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glynlewis
April 20, 2019
Question

How do I enter crypto trading data in quickbooks

  • April 20, 2019
  • 4 replies
  • 0 views

Has anyone managed to use Quick books to track and record CryptoCurrency Trading data, I have approx 20,000 trades in last financial year and cannot figure out how to track these purchases and sales of multiple (hundreds) of different coin pairs on at least 12 exchanges. any pointers gratefully accepted.

    4 replies

    J
    JamesDuanT
    April 20, 2019

    Cryptocurrency Community is growing fast and Bitcoins are already used for online trading or transactions now a days, Glyn.

     

    QuickBooks needs a third-party application to track and record your Cryptocurrency Tranding data. This application (for example, BitPay or Shopify) should be able to process Bitcoin payments and can integrate with our program.

     

    You can also browse these articles about Cryptocurrency and QuickBooks:

    If you need assistance of the integration process, I'd recommend contacting the third-party application's support. 

     

    Meanwhile, if you want to record your trading data manually, it'd be best to consult your accountant. They can give you different options that will suit your business setup.

     

    Other traders (that use QuickBooks to record their trading data) might be able to see this post and provide you additional pointers, too.

     

    Feel free to drop by again if you need anything else. Have a great day!

    G
    glynlewisAuthor
    April 20, 2019

    Hi James,

     

    many thanks for your reply but I do not want to accept BTC for sales. I am a DayTrader in Crypto and need a way to import 20,000 transactions.

     

    Glyn

    S
    ShiellaGraceA
    April 21, 2019

    Hi Glyn,

     

    We're unable to directly import Crypto transactions into QuickBooks. Though, you can use a third-party app to do it.

     

    Please visit our website to see our supported applications: https://apps.intuit.com/app/apps/home.

     

    In the meantime, you can refer to the articles provided by my colleague @James11_2 above for information.

     

    We're always here if you have further concerns. Thanks for posting!

    N
    NealRoche
    September 25, 2019

    There is a new Quickbooks online plug in called Gilded which can import 100's or 1000's of crypto transactions from wallets and exchanges and make the correct journal entries.   Gilded. finance is the web site

    G
    glynlewisAuthor
    November 11, 2019

    I checked them out and spoke to their support.. They are for Exchanges and large trading houses they do not deal with individual traders.

     

    Thank

    Glyn

      E
      epr7142
      January 11, 2021

      Hi Glyn,

      I know i'm really late to the ballgame here, but still wanted to post in case you haven't found a solution yet.


      Not sure if you are willing to pay the price, but I've had some incredible success using cryptotrader.tax in the past.

      Nowadays though, the only way I can realistically make it work is a custom accounting setup in using hledger. (Not for the faint of heart).

      C
      cryptovkng
      February 28, 2020

      Hi there :)

       

      I personally use Coinpanda (https://coinpanda.io) to calculate my crypto taxes. The software supports all popular exchanges and 6500+ cryptos. You can export your tax summary to any tax solution or accounting software you are using, including Quickbooks.

       

      Let me know if you find this useful.

        A
        Ash Nathan
        February 24, 2021

        https://cryptio.co/ - Used by Consensys, AAVE and other Leading Crypto Projects. Even the founders of the Bankless Nation so you're in good hands with them!

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