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How To Automatically Classify Swaps

This article explains how to create and automatically categorize Swap transactions by tracking specific contract addresses.

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Written by Cryptoworth Support
Updated over a week ago

Creating a swap classification

Note: Before creating an automation flow to automatically classify swap transactions, a classification for swaps should exist in your Chart of Accounts (CoA).

  1. From the side panel, click on More Options, then select Chart of Accounts.
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  2. Click + New.
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  3. Enter the following details for your Swap classification.
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    1. Account Type: Classify Swaps as an "Other Asset" account since they involve exchanging one asset for another.

    2. Level: Parent Level: Create Swaps as a Parent Level account because you cannot nest it properly under another suitable account.

    3. Account Name: Enter a name like "Swaps" to clearly identify the nature of the transactions.

    4. Non-taxable: Leave unchecked as Swaps are taxable events in most tax jurisdictions; gains or losses need to be calculated.

    5. To Ignore: Leave unchecked Do not check "To Ignore" because you want swaps to be included in capital gain/loss calculations.
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  4. Click Add Account.

Creating an automation

  1. From the side panel, click on More Options, then select Automations.
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  2. Click on the + Classification Automation button.
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  3. Select Entity or Connection depending on which level you wish to apply this automation.
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  4. Click Next.


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  5. Complete the following fields.
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    1. Automation Name: Enter a name for the automation like "Swaps".

    2. Automation Description: Optionally, enter a description.

    3. Wallets or Accounts: Select whether the Swap automation will apply to a wallet or an account.

    4. Automation Sources: Click on Select, then select the wallets or accounts applicable and click Choose to confirm.
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  6. Click Next.
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  7. Criteria 1: set the conditions for automatically classifying the Swap transactions.
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    1. Add a condition based on Contract Address where the Swap transactions occur.
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  8. Criteria 2: Configure the action that occurs when the trigger conditions are met.

    1. Assign the classification rule to the appropriate classification: select the classification created for "Swaps".


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  9. Click Next.


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  10. Review the trigger and the action and click Confirm to activate the classification rule. Your automation will be run when the conditions are met.
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  11. Navigate to the Accounts page and click on Sync next to the relevant wallet to initiate a sync operation for the wallet you created the swap automation for (i.e., Contract Address).


    Once the wallet is synced, swap transactions will be automatically classified as "Swaps".

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