave) from a practicing Certified Public Accountant (CPA)

What you will learn

How to set up bank feeds for both bank accounts and credit card accounts

How to set up Wave Accounting

How to add transactions and assign proper general ledger accounts to them

How to do bank reconciliations

Understand the difference between a bank reconciliation when using a cash basis and accrual basis

Record transactions from two accounts that use bank feeds like a credit card account and a bank account


This course will use free accounting software which is an excellent tool to practice with.

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This course will jump right into bank feeds and how to use them.

Many accounting software courses will spend a lot of time talking about how a full-service accounting system works. We do recommend spending time learning the full accounting process, and we do have courses that do just that.

However, many small businesses want to get right down to data input as fast as possible, and others already have a good understanding of the system and want to focus specifically on bank feeds.

We will focus on bank feeds in this course.

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For example, some small businesses may be perfectly happy using a cash basis system and will, therefore, not need some of the functions used in a full accounting cycle. Businesses that use a cash basis model can structure their data input to be much more heavily dependent on the bank and bank feed data.

We will discuss types of businesses that fit well into a cash basis model as we work through the practice problems. We will also discuss some problem areas many businesses have and how to set up a system that works for them.

This course will work through a practice problem and will provide test data that learners can use in their system to follow along if they choose.




.10 Wave Free Accounting
Data Files to Download
315 How Do Bank Feeds Fit Into My Accounting System
320 Project Outline

Month One – Set up Bank Feeds

Data Files to Download
325 Set Up Bank Feeds
360 Download Transactions From Bank
365 Import Bank Data

Month One – Add Transactions from Bank Feeds

Data Files to Download
370 Add Expense Transactions
375 Add Capital Expenditures
380 Add Inventory Purchase
385 Add Amount Paid for Investment
390 Add Owner Withdraws
395 1 Customer Deposit
400 Sales Tax Calculation
405 1 Deposit Loan
405 2 Deposit Owner

Month One – Bank Reconciliation

406 Bank Beginning Balance
407 Bank Reconciliation

Month Two – Upload Bank Transactions

Data Files to Download
415 1 Upload Bank Transactions

Month Two – Add Transactions from Bank Feeds

415 2 Add Expenses
420 Add Insurance
425 Add Payroll Checks
430 1 Add Inventory
430 2 Add Loan Payment
435 Add Draw
440 1 Receive Payments On Invoice
440 2 One Deposit Two Invoices
445 Sales Receipt & Bank Feeds

Month Two – Bank Reconciliation

450 Bank Reconciliation

Credit Card Bank Feeds

Data Files to Download
460 Credit Card Bank Feeds Upload
465 1 Add Credit Card Bank Feed Data
470 Reconcile Credit Card

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