Q: What does 'ERROR: More than One Imputed Fee Found' mean?
🅰️: This error in Bitwave involves an issue where an internal transfer transaction imbalance exists across two or more assets.
When an internal transfer has in/out balances that do not align, the difference between the assets is assigned to Fees. Note that the Bitwave application does not allow more than one fee asset per transaction, so the system notifies the user of the two fee asset error.
To solve this error, the user should review the error-causing transaction for accuracy, and, if necessary, modify or split the transaction to remediate this error.
Q: How to verify a transaction has been categorized?
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Q: Get a report of all transactions that are categorized.
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Q: How do I delete the manual contacts and categories?
🅰️:
You cannot delete the contacts and categories from Bitwave directly by yourself. You need to inform the Support Analyst with all the information in order to remove that from Bitwave. You can override any contact or category by creating the new contact or category with the same Remote ID.
Q: Difference between Add Line and Add Split while doing the Individual categorization?
🅰️ While doing the Individual categorization Add Line means you can add/split the amount into two or more lines and categorize them individually for respective categories but the contact will remain the same but when you Add split that will also allow adding another contact while categorizing the transactions for their respective category.
Q: What is an Add Line in Individual categorization?
🅰️:
While performing Individual categorization Add Line means you can add/split the amount into two or more lines and categorize them individually for respective categories but the contact will remain the same.
Q: Difference between Add Line and Add Split while doing the Individual categorization?
🅰️:
While doing the Individual categorization Add Line means you can add/split the amount into two or more lines and categorize them individually for respective categories but the contact will remain the same but when you Add split that will also allow adding another contact while categorizing the transactions for their respective category.
Q: How do I delete a category / contact?
A:
Deleting a category or contact within your Bitwave instance will require the following steps:
Contact a Bitwave team member.
Provide your Org ID, Org Name, Accounting Connection Type (QBO, Nesuite, Sage..)
Also provide the name of the Category or Contact you want deleted AND the BITWAVE ID for that particular category/contact.
Q: How to uncategorize transaction in bulk ?
🅰️: Here are the steps to uncategorize transaction in bulk
Go to systems jobs under administration tab on the left hand side menu
Click on create job
Select the action ' uncategorize'
Select the wallet and choose the time period then hit run
Q: What is an Add Line in Individual categorization?
🅰️ While doing the Individual categorization Add Line means you can add/split the amount into two or more lines and categorize them individually for respective categories but the contact will remain the same.
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Q: How to do bulk categorization for trade transactions?
You can even use our system jobs feature to categorize transactions (You will be needing transaction id's of the transfer / trade transaction you are trying to categorize)
Q: Is there an easy way to record a loan in Bitwave or want to recognize loan revenue on the transaction?
🅰️:
Yes you can record that. So whenever you receive the Token back (loan repaid), you can Add Line to the transaction(by opening the transaction) in the transactions UI and split the transaction into two categories : Loan repayment and Loan revenue
Q: How to Combine and Categorize Transactions as an Internal Transfer?
🅰️:
To combine transactions and categorize them as an internal transfer, follow these steps:
Navigate to the Transactions section and select All Transactions.
Check the boxes next to the transactions (from different wallets) that you want to combine.
Click Combine to combine the selected transactions.
Categorize them as an Internal Transfer.
## Q: Why does the platform periodically prevent me from saving categorized transactions?
:a::
This may be caused by a temporary error (like a GraphQL issue) that can occur if certain Chart of Accounts are merged in your connected accounting software. Try refreshing the page or logging out and back in. If the issue persists, please report it with a screenshot so our team can investigate further.
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Q: What should I do after categorizing incomplete transactions?
🅰️:
After categorizing the incomplete transactions, revisit your Inventory view and update it. This should resolve the issue of uncategorized transactions. If errors still appear, please notify our support team for further investigation.
Q: The “Needs Categorization” screen won’t load when I select all wallets. What can I do?
🅰️:
If the screen spins or fails to load, try narrowing your wallet selection, refreshing the browser, or clearing your cache. This issue is often related to browser performance or internet connectivity. If the problem continues, please contact support and we can help you categorize transactions manually if needed.
Q: It takes several minutes to categorize a single transaction. Is this normal?
🅰️:
No, categorizing transactions should not take that long. This delay could be due to browser issues or high data volume. As a temporary workaround, try categorizing transactions in the “To Be Reconciled” screen, which may perform better. We're working on performance improvements to address this.
