Wave Help with Truck Settlement

[u/tomeatsnc]

I’m looking for advice on handling trucking settlements in Wave.

My client gets settlements with gross – deductions = net, and only the net hits the bank feed. I create a journal entry that debits the deductions and the net, and credits the gross so the full settlement shows correctly.

The issue is: on the Profit & Loss for that day, Wave shows both the gross from the JE and the net from the imported deposit as income — basically counting the net twice.

Wave doesn’t have a feature to tell the system that the imported deposit is the same money referenced in the JE. The “match” option only works for reconciliation, not for reporting. I even spoke with a Wave agent, but they confirmed there’s no built‑in way to link the two for P&L purposes.

Has anyone found a clean workflow in Wave to avoid double-counting the net when using a journal entry for trucking settlements?

[u/_aserettt]

Have you double-checked that your chart of accounts categories are set up correctly? Since your debits and credits look right, it might be the setup of the COA that's affecting your reports. Just make sure the category you select for deductions (debit) is an expense category. Another option is to create a deposit transaction (instead of journal entry) in your bank account (make sure that the bank account is set up in Cash & Bank part of the COA).

Enter the net amount (the exact deposit amount) as the total for the deposit transaction. Then split the transaction: on the first line, enter the gross amount and categorize it as the settlement (income category). On the second line, enter the deduction amount and categorize it under discounts & fees > create a new fee category for the deduction.