Crypto accounting, answered

Crypto holdings are recognised as assets and measured under your accounting framework. Under IFRS they are generally intangible assets under IAS 38, measured at cost less impairment or, where applicable, at fair value. Under US GAAP, FASB ASU 2023-08 requires in-scope crypto assets to be measured at fair value with changes recognised in net income. CryptaCount maintains the underlying lots, valuations and movements so the balance-sheet figure is supported by a reconciled, traceable record rather than a manual estimate.

For most holders it is neither cash nor inventory. Cash equivalents and inventory have specific definitions crypto generally does not meet. Under IFRS the default is an intangible asset (IAS 38), unless you are a broker-trader holding for sale in the ordinary course, in which case inventory may apply. Under US GAAP the ASU 2023-08 fair-value model now governs in-scope crypto assets. CryptaCount lets you apply the correct treatment consistently and documents it in the audit trail.

Crypto tax software produces a year-end gain/loss figure for a tax return. Crypto accounting software maintains books: reconciled balances, journal entries posted to a general ledger, and a full audit trail. CryptaCount is accounting software — accurate tax figures are a by-product of getting the accounting right, not the primary deliverable.

Almost always, yes. QuickBooks and Xero are general ledgers; they are not built to ingest thousands of on-chain transactions, source historical prices, or compute crypto cost basis. A crypto sub-ledger handles that complexity and posts clean summarised journals into your GL. CryptaCount is that sub-ledger, with a bidirectional Xero and Zoho Books integration live today.

No, and it is not meant to. CryptaCount is a sub-ledger that feeds your general ledger. Your GL remains the system of record for the whole business; CryptaCount owns the crypto detail and hands it over as correct, postable journal entries.

Yes. Connect your wallets and exchange accounts and CryptaCount imports and reconciles your full history, so you can rebuild and clean up prior periods — restating opening balances and producing a defensible trail — not only account for activity from today onward.

Twelve disposal methods, including FIFO, LIFO, HIFO, weighted-average, moving-average, total-average, specific identification, wallet-based FIFO, fair-market-value and net-realisable-value variants, and a global-portfolio method. You select the elective method that suits your policy, and the engine recomputes every lot from the first transaction whenever you change it.

It depends on your jurisdiction, your accounting policy and your objectives. FIFO is the most widely accepted and often the simplest to defend; HIFO can reduce gains in some regimes but may not be permitted everywhere; specific identification offers the most control where it is allowed. The right answer is usually the one that is both compliant in your jurisdiction and consistent over time — our cost-basis methods guide explains the trade-offs.

A crypto-to-crypto swap is treated as a disposal of the asset given up and an acquisition of the asset received, both at fair market value at the time of the trade. CryptaCount prices both legs, recognises the gain or loss on the disposed asset against its matched lots, and opens a new lot for the acquired asset — automatically, for every swap.

Yes. Where a jurisdiction mandates a specific approach — UK Section 104 pooling, Canadian adjusted cost base, the French PFU — CryptaCount applies it automatically for entities in that jurisdiction, rather than forcing you to pick it manually. For elective methods, your policy is applied consistently within each entity.

The engine replays all calculations from genesis under the new method, so your lots, gains and losses are internally consistent rather than a mix of old and new logic. Because the change is a full recomputation, the resulting books are auditable and reproducible.

Both. The cost-basis method determines the carrying value of holdings and the gain or loss recognised on disposal, which flow into the financial statements as well as any tax computation. CryptaCount applies one consistent, documented policy so the books and the tax numbers trace to the same lots.

A transfer between your own connected wallets is not a disposal — it moves the existing cost-basis lots with the asset rather than triggering a gain or loss. CryptaCount de-duplicates these internal transfers automatically so they neither create phantom income nor break the lot history.

Yes, both. It produces financial statements under IFRS and under US GAAP, keeping your chosen accounting policy consistent across periods and documenting it in the audit trail so the basis of preparation is always clear.

ASU 2023-08 requires in-scope crypto assets to be measured at fair value, with changes recognised in net income, and is effective for fiscal years beginning after 15 December 2024. CryptaCount supports this fair-value model, sourcing prices for measurement and recording the resulting remeasurements through the ledger.

Under the IAS 38 cost model, intangible crypto assets are tested for impairment and written down when carrying value exceeds recoverable amount, with reversals subject to the standard's limits. Where a fair-value approach applies instead, remeasurement replaces impairment. CryptaCount applies the treatment consistent with the policy you select.

DAC8 is the EU directive extending automatic exchange of information to crypto-asset service providers and their users. CryptaCount structures transaction and holdings data so the information these reporting obligations require is captured and exportable, rather than reconstructed after the fact.

CARF is the OECD's Crypto-Asset Reporting Framework, a global standard for the automatic exchange of crypto-asset information between tax authorities. CryptaCount's data model is designed with CARF-style reporting in mind, so the relevant fields are available when reporting is required.

Reporting is designed around the EU's MiCA regime alongside DAC8 and CARF. CryptaCount, based in Luxembourg, structures data to support the disclosures these frameworks call for. MiCA-readiness here means the data and reporting are organised for the regime, not a claim of regulatory authorisation.

A QuickBooks Online connector is on the roadmap. Today, CryptaCount integrates bidirectionally with Xero and Zoho Books, and for any system without a native connector it exports standard journal files you can post manually — so you are never blocked waiting on an integration.

Yes. The Xero integration is live and bidirectional: import your chart of accounts from Xero, then export period journal entries back to it. Zoho Books works the same way. QuickBooks, NetSuite and Sage Intacct are on the roadmap.

