Coinbooks Insights

How To Keep Track Of Your Crypto Assets With Coinbooks

Coinbooks Team
Published on:
September 16, 2022

What are crypto assets?

Digital assets, also known as cryptocurrencies, are digital representations of value that are stored on a blockchain. The most popular cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Solana (SOL). Bitcoin was the first digital asset to gain popularity after its release in 2009 (Bankrate).

A growing number of companies have digital assets on their balance sheet, whether for investment purposes or the utility of tokens. The most notable company to have publicly announced their digital asset holdings is Tesla.

Why is it important to keep track of your crypto assets?

As a business with digital asset activity, it is extremely important to keep track of your crypto asset holdings and transactions to stay compliant with local tax regulations. Many countries are now enforcing the taxation of crypto asset activity such as trading, staking, mining and paying employees in crypto. Therefore, having a reliable method in place to aggregate all of your crypto activity and easily account for any taxable events is more important than ever.

How can Coinbooks help?

Coinbooks is a crypto accounting software that can help you save hours by making it extremely easy to aggregate all of your crypto activity. You can connect multiple sources such as blockchain wallets and exchanges, and instantly see concise summaries of your transactional inflows and outflows, profit and loss and any unrealized or realized gains. You can also see your realtime, combined balances across all your wallets and their associated fiat values.

Diving deeper, you can see a complete list of every transaction you have ever made. Including the type of transaction (sent, received, withdrawal, deposit, trade or internal), the historic value (cost basis) and current value. You can categorize transactions manually to make reconciliation simpler and even set up conditional rules to automatically categorize and tag existing and new transactions.

With Coinbooks’ powerful reporting capabilities, you are able to generate custom reports detailing any short or long term capital gains you may have to account for. You can also generate advanced impairment reports if your organization requires the tracking of impairment events.

Finally, you can export all of your crypto activity seamlessly to trusted accounting tools such as Quickbooks or Xero with our direct integrations. You can then sync transactions individually or by setting up conditional mass sync rules to decide which chart of accounts to map to.

Getting started with Coinbooks:

Step 1: Sign up for Coinbooks

Visit and sign up for an account with your business email to get started on a free trial.

Step 2: Add your wallets and connect exchanges

Once you’ve set up your account, you can get started by adding any blockchain wallets your company owns by using their public wallet address. Or you can also connect any of your exchanges by API key. Coinbooks currently supports over 30+ integrations and we can add any chain or exchange that your company uses.

Step 3: The main dashboard

On the home page you can get an overview of all of your crypto activity, including money in, money out, profit & loss and all aggregated balances of your wallets.

Step 3: The transactions page

The transactions page gives a granular breakdown of each of your transactions. You can filter, sort and search these transactions by hash, date, value, category, wallet, currency and more! You can also reconcile all of your balances by token and export your transactions to a CSV.

Step 4: Build custom reports

Coinbooks offers many customizable report generation tools - generate balance reports, profit and loss statements, impairment expense reports, capital gains reports and much more.

Step 5: Connect to your accounting software

Coinbooks offers integrations with Quickbooks and Xero - with Sage and Netsuite integrations in development.

Step 6: Create conditional rules

Create rules to automatically categorize, tag and title all existing and future transactions.

Step 7: Add your accountant or teammates

Coinbooks makes it easy to add your accountant or teammates to your account so that you can share your crypto activity, and have one accurate aggregated source of truth for all of your digital assets.

*Please note that the content of this page is not investment or legal advice. Please always consult a local tax professional.

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