NOTE: Wave will now only works if your home currency is USD or CAD.
All settlements are imported into taxomate and sent to Wave in the currency of the country marketplace (unless the marketplace customer currency is different).
The settlements are then converted to the home currency when sent to Wave. taxomate can import up to 18 months of conversion rates used by Amazon, and uses Wave's conversion rates if the settlement is older than 18 months.
STEP 1: Set Business (Home) Currency
When you first create a business in Wave, you're asked to choose your business's primary currency. This becomes your default business currency, and it cannot be changed after it is set.
STEP 2: Send Invoice(s) from taxomate to Wave
STEP 3: Record Payment for Invoice
Unlike QuickBooks and Xero, Wave does not allow you to directly match invoices with foreign currencies to payments received in your bank account.
Instead, you are going to have to record payment by going to Sales > Invoices and then selecting Record payment.
Select the Payment method and Payment account where you receive your Amazon payments and click Submit.
STEP 4: Delete Bank Account Payment
Since you have already recorded payment for the invoice, you are going to need to remove the payment displayed in Wave from your connected bank account. If you don't do this, you will have duplicative payments in Wave and your books will be thrown off.
You can delete your payment by going to Accounting > Transactions and select the particular payment and click Delete.
That's it! Your converted invoices will now show up in your Wave reports.