Creating and Assigning Classifications

Step 1

Head to the Classifications tab.

Step 2

Click on the blue "New" button and you will see a menu of options for creating your new transaction classification.

Step 3

You will need to select an Account Type, Account Level, Account Name and Description. Then you will be able to classify it as Non-taxable or To ignore. 

Note that the Non-taxable square should only be checked by a qualified professional who is informed about which cryptocurrency transactions are taxable events in the underlying jurisdiction of operation. 

The "To Ignore" square will completely ignore transactions under the selected classification in the platform.

Step 4

Filled out your desired classification and select Add Account.

Your new classification will show up in the Chart of Accounts.

Step 5

Head back to the Transactions tab.

Step 6

To use the new classification, find the desired transactions in which you wish to classify and click on the unclassified tab and search for the classification to select. If you would like to bulk classify, follow the following steps. 

You have now classified a transaction.