Note: Before setting up a classification rule to automatically track your NFT royalty income, make sure you’ve already created a classification for NFT Royalty Income in your Chart of Accounts. For detailed steps, see Creating and Assigning Classifications.
From the side panel, click on More Options, then select Automations.
Click on the + Classification Automation button.
Select Entity or Connection. If you are receiving NFT royalty income into a wallet, then select Connection.
Complete the following fields.
Automation Name: Enter a name for the automation.
Automation Description: Optionally, enter a description.
Wallets or Accounts: Select whether you receive NFT royalties to a wallet or an account.
Automation Sources: Click on Select, then select the wallets or accounts applicable and click Choose to confirm.
Click Next.
Criteria 1: set the conditions for automatically classifying NFT royalty income.
Add a condition based on Transaction Type.
For income, use the RECEIVE type: this captures all incoming royalty payments.
Add another condition using the Contract Address of the NFT collection.
This is the smart contract that issues your royalty payouts. Enter the contract address in the provided field.
Criteria 2: Configure the action that occurs when the trigger conditions are met.
Assign the classification rule to the appropriate classification: select the one created for NFT Royalty Income.
Click Next.
Review the trigger and the action and click Confirm to activate the classification rule. Your automation will be run when the conditions are met.