Q: How do I handle an internal transfer that’s not being processed correctly?
🅰️:
For transfers not reflected correctly, you can manually upload them with proper categorization. This might involve creating one transaction for the internal transfer (including both deposit and withdrawal) and a second transaction for any separate fee. Our team can guide you through the correct structure if needed.
Q: I received a strange error message when trying to categorize a transaction. What should I do?
🅰️:
If you encounter an unusual error while categorizing a transaction, try waiting and attempting the action again later, as the issue may be temporary. If the error persists, please share the transaction ID with our support team along with a screenshot of the error for further assistance.
Q: After importing opening balances, do I need to categorize those transactions? How?
🅰️:
Yes, to categorize opening balance imports, include the category and contact ID fields in your import template. Alternatively, you can categorize them manually in the Bitwave UI after import. Categories and contacts must exist in your Bitwave or QuickBooks instance before importing.
Q: Is there a way to uncategorize and recategorize transactions in bulk instead of one-by-one?
🅰️:
Yes! You can use Bitwave’s System Jobs feature to uncategorize transactions in bulk using transaction IDs. Then, simply re-run your categorization rules to recategorize them. Here’s a guide: System Jobs Guide
Q: Where can I find the template needed for bulk uncategorizing transactions?
🅰️:
You can use the CSV Bulk Actions Template. Just enter the transaction hashes under the txnID column and mark the action as “uncategorize.” Upload the completed CSV via the System Jobs tool.
Q: I’m getting an error when uploading my CSV categorization file what should I do?
🅰️:
First, double-check that your file matches the required format. If the issue persists, please share a screenshot of the error with our support team so we can help troubleshoot.
Q: How do I upload a CSV to categorize transactions?
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Go to System Jobs and create a new job for transaction categorization. Download the correct CSV template from this section and upload your file accordingly. Make sure the format matches the template exactly.
Q: Why is categorizing a transaction so slow or causing errors?
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Slowness or loading issues when categorizing transactions can be due to browser performance or internet connectivity. If you frequently see timeout or error messages, try switching browsers or reducing the number of wallets selected. We're actively working on improving performance in this area.
Q: Why am I getting an error when trying to run a system job for categorization?
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This could be due to a formatting issue in your import file used in the categorization system jobs.
Q: How do I import transaction categorizations using a CSV file?
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You can upload your CSV file via the System Jobs section by creating a job for categorizing transactions. Be sure to use the correct template provided in that section. If you encounter errors, contact support and share the template and error message.
Q: What happens after I report a Fireblocks syncing issue to Bitwave?
🅰️:
Once you report a syncing issue, our team will check the status of your Fireblocks API connection. If needed, we’ll request a new API key and escalate the issue to our engineering team for further investigation. We’ll keep you updated throughout the process.
Q: How do I disable a wallet completely in Bitwave?
🅰️:
To fully disable a wallet, you must first delete all transactions associated with that wallet through Administration > System Jobs, then delete the wallet itself. This ensures no transactions remain linked to the disabled wallet.
Q: I’m getting validation errors when trying to delete wallet transactions. What should I do?
🅰️:
Validation errors can occur if the wallet is linked to exchange wallets or if transactions are still reconciled or categorized. Make sure all transactions are unreconciled and uncategorized before requesting deletion, and if the issue persists, contact support for assistance.
Q: How long does it usually take to disable wallets and delete their transactions?
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The process may take some time depending on the number of transactions and system load. If delays occur, you can escalate the issue with our team for faster resolution.
Q: How do I refresh the Coinbase sync in Bitwave?
🅰️:
If your Coinbase sync is missing older transactions, our team can manually trigger a resync for you. Please contact support and share the details of any missing data.
Q: Can I mark transactions as reconciled after categorizing them without pushing to the ERP system?
🅰️:
Yes, once a transaction is categorized, you can mark it as reconciled without pushing it to your ERP again.
Q: How can I handle an internal transfer that Bitwave categorized as a standard transaction?
🅰️:
If Bitwave miscategorizes an internal transfer as a standard transaction, you can uncategorize it, recategorize it as an internal transfer, and then update your inventory view.
Q: Why can’t I always categorize a transaction as an internal transfer in Bitwave?
