The Reconciliation Tab is a powerful tool designed to enhance the accuracy and integrity of your financial data in Cryptoworth. It consists of five key components, each serving a specific role in the reconciliation process.
By utilizing all sections of the Reconciliation Tab, you ensure that your ledger remains accurate, transparent, and reliable, offering a complete reflection of your financial position.
Outlined below is a detailed description of each of the five functions:
1. Sanity Check
The Sanity Check option performs a balance assessment, comparing reported balances on-chain or via a third-party API connection with the ledger's computed balance. This verification boosts reporting confidence. Note that during staking, the computed balance might exhibit a shortfall due to inventory held in staking pools. To rectify this, ledger adjustments can include transactions countering deposits in DeFi pools. Remember, any ignored transactions won't influence the sanity check calculated balance.
2. Duplicates
The Duplicates tab detects and flags any duplicate transactions affecting your ledger. It's essential to understand that this feature exclusively identifies duplicates involving registered assets and operates within transaction filters. To identify duplicates across your entire portfolio, resetting transaction filters is necessary. Transactions involving unregistered assets are disregarded. Not all flagged transactions are duplicates, so careful review precedes selecting Clean Duplicates. Be aware that executed removal actions cannot be reversed.
3. Unregistered Transactions
Unregistered transactions involve unsupported asset types recently activated on the platform. The "Find Unregistered Transactions" button within the data ops menu automates locating these transactions for swift resolution. Upon reaching the Resolve Unregistered Assets page, if you're confident in the displayed assets' accuracy, clicking the Register All button resolves them efficiently. Alternatively, you can register each token individually. Please note, once a token is registered, it can't be unregistered.
4. Unregistered Assets
Lists tokens that are present in your ledger but lack proper registration or market data.
Often appear without token symbols or pricing.
You can export and submit these tokens to Cryptoworth Support for registration.
This ensures proper cost basis and reporting treatment for custom or niche assets.
5. Issues
Finally, the Issues section provides a centralized view of any other discrepancies, anomalies, or unresolved matters within your data. It serves as a catch-all for any potential issues that may require further investigation or resolution. More details can be found here.
The Issues section displays any other flagged anomalies or unresolved data issues.
Acts as a catch-all for transaction-related errors.
Centralizes all discrepancies that require user review or correction.