How to use Dashboard in Wave Apps

Transcript of Video:

I want to show you how to actually use the dashboard in Wave Accounting.

As soon as you log on, you are already on the dashboard, you don’t need to go anywhere else.

The dashboard is made up of a few different sections that give you different information about your business.

The first section is the Bank Accounts and Credit Cards.

This gives you the balance at any given time, how much you have in the bank, how much you have on your credit card is critical to know this.

This is pretty recent.

Now if you notice it says like five days.

Go ahead and click the update now.

The Wave will update automatically eventually, but sometimes there’s a lag, but just go ahead and click.

The next section is for your Income and Expenses.

The dashboard shows us to you in a few different ways, but this one is for a bar chart for every month.

This is the default view here so you can toggle between the last 12 months and the last 24 months.

If we had more information in here, this would be great, but we don’t.

What we can also do though is select the area we want to focus on and you can see specifically how much you’ve made and how much you spent for each month.

The next section is the Payable and Owing.

This is great for monitoring the invoices that people should be paying you for and for monitoring your bills.

The money you need to send out to people.

This first column is for the invoices that you sent out.

We haven’t sent any out yet, so it’s not keeping track of anything, but it tells you, hey, if somebody hasn’t paid you in 90 days, maybe it’s time to call them again saying for the 60 days, however, you want to structure that, but keep that in mind and sync for the bills.

You want to make sure the bills are getting over 90 days.

They’re getting paid first.

So you want to make sure that the bills that are the oldest, you know, more than 90 days are paid first, then 61 to 90 days, 31 to 60 and so forth.

Here is another Net Income section.

This one is just the numerical amounts and it gives you the current year and the last year.

You’ll see here for 2017 we’ve made 21,000 and we’ve had expenses of almost 40,000 has not been a good year, it hasn’t but I am joking because this is not real data so it is just a piece of what’s going on.

And I’ve made a lot of extra transactions in here as an example, so it is just not good information and if you don’t have good information.

If you haven’t been doing your accounting on a monthly basis, the dashboard is not going to give you the value that it possibly could.

If you’re not sure your numbers are right.

I have created a Freebie for you, it’s called number audit, and it is literally a checklist of 10 items that you can go through to see whether or not your numbers are correct.

I’ll put a link in the description, go check it out if you want, and I think you’ll find it pretty valuable.

Then the last section here is the Business Expenses and this is a doughnut chart and again it gives you for this year or this month.

And you’ll see a majority of our expenses are uncategorized, which is not good because all transactions should be categorized in that.

Is it for the dashboard.

Pretty simple, right?

I hope you like this video. If you did give it a thumbs up, tells me that you want me to create more videos like this and if you haven’t already subscribed so I can send you those videos and share this video with your entrepreneur friends, talk to you later.


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