02 Feb2012
Adjusting journal entries in Wave Accounting
Wave Accounting, a free online accounting software, has a very easy interface for non-accountants to automatically import and classify bank transactions. Accountants who primarily use other accounting programs might need some time to get used to Wave Accounting’s interface. I recently needed to make some adjusting journal entries in Wave Accounting and the screen to enter them wasn’t quite where I expected to find it. To make an adjusting journal entry, click on the Settings tab. That seems strange to me since I don’t consider journal entries to be a setting in accounting software, but where else would it go? Under Wave Setup, click on Journal Transactions. Then, a screen appears with a layout that will be familiar to accountants. Wave Accounting has some nice features here, including the ability to create a new account by clicking the plus button, and yes, debits must equal credits (so much for my attempt to corrupt the system).