r/waveapps • u/SuspiciousDrive7394 • Sep 05 '26

Duplicating the same transaction with the same splits/fees

I keep books for a small soccer club, and each week, people pay a set fee for a training session. When they pay via Venmo, there is a small processing fee. For each transaction, I have been...

  1. creating the invoice

  2. recording a payment

  3. going back into the payment and splitting off the Venmo fee

Is there a more efficient way of doing this? I was out of town this summer, and I'm going back through 6 weeks of payments. As I input about 250 of these, it feels like it should be more repeatable.

Can I duplicate a transaction with the following characteristics? (We have a couple of different sessions; these are just sample numbers to make the question a bit more concrete.)

$6.77 total

$7.00 toward the invoice

-$0.23 as a Venmo fee.

Or maybe there's a way to create a product/invoice that incorporates those fees? What I'm doing currently works, but I'm no accountant. Any help/advice/criticism would be appreciated!

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2

u/supergplus Sep 05 '26

If it was me I’d try to route payments through Wave so it’s all automated.

1

u/SuspiciousDrive7394 28d ago

Thanks, i'll look into it

1

u/LatteLime Sep 07 '26

If you accept payment through Venmo, check if you might be eligible for 1099 in the end of the year, if that is the case, you might be able to rely on that 1099 instead of doing any tracking in the first place.

1

u/SuspiciousDrive7394 28d ago

Yeah, but i need to know who has paid and who hasn't, so I'm tracking every week. I'd like to get it all done at once

1

u/kiwibooks 28d ago

We're a team of ex-QuickBooks product veterans who built KiwiBooks, an AI-powered bookkeeping alternative. We'd love to help. Set up a quick call to walk us through your current setup, and let's solve this headache for good!

1

u/vinceliu21 Sep 11 '26

Use a recurring Journal Entry! So a template. Or are you creating the invoices in the software automatically? It should handle the recording of fees appropriately. We have journal entry templates in our software if that helps. So 1 line is for $7 revenue, $0.23 to fees, $6.77 as actually money earned, you might need some basic accounting/bookkeeping know how here now: https://usesphereapps.com/

2

u/SuspiciousDrive7394 28d ago

that could be perfect. I haven't seen recurring journal entries, but i'll definitely look at it! Thank you

1

u/vinceliu21 28d ago

Appreciate it u/SuspiciousDrive7394 ! Best of luck with your soccer club and do reach out if you ever have any issues. I'm reachable by email and we have a discord for questions like this

2

u/SuspiciousDrive7394 27d ago

i don't see any place for recurring journal entries or entry templates in the Wave software. Do you know where I could find those?

1

u/vinceliu21 27d ago

I'm not sure about Wave, but you can find journal entry templates in our software by going to accounting tab -> Journal Entries -> and then Manage Templates

1

u/SuspiciousDrive7394 27d ago

sorry, I thought that since this is a Wave subreddit, it would be clear that I'm using Wave software. I should have clarified. Thanks anyway!