90+ blockchain networks (EVM and non-EVM) plus major exchanges including Coinbase, Binance and Kraken, with over 100 connectors in total. Wallets connect read-only via public addresses, and exchanges via read-only API keys — never private keys.

CryptaCount enriches every transaction with historical fair-market prices at the moment of the event, so disposals, swaps and income are valued correctly rather than at today's price. This pricing underpins both your accounting valuations and your cost-basis calculations.

You can export standardised journal entries and reports in formats your system can import, so you can keep posting clean crypto journals into any general ledger while native connectors continue to roll out.

Yes. For any general ledger without a native connector, CryptaCount exports standard journal files and reports you can import, so you can keep posting clean crypto journals into any accounting system while native connectors (QuickBooks, NetSuite, Sage Intacct) continue to roll out.

Each client lives in its own workspace, with separate wallets, chart of accounts and accounting periods, and role-based access for preparers and reviewers. A firm can run many engagements side by side with proper segregation of duties and no data bleeding between clients.

Yes. It supports fund, series and investor structures, computes net asset value, and applies high-water-mark logic for performance fees. Holdings that move on-chain are reconciled to the chain each period, so reported NAV is backed by provable balances.

Clients on CryptaCount arrive with a complete, three-layer trail — chain event, reconciled ledger entry, posted journal — and documented cost-basis policies. That turns audit fieldwork from reconstructing the trail into verifying it, which is faster and lower-risk.

Yes. Staking rewards, DeFi yield, protocol fees and other on-chain revenue and expenses are classified automatically and posted through the same controlled pipeline as everything else, so web3 businesses can close on a normal cadence.

No. CryptaCount focuses on the accounting layer — valuation, NAV, fees and investor-level reporting. Legal-structure modelling such as GP/LP waterfalls or SPV hierarchies belongs in dedicated fund-administration systems; doing the accounting layer thoroughly is what makes that downstream reporting reliable.

Yes. Role-based access control lets preparers, reviewers and administrators work the same workspace with appropriate rights, and per-workspace isolation keeps each client or entity separate — supporting proper segregation of duties for firms and funds.

CryptaCount runs on Google Cloud infrastructure that is SOC 2 Type II and ISO 27001 certified. We are precise about this: those certifications describe the underlying infrastructure, not a company-level certification of CryptaCount itself. We would rather state the posture accurately than overstate it.

CryptaCount is EU-based, in Luxembourg, and handles personal data in line with the GDPR, including a Data Processing Agreement under Article 28 and transparent retention. Each workspace's data is isolated from others.

Never. Wallets are connected as public, watch-only addresses and exchanges via read-only API keys. CryptaCount can read your activity to keep the books but can never move, withdraw or take custody of your funds.

Role-based access control governs who can see and do what, and per-workspace isolation keeps each entity's or client's data separate. This lets teams collaborate on the same books with proper segregation of duties.

Yes. You can export your full transaction history, cost-basis lots, journal entries and financial statements at any time, on every plan. Your data is yours, and there is no lock-in holding it.

Yes. Each workspace's data is isolated, so one client's or entity's data is never commingled with another's, and the platform runs on SOC 2 Type II and ISO 27001-certified Google Cloud infrastructure with role-based access control over who can see what.

Yes — every paid plan includes a 14-day free trial with no credit card required, and there is also a free tier for evaluation and small workloads. You can test the full capacity of a tier against real data before committing.

Standard paid plans have no long-term lock-in. You can cancel before your next renewal and keep access until the end of the period you have paid for, with no penalty. You can still export your data after cancelling.

Each ledgered movement — an on-chain transfer, swap leg, fee, exchange trade or staking reward — counts as one transaction. Transfers between your own connected wallets are de-duplicated. If you approach a limit we notify you in-app and you can upgrade with prorated billing; data above a limit is still ingested and reconciled.

USD by default, with EUR, GBP and AED supported. The figure you see is the figure you are charged, with VAT or local tax added only where it genuinely applies based on your location.

Yes. B2B plans scale from solo practitioners to multi-entity firms, and regulated, enterprise or very high-volume needs are handled by a custom plan with bespoke limits, support and terms. See the pricing page for current figures.

Yes. You can move up or down a tier at any time and the change is prorated. Billing currency follows your location — USD by default, with EUR, GBP and AED supported — and the price you see is the price you pay, with VAT or local tax added only where it applies.

Connecting wallets and exchanges is quick — wallets as read-only public addresses, exchanges via read-only API keys. Most of the initial time is the platform ingesting, pricing, reconciling and classifying your history; once that completes, you have reconciled books to review rather than a blank ledger.

Connect your wallets and exchange accounts and CryptaCount pulls your history automatically across 90+ chains and major exchanges, enriching each transaction with historical fair-market pricing. Where needed, you can also import data files, so even older or unusual activity can be brought into the same reconciled record.

There is documentation and a help centre for self-service, and the team is available to walk through your specific setup — particularly useful for firms and funds standardising a close process across multiple entities or clients. You can book a demo to discuss your workflow directly.

Yes. Use the free tier to connect a wallet and see reconciled books at no cost, or start a 14-day trial on a paid plan to test full capacity. No credit card is required to begin.

No. Setup is connecting wallets as read-only public addresses and exchanges via read-only API keys, then letting the platform import, price and reconcile your history. It is designed for finance and accounting users, not developers, with documentation and support for anything unusual.

After the initial history is imported and reconciled, CryptaCount keeps pulling new activity from your connected wallets and exchanges, so your books stay current period to period rather than requiring a fresh manual import each time you close.