Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
WickedPigeon
on 07/02/2018, 22:14:48 UTC
I'd pay top price for cointracking.info, IF I think it actually worked right.  Thing is it has ALL the balances correctly.  But it says I owe $115 in cap gains after daytrading for 2 days and only actually getting around $40.

Now they want money for me to try it out further because I am over 200 trades, and I am not about to spend a dime on something i am not convinced is working properly.  And they still hvaen't answered my support ticket about this.

I am going to have to manually calculate over 200 trades myself to and figure out how they figure I owe much more money than I got.

One suggestion:
Once you upload your trades, either by API or by CSV/Excel file, you need to reconcile your accounts. This can be tricky because you don't have a "bank like statement" to balance against. But you need to look at your balances and trades to make sure they are uploaded correctly and try to tie them out.

I upload my accounts, both with the API and manual CSV, and check them weekly to make sure the transactions are right and complete. (I'm an accounting manager - same thing my staff does with our company accounts too, although that's not with this software and not with cryto, just the same concept). Reconcile, Reconcile and Reconcile - then your reports work out perfectly. I have just over a 1,000 transactions in the last quarter, and an good amount of capital invested (at least for me >50, <100), 5 exchanges (Coinbase, Bitfinance, etc.), 10 wallets which don't have APIs, with a bunch of mining activity. Yes - I've put the hours in to balancing everything, and it took hours. So is this the greatest accounting software I've ever used, no. But it does a darn good job of tracking everything. Come tax time, everything was there.

Like most complex accounting activities - don't be too quick to blame the software. It works, if you check your work.
Good luck