Cryptio’s Needs Review module makes it easy to quickly see which transactions need your attention, and specifically why they have been flagged. Rather than scrolling through the pages of your transactions one by one, Cryptio will flag any issues or errors, collate them into the categories described below, and make it easy to fix them!

This not only helps to ensure the completeness and accuracy of your data but streamlines your month-end and internal processes, getting you audit-ready! Using this module will also make sure that your reports are as accurate and insightful as possible. Read this guide to learn more about the Needs review module, which will be instrumental in streamlining the review process and saving you time.

Watch this video to understand get a high-level sense how the Needs review module works.

Simple steps to data completeness:

• On your Transactions page, when you click Needs review you’ll find a list of all of your transactions that need to be double-checked before pushing journal entry to your accounting software.

• Under this, there are six sub-categories that the transactions could fall under:

Needs review modules:

1. Transactions without label

   💡 Labels are an essential part of classifying your business activity. With the correctly labeled transactions, you can set up business rules that will standardize your monthly processes, map Chart of Account based on label mapping, and help you generate customized reports that can be downloaded whenever you require!

   • This module identifies transactions that haven’t been labeled. You may wish to manually label these transactions, or create new label rules that capture these transactions. Read more here for help on labeling transactions.
   • This is an internal control that provides an additional layer of protection. If the algorithm has identified transactions as missing labels but you don’t need them to be labeled, you can click anywhere on the transaction row and select Hide transaction from "Missing label" review tab.

2. Missing prices

   💡 It’s important that all of your assets are priced correctly, to ensure that your tax documents are as accurate and auditable as possible! This module will help you quickly identify and work through any transactions with assets that aren’t currently priced.

   • These transactions don’t have a price associated with an asset. This typically happens with low market cap coins. Please see our article about missing prices here, with steps to start resolving this issue.

3. Missing volumes

   💡 To ensure your transaction data is as complete and accurate as possible, it’s important that you have complete transaction history, to account for the incoming and outgoing assets. This module helps you identify where we’re missing incoming transactions, further ensuring you are audit ready!

   • This cost basis error happens when the volume of an asset doesn’t match the transactions in your workspace, creating a “negative” amount. See more about this, and steps to take to resolve this issue, here.

4. Potential internal transfers

   💡 It’s important that Internal transfers are identified correctly so that you’re being taxed correctly, and so your reports are generated without errors. This module is an additional layer of protection to make sure none of your internal transfers are missed!

   • In this module, you can find the list of all your potential internal transfers. When you add an internal transfer label to a potential internal transfer, the most relevant counterparties are identified for you. You will then be asked to confirm the counterparties so that both sides of the internal transaction are labeled.
   • If the algorithm has incorrectly identified transactions as internal transfers, you can click anywhere on the transaction row and select Hide transaction from "Internal Transfer" review tab.

5. Incomplete COA

   💡 Chart of Accounts mapping makes sure that everything makes sense and appears in the correct place in your accounting software once synchronized. This module is an additional layer of protection to make sure all your transactions are mapped to the correct account.

   • This view allows you to quickly identify all transactions that don’t currently have any COA mappings applied to them. This streamlines your ability to quickly review your mappings, and manually apply them if needed.
   • To move the transactions from this view, users need to:
     • Revisit the CoA account page and make sure if the right COA mapping rule has been set up; 
     • The transaction is linked to the right label/wallet/exchange; or
     • Apply manual CoA mapping (for more detail check out the bottom of this article); 
     • If the algorithm has incorrectly identified transactions as internal transfers, you can click anywhere on the transaction row and select Hide transaction from "Incomplete COA" review tab.

6. Ready to be synced

   💡 Congratulations! These transactions are ready to be pushed to your Cryptio sub-ledger in your accounting software, and you’re one step closer to pushing your journal entry to your accounting software and closing your month-end process.

   • These are all of the transactions that are ready to be synced with your accounting software but haven’t yet been synced. This may be because you haven’t yet tried to sync them, or there was an error that prevented them from being synced.
   • If there’s a red error symbol at the end of the row, it means that there was an error that prevented it from being synced. If you click anywhere on the row of one of these transactions and scroll to the bottom of the drawer, there will be an error message that will tell you why.
     1. Refer to our Ledger entries report for the different types of messages and its resolution;
     2. For some of the errors, you can find resolution in our Troubleshooting article section; 
     3. If you are not able to resolve the issue, feel free to get in touch with support to resolve an error message.
   • Once the issues are resolved, you can either sync these transactions one by one or in bulk.

     • If you would like to go one-by-one, click on the transaction row, scroll to the bottom of the Transaction details drawer, and click Synchronize transaction.

       

     • You can also sync the transactions in bulk by selecting the rows you wish to sync, clicking Edit xxx selected rows, and selecting Synchronise transactions to [your accounting software, e.g. Xero]

       

   • If the algorithm has incorrectly identified transactions as internal transfers, you can click anywhere on the transaction row and select Hide transaction from "Ready to be synced" review tab.