How To Ignore Spam Tokens And Other Transactions

Created by Richard Pasquin, Modified on Tue, 19 Dec, 2023 at 3:41 PM by William Kinash

In order to ignore spam tokens or other transactions, you will need to create an ignore classification. Once a transaction is classified as ignored, the transaction will be completely ignored from the cost basis calculation, the financial reports and disregarded from any sync to a main ledger or ERP.

Step 1

Start by clicking on the Classifications page.

Step 2

On the Classifications page, click on the "New" button to create a new classification. This is where you will create an ignore classification.

Step 3

Select the Account Type for the ignore classification.

Step 4

Select either the parent or child level option for the classification (select parent level if creating a new classification group).

Step 5

Create a name/title for the classification and a description.

Step 6

Make sure to click the "To Ignore" checkbox as this will indicate to the system to mark all transactions classified with this specific classification as ignored. Click the Add button after this step.

After saving the new classification by adding it in to your chart of accounts, you will now see it and it's ignore behavior showing on the Classifications page.

Step 7

Back to your Transactions page, locate the spam token transaction and click on the Classification cell.

Step 8

Search for or type in your newly created Ignore Spam Token (or any other name you used) classification to quickly find and select it.

The Behavior status now changed from Taxable to Ignored once you classified the spam token with your ignore classification.

If there are a significant amount of transactions you want to ignore, this article outlines how to bulk classify them.

Classify your spam tokens and any other undesired transactions this way. Keep in mind, they will still be visible on your Transactions tab, however they will not be factored into a new cost basis calculation and thus not affect the financial reporting. These ignored transactions will NOT sync to QuickBooks, Xero, NetSuite, nor any connected gateway connection.