Cryptio is a data pipeline that funnels complex on-chain and exchange transactions to your main-ledger accounting software, making accounting for crypto easy.
Instead of pushing messy blockchain data, the software converts the blockchain data into standard accounting language (Gains/Losses, Cost Basis, Fiat Valuations).
At this point, you've imported, classified and mapped your transaction data via:
Step 1: Importing Transactions
Step 2: Classifying Transactions
Step 3: Mapping Accounts to Transactions
Therefore, you have now successfully automated the process of:
pushing data into your crypto sub-ledger
the identification of your contacts
the categorization/labelling of your transactions
the mapping of the destination of each debit/credit of every transaction
Congrats! you've saved nearly 4x the resources that would have been spent if this was done manually.
It's time to push data to your accounting software
There are 2 ways to do this:
1. On the transactions page, simply select the transaction(s) you want to sync and hit sync. This will automatically close the loop on everything you've set up within Cryptio and push the required data to the appropriate Chart of Accounts within the Accounting Software you've integrated with (Xero/QBO).
2. Export a Ledger Entries report from Cryptio and use this to push the data to your Chart of Accounts - only recommended if you're using our custom Accounting Integration rather than Xero/QBO.