🅰️:
The option to categorize a transaction as an internal transfer may not appear if Bitwave doesn't recognize both sides of the transfer. Ensuring the corresponding deposit and withdrawal exist and match is crucial.
Q: What should I do if I can't categorize certain transactions labeled as "transfers"?
🅰️:
These may be blank or spam transactions. You can safely ignore them by selecting the checkbox next to the transaction ID and clicking "Ignore."
Q: I can’t categorize certain transfers because there's no wallet for the fee. How do I resolve this?
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If it’s a $0 fee and an internal transfer, you can mark the transaction as an “internal transfer” and add a contact.
Q: How often does Bitwave recommend categorizing transactions?
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We recommend categorizing transactions daily to maintain accuracy, keep financial data fresh, and speed up your month-end close process. This practice supports timely reporting, reconciliation, and review of your crypto portfolio and financials.
Q: Do transactions need to be reconciled for gain/loss calculations to be accurate?
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No, transactions only need to be categorized for gain/loss calculations. Reconciliation is only necessary when pushing transactions to your ERP system.
Q: What does the error “Unable to reserve txn to reconcile” mean?
🅰️:
This error usually occurs when a transaction is already in the process of being pushed to your ERP. If you try to sync it again during this process, you’ll see this message. First, check if the transaction exists in your ERP. If it’s already there, no further action is needed. If not, we can investigate further by filing a support ticket.
Q: Can I bulk reconcile categorized transactions in Bitwave?
🅰️:
Yes, you can bulk reconcile transactions by creating a system job: go to Administration > System Jobs > Create Job > Reconcile Transactions.
Q: Can I add a memo or description field when using bulk categorization for transactions?
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No, the bulk categorization feature currently does not support adding memo or description fields. This limitation means you’ll need to manually annotate transactions after categorizing them if descriptions are needed for accounting purposes.
Q: What should I do if Bitwave categorizes an internal transfer as a standard transaction?
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If Bitwave misclassifies a transfer, you can uncategorize the transaction and re-categorize it as an internal transfer. This ensures proper treatment in reports and avoids unintended impacts on inventory.
Q: Why can't I categorize some transactions as internal transfers in Bitwave?
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This may happen if Bitwave doesn't detect a matching withdrawal and deposit pair or if the wallet sync is incomplete. Ensure both sides exist and are correctly mapped. If needed, re-sync the relevant wallet or import the transfer manually.
Q: How do I manually create internal transfers in Bitwave?
🅰️:
You can manually import internal transfers using Bitwave’s import template. Ensure both rows have the same blockchain ID and use a unique ID for each row and also has same group ID. Matching blockchain IDs and group IS signal the system to treat the entries as a transfer.
Q: How do I set up a rule for Trade categorization in Bitwave?
🅰️:
To create a Trade categorization rule, go to the “Categorize” dropdown under the "Use Identifiers" section and select "Trade Categorization." If the Fee Contact dropdown shows “no data available,” ensure that relevant contacts are set up in your organization’s settings. Refresh the page or recheck your setup if needed. You can also check this documentation guide to set up the trade rule.
Q: How do I combine swap transactions in Bitwave?
🅰️:
To combine swap transactions in Bitwave, you must first uncategorize any transactions that are already categorized. Once uncategorized, you can select and combine them to reflect the swap correctly. This ensures accurate accounting of asset conversions.
Q: Why are my transaction rules not categorizing some transactions in Bitwave?
🅰️:
Rules fail when token pricing is missing. Once tokens are priced—either through pricing sync or manual input—rules should apply correctly. You may need to uncategorize and re-run rules after pricing is updated.
Q: What happens if I resync a wallet in Bitwave—will it affect existing transaction categorizations?
🅰️:
Resyncing a wallet will not undo any existing categorizations. It will only restore any transactions that were previously deleted or missed. If duplicates appear, you can report them for support to review.
Q: Why is my transaction not being categorized even though I created a matching rule?
🅰️:
If your transaction isn't categorized despite a matching rule, ensure that the rule's condition (e.g., To Address) exactly matches the transaction detail. Note that rules are case-sensitive and must match the format exactly. If everything appears correct, there may be a deeper issue requiring Bitwave support access to investigate.
Q: Can I unreconcile a transaction in Bitwave and recategorize it?
🅰️:
Yes, you can unreconcile a transaction and change its categorization in Bitwave. After updating the category, reconcile the transaction again and run a new sync to update your ERP. You may also need to delete the original entry in QuickBooks manually.
