r/waveapps

Hi All,

I imported some transactions from my very low volume business to Wave. I'm a single member LLC-taxed as an s-corp. I run payroll through Gusto to pay myself a 'reasonable' salary - how do I reconcile/categorize these 2 transactions:

1. gusto net
2. gusto tax

Gusto tax is a combination of both employee + employer taxes.
Gusto net is the net pay sent to my personal bank account from my business account as my 'reasonable' salary

I'm using the free version of Wave

Has anyone else noticed longer payment processing times since the recent Wave update? ACH payments used to take no more than 3 days for me, but now I’m waiting up to 9 days. Just wondering if anyone else is experiencing this too.

Remind me. It's been a while, and I just started a normal W2 job. I will still have some contract work, but not as much for the coming year.

So I've been using waveapps for bookkeeping and invoicing for the last 5 years straight. Everything was fine until 2 years ago I moved to an S Corp and needed to add payroll services to my account.

Well, as luck would have it I moved to waveapps payroll a few months before the payroll disaster happened with waveapps in 2025... causing issues with payrolls services, missed payments to IRS etc... for 1,000s of waveapps customers...

Well, I jumped ship and moved to Gusto in the end of 2025 and its been great ever since.

HOWEVER, I received a letter from the IRS stating my 2025 Q2 IRS payments are overdue because Waveapps didn't actually make the payment. I checked my bank statement and of course in July they did pull out $455.75 from my bank to make the payment to the IRS but never made the payment. I contacted support (which is only done from email and takes weeks to months to receive replies) uploaded my bank statement and IRS letter asking for a refund since I had to make the payment manually, but they did take the money out from the account.

Well 2 months later, they did an "investigation" they stated they sent out a letter that the responsibility was on ME to make the payment to the IRS due to the internal issues they were having when they changed processors, and I can confirm I did receive a letter HOWEVER they still pulled the funds out of my account that month so I assumed this was sent in error and let them handle it. Fine, not a big deal the fines from IRS on that was like $10. I'll eat that cost.

BUT THEY STILL TOOK $455.75 OUT FROM MY ACCOUNT THAT MONTH AND DID NOT PAY THE IRS AND NOW THEY REFUSE TO REFUND ME THAT AMOUNT THEY TOOK!

I'm so over the bad service Waveapps provides even for paying customers. I was literally paying for payroll services and this is the treatment we get, bad support, piss poor payment processing for payroll services, the list goes on. Dont support this company, there are a few better alternatives out there for both bookkeeping and payroll services. Save yourselves and use those services instead.

We recently had a dispute from end customer with their credit card company. Wave was the bridge between us and the credit card company.

The end customer received the goods that were $800.xx in value. They claimed that it wasn’t as expected, and opened a dispute without reaching out / returning the items.

Wave decided to close the case without even trying, but also pulling funds out of our account. We are now -$800.xx plus wave fees and the customer isn’t responding back to return the merchandise.

Terrible company overall.

When I make a Shopify sale I'll make an invoice, record payment and then when the deposit hits I will merge them as one. My issue is sometimes Shopify will deposit multiple sales in one batch and I don't know how to match up the single deposit to 3-4 separate invoices.

I recently moved from QB to Wave, but in QB as long as the amounts all added up correctly I could match the separate lines to the single deposit. Maybe I am going about this the wrong way all together, but unsure how best to do this in Wave.

Thanks in advance for any help!