Quote from: sgjenks01 on June 28, 2017, 06:53:22 PM

Quote from: allanster on June 28, 2017, 12:05:08 PM

@sgjenks01
I just bought my first purchase with crypto (Gunbot). How do you handle these transaction entries? Is it an "Out", should there be an "In", or is it a trade to FIAT
Allan

@Allanster
I'm assuming you bought Gunbot with fiat money. You start with an IN transaction to show you deposited cash somewhere (an Exchange like Bittrex). Then you sell the fiat and buy the Gunbot in a "Trade" type transaction. Also, if it's an exchange that has API trade report exports, you can set it up to do the imports automatically (daily). Any Sell (OUT) side entry should include the fee in the amount sold and you can report the fee in the Fees column if you want to track how much you are paying for the privilege. This would include commissions and miner transaction fees. I use the "Balance by Exchange" to be sure the balances by exchange by currency matches the amount the exchange/wallet has in it.

Steve

Steve,

I'm up to speed on the API and balances by exchange. I currently balance to zero by exchange. I haven't enabled API's until I see how UTC time get's handled in update.

As far as purchasing Gunbot, I wish I could've paid USD but I couldn't find a way to do so. I purchased on Bitify with BTC that I had mined in 2011. I already have entries for the mined coins.

I just am not sure how to properly do entry for "spent" coin on Gunbot. I'm assuming these day to day purchases should be entered here as well, according to Forbes article I posted earlier, even a coffee needs basis tracked.

So considering I already have all entries for mined coins and trades, how do you recommend the sole entry for the purchase of Gunbot?

Thanks!

Allan