Q: What should I do if inventory goes negative due to a slightly inaccurate recorded balance in Bitwave?
🅰️:
You can either create a small deposit transaction just before the disposal to correct the balance or ignore the original disposal and create a new one with the adjusted amount. This ensures that the inventory does not go negative.
Q: How do I correct a miscategorized transaction causing inventory issues?
🅰️:
If a transaction was mistakenly categorized, uncategorize it first, then recategorize it correctly (e.g., as an Internal Transfer), and update the transaction’s status, and update inventroy views. This helps ensure accurate inventory calculations and reconciliations.
Q: Why do I still see a large number of uncategorized transactions even after refreshing?
🅰️:
If uncategorized transactions persist after refreshing, it could be due to a delay in synchronization or categorization logic not being applied. Ensure that rules or manual categorizations are set properly, and click "Update Now" to refresh the inventory. If the problem remains, contact support for further help.
Q: How do I categorize internal transfers involving a manual wallet and an on-chain wallet in Bitwave?
🅰️:
To handle internal transfers between a manual and an on-chain wallet, identify both sides of the transaction. Select both transactions using the checkboxes on the left, then click “Combine” and categorize the combined entry as an Internal Transfer.
Q: What should I do if incorrect categorization is causing reconciliation discrepancies in Bitwave?
🅰️:
If you suspect incorrect transaction categorization is causing variances, review transactions on the day variance begins. Use the Transaction UI to identify mismatches, and if needed, uncategorize and recategorize the affected transactions. This helps realign your reports with accurate accounting classifications.
Q: How can I bulk uncategorize all transactions in Bitwave?
🅰️:
How can I bulk uncategorize all transactions in Bitwave? "You can bulk uncategorize transactions using the System Jobs feature:
Go to the Left Menu → Admin → System Jobs.
Click “Create Job” and select “Uncategorize.”
Leave the wallet selection blank to include all.
Set the date range and click “Submit.”
The process can take 5 minutes to 2 hours, depending on the organization’s size. Be sure to disable any active rules before running this job to prevent automatic re-categorization."
Q: Why can't I see the "Trade" transaction type in the dropdown on the Transactions page?
🅰️:
The "Trade" option becomes available only after combining two or more transactions that represent an asset swap (e.g., USD to ETH). To do this, check the boxes next to the relevant transactions, select "Combine," and then choose "Trade" as the transaction type.
Q: Is bulk categorization via CSV or System Jobs recommended for trades?
🅰️:
Bulk categorization via System Jobs or CSV upload is more manual and best suited for simpler transaction types like deposits or withdrawals. For trades, Rules-based categorization is more efficient and accurate.
Q: How do I categorize a transaction as a trade in Bitwave?
🅰️:
To categorize a transaction as a trade, select the transaction, click on the "Standard" dropdown, and then choose "Trade." This is used when you're exchanging one asset for another (e.g., USDC to USD). You can adjust the exchange rate if needed.
Q: Can Bitwave remember the last used category when manually categorizing multiple transactions?
🅰️:
Currently, Bitwave does not automatically default to the last used category when categorizing transactions manually.
Q: Do transactions need to be categorized before reconciliation in Bitwave?
🅰️:
Yes, all transactions must be categorized before they can be reconciled and pushed to ERP.
Q: Why can't I recategorize a transaction after uncategorizing it in Bitwave?
🅰️:
If a transaction is uncategorized and then appears stuck, this may be due to a temporary UI or sync issue. Refresh the page and try categorizing again. If the issue persists, contact support for assistance.
Q: Do Bitwave rules automatically reconcile transactions after categorizing them?
🅰️:
No, Bitwave rules help categorize multiple transactions but do not reconcile them. Reconciliation is a separate step required to push transactions to an accounting platform like QuickBooks Online (QBO).
Q: How can I edit or rename a manually created category in Bitwave?
🅰️:
You cannot directly edit the name or details of a category once it is created in Bitwave. However, you can disable the existing category and then create a new one with the desired title and same category ID.
Q: How should I categorize an NFT that was given away for free?
🅰️:
For NFTs minted for free and given away, you can create a custom account or category (e.g., “Free NFT Mints”) to track the activity. After categorization, manually mark the transaction as reconciled if the value is zero.
