The basics of your crypto reporting
Setting your timezone and currency right is essential to being able to conduct the processes of reconciliation and financial reporting correctly.
During the registration process, you would have selected these options already. You can change the settings at any time, and may find you need to after asking yourself these essential questions:
- What currency do I report-in in my company's registered jurisdiction? What currency is my main ledger set to?
- What timezone best reflects my company's end-of-day? Is it the same as the registered jurisdiction, or is it UTC?
Things you should know:
- Users can now select a workspace timezone, which will be active in the whole product and in the reports.
- If your timezone is different from the one in your main ledger, the balances/market rates of assets recorded in the historical balance used for your EOM, EOQ or EOY reporting might be slightly off.
- You will have the USD rate alongside the chosen currency in all reports if your currency is not USD.
- If your currency is different from the currency in your main ledger, you will not be able to sync transactions.
Steps to change these settings:
- Open Cryptio and navigate to manage workspaces (shortcut).
- Click on your desired workspace.
- Search in the Currency or Timezone section.
- Choose your default currency/timezone. ‼️ Please note that if your workspace is locked, you won't be able to change currency. If you want to change the currency for the next period. Please read the data lock article and reach out to the support team to avoid any complications that might impact the prior period.
- Click Save.