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bitcoiner
November 23, 2021
Question

Need 8 decimal places for bitcoin expenses & revenue

  • November 23, 2021
  • 2 replies
  • 0 views

We're a bitcoin based p2p platform and point-of-sale handling bitcoin expenses and revenue (locally, and in El Salvador), and our accountant has the conversion at sale/payment time for CAD, but she's trying to enter them as a foreign exchange payment which only does two decimal places.

Because QuickBooks only does 2 decimals places instead of 8 for more detailed accuracy, she's been forced to use spreadsheets, and I'm afraid I'm going to be guillotined by my bookkeeper and accountant if we don't find a way to get them out of spreadsheets and back into quickbooks. 
Please offer an option for 8 decimal places and save a life :D

2 replies

T
Trish_T
November 25, 2021

Hi bitcoiner,

 

Welcome to Community!  I can understand how having the ability to edit the decimal places in order to handle your Bitcoin expenses and revenue would be a great feature, not only to minimize the the use of spreadsheets but also to keep you in good standing with your bookkeeper.  QuickBooks Online has many great features and does have the option to make changes to the number format within the company settings, but there's currently no way to edit the decimal placement for Bitcoin transactions.  I'd be glad to provide another option for you!

 

I suggest reviewing QuickBooks Apps that would process Bitcoin payments and integrate with QuickBooks Online.  In addition, you can reach out directly to our Development Team with a recommendation to have this available in future updates.  You can contact them right from your QuickBooks account by clicking on the Gear in the top right and select Feedback.

 

If you have any other questions. please feel free to reach back out.  We'd be happy to assist!

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